Ethereum Definition and Statistics

Ethereum is a distributed open source system that allows users to create, manage, and execute decentralized programs or contracts (smart contracts) on their own blockchain. As a result, it is a viable alternative to the traditional client-server design.

Ethereum accepts payments in the form of the internal cryptocurrency Ether (abbreviated as ETH) for transaction processing by participating machines.

Ether is the cryptocurrency with the second greatest market capitalisation behind Bitcoin as of December 2021.