What is ETH
Ethereum is an open-source, public, blockchain-based distributed computing platform, and operating system featuring smart contract functionality. Ethereum provides a decentralized Turing-complete virtual machine, called the Ethereum Virtual Machine (EVM), that can execute scripts on the network using the network of public nodes. In order to reduce spam, and allocate network resources correctly, Ethereum contains an internal pricing mechanic, called gas which regulates the price of transactions. Ethereum can then be transferred between accounts and used to compensate mining nodes for computations performed. In late 2013 Ethereum was first proposed by Vitalik Buterin, a cryptocurrency researcher, and developer. Development was funded through an online crowdsale that existed between July and August of 2014. The system we know today went live on 30 July 2015, with 11.9 million coins for the crowdsale. This accounts for roughly 13 percent of the circulating supply. In 2016, resulting from the collapse of the DAO project, Ethereum was forked into two individual blockchains – the new separate version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). Ethereum is the more widely used of the two and the value of Ethereum grew over 13,000 percent in 2017.