Ethereum Cryptocurrency has been around since 2013 when it went live with 72 million pre-mined coins. Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system (OS) with smart scripting functionality. It is also decentralised (not controlled by any single governing entity).
The system is totally separate to the better known Bitcoin, and it has a complete network with its own web browser, payment system and coding language.
Ethereum Cryptocurrency is a multi-purpose platform of which Ether, its digital currency, is just one part. It serves as a decentralised internet and app store, so it needs its own currency – the Ether token. Ethereum generates the blockchain for this.
Ether can be transferred from one account to another and can compensate participant mining nodes for computations completed.
The platform is immune to any third-party interventions and is based around a principle of consensus which eliminates the potential for corruption or fraud and makes the network watertight.