Ethereum vs. Blockchain - what's the difference? (in 60 seconds or less)

Ethereum continues to get more press in the mainstream media, but many people are trying to better understand how Ethereum differs from Bitcoin. The simplest way to think about it:

Bitcoin has proven blockchain (distributed ledger) technology for more than 9 years now. But the Bitcoin blockchain only keeps track of 3 pieces of data: 1) from 2) to 3) amount.

Ethereum is able to manage more data elements so can run Smart Contracts, such as: "if [event] happens then pay [person] [amount]." So Ethereum is more robust but considered less decentralized because the inventor of Ethereum, Vitalik Buterin is actively involved whereas the inventor of Bitcoin is unknown and has faded away.

The new paradigm many people have trouble understanding: There is no intermediary "Bitcoin company" to manage trust in transfers of value like the financial institutions we've always needed. Trust comes from the decentralized, transparent and immutable ledger, creating the ability to instantly transfer value to anyone, anywhere on the planet without an intermediary. But better yet: no person, organization or government can stop you from doing it.

That's transformative in the 5,000 year history of money. The genie is out of the bottle, and for those who've experienced it, there is no turning back.

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Ethereum vs. Blockchain - what's the difference? (in 60 seconds or less)steemCreated with Sketch.

Ethereum vs. Blockchain - what's the difference? (in 60 seconds or less)