Ethereum works similarly to Bitcoin, but it also has its unique features and applications.
Like Bitcoin, Ethereum is a decentralised platform that runs on a blockchain. This blockchain is a shared public ledger that records all of the transactions taking place on the network.
All of these transactions are verified by nodes on the network, which are computers running the Ethereum software. These nodes work together to ensure that all of the transactions on the network are valid, and they are also responsible for ensuring that no individual can control the network.
The Ethereum blockchain is different from Bitcoin’s in that it can be used to run decentralised applications (dApps). No single entity controls these dApps; instead, they run on the Ethereum blockchain. This quality makes them more resistant to censorship and fraud, as there is no central point of failure.