Buying Ethereum (Ether or ETH) is as simple as checking-out a product from your favourite online store; enter the amount of Ethereum you would like to receive, or click on the present CAD value amounts (i.e. $50, $75, $100, etc. buttons). The amount that you are purchasing is the exact amount that you will receive in Ether, after completing your payment.
What is Ethereum?
It is described as a decentralized computing platform called the EVM (Ethereum Virtual Machine). Using this Turing-complete virtual machine, the EVM can execute scripts using an interlinked network of computer workstations.
Ether is the token that is used like a cryptocurrency, much like Bitcoin, within the Ethereum system.
Vitalik Buterin first described Ethereum in a white paper in 2013. He was a programmer involved with Bitcoin and had proposed developing a new platform with a more general scripting language. In 2014, the company Ethereum Switzerland GmbH began formal development. The development was funded with the help of an online public crowdsale from July-August 2014.
How does Ether work?
Ethereum uses smart contracts (basically code) that can accept transaction requests between one person to another person (i.e. Person A to Person B). These smart contracts also verify the exchange, enforce the negotiation of the procedural instructions of the transaction, and also verifies that there is no malicious activity within the blockchain.
Smart contracts are a set of instructions that can be coded into an Ethereum transaction, which also becomes part of the blockchain in general. This executable code tells the people running the blockchain what they should do for this transaction request.