Ethereum is an open-source, blockchain system which is distributed among the thousands of computers around the globe. It runs on an OS called the EVM (Ethereum-virtual-machine). The EVM knows and executes the programming languages such as solidity. The platform which Ethereum uses is known as smart contracts. Besides, a smart contract is an application program that regulates the transfer of ETH among accounts if specific requirements are met.
Thus, there is no possibility of censorship, downtime, third-party interference, or fraud. It holds a revised version of Satoshi Nakamoto consensus through state-based transitions. Ethereum was introduced approximately in the year 2013 by Vitalik Buterin, who is a cryptocurrency programmer and researcher.