Ethereum is a public distributed computer and operating system with a smart contract (Scripting) function based on an open-source, public blockchain basis. Ethereum is one of the pioneers of distributed ledgers and blockchain technology, together with Bitcoin. Ether is a cryptocurrency whose Ethereum platform creates the blockchain. Ether can be transferred between accounts and used to make up for computations performed by participating mining nodes.
Eetereum offers an Ethereum Virtual Machine (EVM) that can run scripts on an international network of public nodes, a decentralized Turing virtual machine. “Gas,” a mechanism for pricing internal transactions, is used for mitigating spam and allocating network resources.
Vitalik Buterin, a programmer involved in Bitcoin Magazine, first described Ethereum in a white paper at the end of 2013 with the objective of creating decentralized applications. Buterin had argued that for application development, Bitcoin needed a scripting language. If no agreement was reached, he suggested developing a new platform with a more general scripting language. Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson were the core Ethereum teams during the public announcement in January 2014. Ethereum Switzerland GmbH started to formally develop its software project in early 2014. (EthSuisse).
The Ethereum Foundation (Stiftung Ethereum) was subsequently set up as a Swiss non-profit foundation.
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