Operated on a decentralized platform, Ethereum runs smart contracts. These contracts are the applications which run on a set pattern according to their programming which do not have any possibility of restriction, break, any 3rd party intervention or any fraudulence. ETH, i.e. Ethereum was launched on June 30, 2015 and is gaining high popularity since then.
The project was started with a pre-sale of ether in the month of August in the year 2014 and was entertained by all the fans globally. A Swiss Nonprofit organization, Ethereum Foundation was behind this with several other great minds on the earth.
With involving a middle man or any third party risk taker, it is based on customized built blockchain, which allows the developers to generate markets, maintain records of assets and liabilities and even shift money as per the guidelines provided long back in the past.
By the year 2016 and reportedly in the month of March the total market cap of Ethereum was over $1B. This was a record breaking performance of any cryptocurrency with a year of its launch.
ETH has reached almost the top of the chart of cryptocurrency market cap and now stands of second position just after Bitcoin.