Ethereum is currently the second most valuable digital currency after Bitcoin. The technology it uses was first written by the then 19-year-old Vitalik Buterin, the famous Bitcoin programmer, back in 2013. Buterin saw the project as an improved version of Bitcoin. It is a decentralised payment system, with its own cryptocurrency (ether), which allows anonymous payments via internal channels without the intervention of a bank or a third party. Transactions are stored in a decentralised ledger that can be viewed by anyone, thus using blockchain technology.
Ethereum is not just a strictly digital currency, it is much more than that. It acts as a platform on which smart currencies run. There are no transaction fees. This can be particularly useful for those who live in countries where the legal system is very corrupt or inefficient.
The following wallets currently support Ethereum:
- Geth: Client implementation in Go
- Jaxx: Web wallet
- KeepKey: Hardware wallet
- Ledger Nano S: Hardware wallet
- Crap: Desktop wallet
- Parity: Client implementation in Rust
Ethereum is also known for being like other cryptocurrencies: completely anonymous and secure, it is resistant to fraud and theft because transactions are recorded in a digital ledger. Users can move huge amounts of money without paying fees to intermediaries. It can be spent in a handful of online shops and with cryptocurrency debit cards (Mastercard, Visa), which easily convert cryptocurrency into cash.