Ethereum is actually very similar to Bitcoin. Ethereum is a public peer-to-peer network or blockchain with its own digital currency called Ether. Ethereum was created by Vitalik Buterin in 2014 and Ethereum's goal is to become a platform where smart contracts can be created and executed.
Simply put, the goal of Ethereum is to become a world computer.
Bitcoin is intended to keep a list of balances and transactions on the blockchain, while the Ethereum blockchain is designed to store various types of data. This data can be accessed and used by computer programs running on the Ethereum blockchain. These programs are called decentralized applications, or dapps.
Developers around the world can build and run decentralized applications on the Ethereum blockchain. The aim is to improve the financial industry, store personal information, governance with various other uses by using the transparent nature of blockchain.