Ethereum is a programmable and easy to use blockchain platform. It allows anybody to write their own smart contracts or issue tokens.
Similar to Bitcoin, Ethereum is decentralized.
Updating of the ledger is carried out by the entire network. The ledger is open, transparent and immutable.
The difference from Bitcoin is that Ethereum’s blockchain is codable. It provides a Turing-complete programming language, which means developers can use high level programming languages such as Python or C++, and it would be compatible, greatly reducing the developmental difficulty of blockchain applications.
Similar to Android operating system, it provides a diverse range of API and interface, allowing user to develop a wide range of applications.
Since its creation till now, there have been over 200 different Ethereum-based applications created.
The Bank of Russia also established a partnership with the Ethereum Foundation. As of March 2018, Ethereum’s market capitalization is only second to Bitcoin.