Ethereum is a platform and a programming language that enables developers to build and deploy next-generation distributed applications. Ethereum can be used to program, distribute, secure and trade anything: voting, domain names, financial exchanges, crowdfunding, corporate governance, contracts and most agreements, intellectual property, and smart assets that benefit from hardware integration.
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Ethereum will use a hybrid security protocol that uses POW for the distribution of Ether and then switches to a Proof of Entitlement (POS). Since on-line, each year there will be 0.26x, that is, 60102216 * 0.26 = 15626576 Ether per year will be excavated by miners. Converted to POS, the annual output of the ether will be reduced