Ethereum is another one of these cryptocurrencies like Litecoin or Bitcoin. But the unique thing about Ethereum is that it is a system of programmable currency where you can embed contracts into a transactions and write it directly into the code, for instance. The utitility, potential and versatility of this programmable money or smart currency is endless. The only remaining drawback is its complexity and speed. From what I’ve read it is a steep learning curve to write and understand Ether and some also say it will be awhile before it is up to speed. Numerous projects are already underway using Ethereum.