What is Ethereum
Ethereum is an open-source decentralized platform for creating smart-contract based decentralized apps. The platform has a decentralized Turing-complete virtual machine called the Ethereum Virtual Machine (EVM). The EVM acts as the runtime environment for Ethereum smart contracts. Smart contract is a computer program, that controls the execution of a deal between parties under certain programmed conditions. Ethereum is the most popular platform for launching ICOs. Ether (ETH) is a decentralized digital currency, a native cryptocurrency of the platform. It utilizes the Ethash algorithm for proof-of-work. In comparison with Bitcoin, Ether has 40 times lower block time and lower transaction fees.