Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.
Ethereum is Accepted in Following Places:
1. Decentralized Applications: There are many decentralized applications being built on Ethereum. These are open source projects that use the Ethereum blockchain to run their code. The most popular decentralized application at the moment is CryptoKitties, which allows people to breed and trade digital cats.
2. Online Casinos: Online casinos are starting to accept Ethereum as a payment method. This is because Ethereum offers fast and cheap transactions. In addition, online casinos can offer games that are provably fair using Ethereum smart contracts.
Online Stores: There are a number of online stores that accept Ethereum as a payment method. These include Overstock, Newegg, and Namecheap.
4. Physical Stores: A number of physical stores are starting to accept Ethereum as a payment method. These include Reeds Jewelers and Bitcoin Superstore.
5. Charities: A number of charities are beginning to accept donations in Ethereum. These include Save the Children and The Water Project. .
Overall, there are many places that accept Ethereum as a form of payment. This is because Ethereum offers fast and cheap transactions which make it ideal for payments.