Ethereum (Ethereum from the English ether [ˈiːθə] — "ether") is a cryptocurrency and a platform for creating decentralized online services based on blockchain (decentralized applications) running on the basis of smart contracts. Implemented as a single decentralized virtual machine. The concept was proposed by Vitalik Butorin at the end of 2013, the network was launched on July 30, 2015.