In November, 2013, computer programmer Vitalik Buterin proposed creating a blockchain program, a kind of digital ledger, similar to Bitcoin. The program would allow users to create applications, called smart contracts, that could perform various tasks, such as transferring digital currency without human intervention. Buterin used the name Ethereum for the program and ether for the cryptocurrency, drawing on associations a a substance once believed to permeate all space.

In November, 2013, computer programmer Vitalik Buterin proposed creating a blockchain program, a kind of digital ledger, similar to Bitcoin. The program would allow users to create applications, called smart contracts, that could perform various tasks, such as transferring digital currency without human intervention. Buterin used the name Ethereum for the program and ether for the cryptocurrency, drawing on associations a a substance once believed to permeate all space.