December 2018
Intermediate to advanced
222 pages
6h 6m
English
Content preview from Blockchain Quick Start Guide
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Account
In Chapter 1, Introduction to Blockchain Technology, we discussed addresses, an account-like concept, which is used to host balances of BTC. Bitcoin uses the UTOX model to manage the transfer of BTCs between addresses. However, one has to retrieve the entire ledger to find the balance of an address, which is very inconvenient. This inconvenience is due to the fact that Bitcoin does not support an on-chain Turing-complete programming language and it does not have the concept of states. On the other hand, Ethereum blockchain supports scripting languages and smart contracts; it can maintain state. Ethereum transactions manage state transitions by calling smart contract methods. Ethereum no longer needs to rely on UTOX to manage payments. ...
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