Ethereum is the second-largest cryptocurrency platform by market capitalization, behind Bitcoin. It is a decentralized open-source blockchain featuring smart contract functionality. Ether is the cryptocurrency generated by Ethereum miners as a reward for computations performed to secure the blockchain.
Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. The virtual machine's instruction set, in contrast to others like Bitcoin Script, is Turing-complete. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014.[6] The system then went live on 30 July 2015, with 72 million coins minted. This accounts for about 65 percent of the total circulating supply in April 2020.[non-primary source needed]
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