What is Ethereum and how is it different from Bitcoin?

Ethereum is a decentralized blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps). Unlike Bitcoin, which primarily serves as a digital currency, Ethereum is designed to support a broader range of decentralized applications. The native cryptocurrency of Ethereum is called Ether (ETH), which is used to pay for transactions and computational services on the network. One of Ethereum’s key features is its ability to support smart contracts—self-executing contracts where the terms of the agreement are directly written into code. Ethereum’s blockchain is also more flexible than Bitcoin’s, allowing for innovations such as decentralized finance (DeFi) and non-fungible tokens (NFTs).