Bitcoin may be the best known and oldest blockchain, but it has only one purpose: to send digital currency back and forth. Ethereum on the other hand, was meant to be built differently from the start and be able to respond to new technologies and current trends. From the beginning, it was clear that Ethereum should be an open and public project that serves the good of humanity and should be able to do much more than the Bitcoin Blockchain.

The fact that Ethereum is managed by a foundation and thus provides a basic platform that is used by other organizations and companies is comparable to the Wikipedia model. However, Ethereum also faces criticism: the blockchain’s transaction fees are very high. It also consumes a lot of energy, as the blockchain takes up the computing capacity of countless computers worldwide. However, Ethereum wants to solve the latter by switching the platform to “Proof of Stake” – a more resource-efficient way to verify blockchain transactions.