An open distributed blockchain application platform, which provides a decentrized virtual machine through its exclusive cryptocurrency, Ether, in utensils, to process point-to-point contracts. Anyone is allowed to establish and use decentrized applications run through blockchain technology without any fraud, censorship or third-party supervision. For the first time in 2013-2014, the concept of a Taifung was inspired by Bitcoin by Vitalik Buterin and aimed at building a more global, freer and reliable Internet.