With the explosion of interest in cryptocurrencies following Bitcoin’s massive boom, many investors have turned their attention to upcoming cryptocurrencies in search of the next big thing. Ethereum, valued at over $1,000 USD per Ether at the time of writing, currently sits at the second spot in terms of cryptocurrency value. As a result, many are wondering if an early investment in Ethereum could leverage the same fortunes that Bitcoin brought in not so long ago.

But as anyone who has been following the market for a while can attest, there are no promises when it comes to the cryptocurrency market. While it is more mature than it was a few years ago, it remains as turbulent as the worst rapids: exciting, dangerous and (potentially) rewarding.

Here are all the essential things you need to know about Ethereum.

Before we proceed, it is important to clarify the distinction between Ethereum and the cryptocurrency based on the Ethereum Blockchain, better known as Ether. The latter is a cryptocurrency similar to Bitcoin that incentivizes the contribution of computing power needed by the Ethereum network. Like Bitcoin, they are mined, and those who contribute their computing power to the decentralized network and help with the proof-of-work process needed to add to the Blockchain are rewarded with Ether and another currency, Gas.