Everyone is talking about blockchain. But do you know the difference between the technology running bitcoin and ethereum?
ConsenSys Chief Strategy Officer Sam Cassatt breaks it down for us.
This is a transcript of his remarks:
The technologies behind bitcoin and ethereum are quite different. Bitcoin was designed for a single purpose, to store and transfer value. And it does that very well, it does that rather slowly.
The designers of bitcoin are some of the people working on the bitcoin protocol, felt that building an application that enjoyed the same decentralized properties as the bitcoin money transfer system was something that they wanted to create. So they created ethereum, designed from the ground up to be an application platform. Some people say this is like programmable money, some people would say it's like a global computer that can execute any software you want that has to do with money and logic.
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