ETHEREUM
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.
Ethereum provides a cryptocurrency token called "ether", which acts as a vehicle for moving around on the Ethereum platform.
Ether is the value token of the Ethereum blockchain, though Ethereum's network supports other digital currencies.
The majority of ICO tokens issued on Ethereum are ERC 20 tokens that have built-in compliance with the set standard. Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. The development was funded by an online crowd sale during July–August 2014.
The system went live in 2015, with 72 million coins "premined" for the crowd sale.
This accounts for about 68 percent of the total circulating supply in 2018. Ethereum is currently the second-largest blockchain after Bitcoin by market cap, with a value nearing $14 billion as of May 2018.
The rapid growth of Ethereum has brought about an explosion in ICOs, which have been crowdfunding millions in capital for new projects on smart contract creation platform ethereum.
Its key feature is that it allows smart contracts - any digital agreements that are self-executing for either party involved in an agreement. Because it's an open-source platform, anyone can create their own cryptocurrency that runs on the ethereum network - but they are independent of the ethereum team.
Ether is the currency that fuels transactions on ethereum, which means you need to buy Ether if you want to run dapps or make smart contracts. Ether has been referred to as fuel for the ethereum ecosystem.
In the future, that could very well change as Ether is not just a currency but also acts as a commodity as it will have to be consumed to access specific dapps on the network
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