Ethereum is public, blockchain-based, open-sourced, distributed operating system and computing platform, featuring smart contract (scripting) functionality. It supports a modified version of the original Bitcoin consensus, created by Satoshi Nakamoto, via transaction-based state transitions.
The Ethereum platform and blockchain generates the Ether token. Ether can be transferred between individuals via their Ether wallets and is used to compensate participant mining nodes for computations performed.
The decentralized virtual machine (Ethereum Virtual Machine – EVM), can execute scripts using an international network of public nodes. The virtual machine’s instruction set, in contrast to others like Bitcoin Script, is thought to be Turing-complete. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
In late 2013, Ethereum was released by a cryptocurrency researcher and programmer named Vitalik Buterin. Development was funded by an online crowdsale that took place between July and August 2014.
You can use the Ethereum Mining Calculator below to find out how much you can possibly earn based on Hashing Power, Difficulty and other variables.