The ethereum has been offered by Vitalik butler, a cryptographic researcher in 2013. The development phase was realized by online volume sales in 2014. Ethereum is an open source code platform with intelligent contract functionality. This platform is completely publicly available.
Smart contract allows you to define a computer code that makes it easy for value-added elements such as money, property, stock and content to be exchanged. Smart contract, which functions as a block of chain functionality, is like a computer program that automatically operates after its own conditions are met. These smart contracts operate in a block chain, preventing any disruption, censorship or fraud.
Ethereum serves as a decentralized platform that processes scripts using an international public node network. In addition, the ethereum also provides an encryption symbol used to compensate for participating nodes in deposit/withdrawal transactions between accounts. In 2016, the ethereum has become a two-block chain with the collapse of the DAO project.