Ethereum is an innovation network providing its own blockchain with its cryptocurrency (Ether or ETH). This blockchain hosts decentralized applications (DApps) that were first introduced by Ethereum. Another innovation of this platform is the implementation of smart contracts which has changed the perception of the possible use of the blockchain, revealing the potential of the technology to its fullest. Besides, Ethereum can be used as a virtual computing machine. Ethereum was created in late 2014 by a programmer and Bitcoin researcher Vitalik Buterin. Ether is the second-largest cryptocurrency by market cap. Like Bitcoin, the network is guarded by Proof-of-Work protocol although it was announced that Ethereum is going to switch to Proof-of-Stake in the future. The hugest known flaw of Etehreum is the network's low scalability.
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