Thermal cracking is when you apply heat and pressure to an alkane to produce smaller molecules, usually a smaller alkane and an alkene. This is useful because alkenes are more reactive, and are hence more productive for us in the industrial process. For example, propane can be cracked to give ethene and methane. There is also catalytic cracking, but you don't need to know about that.
The two types of reactions which involve ethene (or alkenes in general) are addition reactions and polymerisation. In addition reactions we pass a chemical across the ethene molecule to break the double bond and saturate the molecule, that is give it the maximum number of substituents. Examples include hydrogenation (adding hydrogen), hydration (adding water) and halogenation (adding a halogen). Addition polymerisation is when we take an unsaturated molecule and amplify it to get a chain of the molecule with repeating patterns.