Ethereum is an open-source, blockchain-based platform that was created to enable the development of decentralized applications (DApps) and smart contracts. It was proposed by Vitalik Buterin in late 2013 and development began in early 2014, with the network going live on July 30, 2015. Ethereum is designed to provide a more flexible and programmable environment for blockchain applications compared to Bitcoin, which primarily serves as a digital currency.