O'Reilly logo

Blockchain: A Practical Guide to Developing Business, Law, and Technology Solutions by Michael Wuehler, Solomon Lederer, Rene Madsen, Kedar Iyer, Paul R. Allen, Joseph J. Bambara

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

5   Technology on Ethereum

The simplest way to describe Bitcoin is to say that it is cryptocurrency or digital money. Bitcoin was released in January 2009, so for approximately nine years it has been used to transfer money in a peer-to-peer blockchain network. There is no central or world bank entity that controls the flow or functionality of Bitcoin; it is a decentralized digital currency. When compared to Bitcoin, Ethereum differs mainly in that it adds the functionality of the smart contract to its base cryptocurrency, known as ether. What does smart contract mean? Well, think of it as digital money that has logic associated with it. A smart contract can be set up to transfer value from one entity or account to another, and to do this if—and ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required