When Bitcoin was introduced in 2009, it piqued many people’s interest. One of them was Vitalik Buterin, a programmer who went on to co-found Ethereum in 2014 through crowdfunding.

Ethereum is a blockchain-based computing platform that gives programmers the ability to create and deploy decentralized apps, which are those that are not controlled by a single entity.

Central to Ethereum is its blockchain network, where transactions are made using cryptography to keep the network secure and verify transactions.

The cryptocurrency used by Ethereum is called ETH. It serves as the network’s fuel, and is used to cover the transaction fees and computational costs associated with every transaction carried out on the Ethereum network.

Ether is a peer-to-peer currency, similar to Bitcoins. Ether can be used to purchase gas, which is required to process every transaction completed on the Ethereum network, in addition to paying for transactions.

A user needs an Ethereum wallet in order to store Ether. The majority of these wallets are electronic and accessible through a laptop or smartphone. The private key (secret keys with which the user can access the Ether) is kept in the Ethereum wallet.

Ether can be bought through online exchange platforms, where users can buy and sell the cryptocurrency for a fee. They can also be obtained through trading platforms and peer-to-peer transactions.