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Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Unlike Bitcoin, the Ethereum blockchain focuses on running the programming code of any decentralized application anywhere on the planet.
Ethereum was created in late 2013 by Vitalik Buterin, a russian cryptocurrency researcher and programmer. Ethereum development was funded by an online startup that took place between July and August 2014. The system went live on July 30th, 2015, with 11.9 million coins “premined” for the original crowdsale.
Bitcoin allows you take part in a global financial network, using Ethereum you can participate in a global computational network. What’s the difference? This is done by means of smart contracts, which are scripts of code that can be deployed in the Ethereum blockchain. Although smart contracts are still a very new technology, they have a wide range of potential applications in many different areas.
The Ethereum network operates in a similar way to the Bitcoin one, allows users any transaction, like send and receive crypto money, that represent value over an open network. However, the primary goal of Ethereum is not to act as a form of money, but to operate smart contracts around the world.