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Ethereum is an open-source blockchain-based platform that is used by developers to build their own decentralized applications. Utilising smart contracts these decentralised applications run independently of any third party, making them reliable, predictable and uncensorable. Smart contracts promise to usher in Internet 3.0 and remove the current reliance on centralised infrastructure.
Ethereum was conceived by Vitalik Buterin in 2013 and released in 2015 after a highly publicised Initial Coin Offering (ICO) in which anyone could commit bitcoin in return for the newly minted Ether currency. Ethereum subsequently went on to act as a platform for thousands of other ICO’s over the following years. Many of the largest cryptocurrencies around today either run on the Ethereum blockchain or began on the Ethereum blockchain before moving to their own chain.