Ethereum is a decentralized, open-source blockchain featuring smart contract functionality. Ether (ETH) 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. Ethereum was proposed in 2013 by programmer Vitalik Buterin. Development was crowdfunded in 2014, and the network went live on 30 July 2015, with 72 million coins premined. The Ethereum Virtual Machine (EVM) can execute scripts and run decentralized applications. Ethereum is used for decentralized finance, and has been utilized for many initial coin offerings.