What is the difference between Bitcoin and Ethereum?

Ethereum, like Bitcoin, is an open source project that is not owned or operated by a single individual.

Anyone with an internet connection can run an Ethereum node or interact with the network.

However, Ethereum differs from Bitcoin in its ability to build and execute smart contracts.

Smart contracts enable a vast ecosystem of applications on Ethereum, such as stablecoins (which are pegged to the dollar by smart contract), decentralized finance apps (collectively known as DeFi), and other decentralized apps (or dapps).

Like Bitcoin, Ethereum is secured by a global network of computers called “miners'' that process and verify transactions.

However unlike Bitcoin, Ethereum plans to phase out mining altogether, eventually shifting to a mechanism called “proof of stake.”