Ethereum
Ethereum is the largest blockchain for programs (smart contracts); its currency unit is called Ether (ETH).
Explained simply
Bitcoin is built to transfer money. Ethereum, launched in 2015, is built to run programs. Developers can build applications on it that run without a central operator.
Ether is the network's "fuel": anyone using an application or sending a transaction pays a fee in ETH. At the same time ETH is traded as an asset, like Bitcoin.
A large share of tokenisation and DeFi projects worldwide runs on Ethereum or on networks built on top of it.
From the familiar world
Bitcoin is like a pocket calculator: it does one thing very reliably. Ethereum is like a smartphone: it provides the platform on which others install their apps.
An example
Large asset managers have launched tokenised funds on Ethereum. The units exist as tokens on this blockchain, and settlement runs through smart contracts.
Why it matters
Anyone talking about tokenisation, digital securities or DeFi is almost always also talking about Ethereum or its offshoots. It is the infrastructure layer institutional players use most often.
To pass on
„Bitcoin is digital gold, Ethereum is the computer the new financial apps run on.“
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