Ethereum (ETH), launched in July 2015 after a successful fund-raising period, is an open-source, decentralised cryptocurrency platform with "smart contracts", a set of scripts which run on top of Ethereum's blockchain and which automatically enforce contracts and agreements. It is also a development platform that makes it easy to build decentralised applications using Ethereum's own scripting language. The currency behind the Ethereum network is called "Ether". While the developers intended Ether to be just a token (rather than currency) to pay for computation and network maintenance, Ether (often referred to as "Ethereum") is actively traded on many digital currency exchanges. Original announcement.