What is Ethereum?


Ether is a currently the second most valuable cryptocurrency in the crypto industry. It is run on a technology which is called Ethereum. Ethereum is a decentralized platform that runs smart contracts which are applications that runs exactly as programmed free from the possibilities of downtime, censorship, fraudulent activities or any third-party interferences. Ether is used for operating the smart contracts on the Ethereum Network. Ethereum technology is an open network which is of the people, for the people and by the people and is not controlled by any bank or the Ethereum developers. During the month of August 2014 via an Ether was bootstrapped using the process named Initial Coin Offerings (ICO). It was developed by a Swiss nonprofit named Ethereum Foundation. 

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