Ledger start: 30 July 2015
Founders: Vitalik Buterin, Gavin Wood
Symbols: ETH, Ξ
Ether (ETH) is the cryptocurrency generated by the Ethereum protocol as a reward to miners in a proof-of-work system for adding blocks to the blockchain. It is the only currency accepted in the payment of transaction fees, which also go to miners. The block reward together with the transaction fees provide the incentive to miners to keep the blockchain growing (ie. to keep processing new transactions). Therefore, ETH is fundamental to the operation of the network. The smallest subunit of ETH is known as a Wei and is equal to 10-18 ETH. There is currently no implemented hard cap on the total supply of Ether.
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. It is the second-largest cryptocurrency by market capitalization, after Bitcoin. Ethereum is the most actively used blockchain.