The algorithm is completely analogous to Diffie-Hellman key exchange in that you efficiently raise a number to a power times and send the result over while keeping as private key.
The only difference is that a different group is used: instead of using the cyclic group, we use the elliptic curve group of an elliptic curve over a finite field.
Video 1. Source. youtu.be/NF1pwjL9-DE?t=143 shows the continuous group well, but then fails to explain the discrete part.
ECDH has smaller keys. youtu.be/gAtBM06xwaw?t=634 mentions some interesting downsides:

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