from https://medium.com/@angelomilan/ethereum-explained-to-my-mom-infographic-673e32054c1c#.16kl33mhl

 

Ethereum is a virtual machine running atop a decentralized blockchain mining so called Ethers, allowing a wide range of smart contracts. The Ethereum Project, based in Switzerland, raised millions in seed money by pre-mining and selling ethers to supporters & investors. As opposed to bitcoin, its scripting language is Turing-complete and full-featured, expanding the kinds of smart contracts that it can support. The Ethereum project wants to “decentralize the web” by introducing four components as part of its roadmap: static content publication, dynamic messages, trustless transactions and an integrated user-interface.

Source: Medium.com

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