What is the difference between Bitcoin and Ethereum?

Bitcoin is a digital asset and a decentralized payment system, while Ethereum is a blockchain-based platform used to develop contracts and decentralized applications. Bitcoin is primarily a means of payment, while Ethereum is used for a wide range of applications, including decentralized finance (DeFi), gaming, and even creating digital collectables. Additionally, Bitcoin’s core technology is the blockchain, while Ethereum’s underlying technology is a more advanced blockchain protocol called ‘Ethereum Virtual Machine’. Finally, Bitcoin relies on Proof-of-Work consensus for its transactions, while Ethereum adopted the more efficient Proof-of-Stake consensus.