Ethereum is basically an open software platform based on the blockchain technology which allows developers to building several decentralized applications called DAPPS. Ethereum is also called as a distributed public blockchain network that focuses on running the programming code of any application.

Ethereum was first created in 2013 by founder Vitalik Buterin and Ether is the cryptocurrency that is generated on the Ethereum platform. The Ether tokens can be used to make payments by transferring them between accounts as well as to compensate the mining nodes for the computations performed on the Ethereum blockchain.

The Ethereum platform has been designed in a way to allow developers for the creation of smart contracts. The smart contract is basically a computer code or script which can automatically execute tasks when certain conditions are met. This tasks can include anything like an exchange of content, money, property, or anything of value.

‘Gas’ is an internal pricing for running a contract or a transaction on Ethereum network. The value of one Gas is one-millionth of an Ether.

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