Published on July 27th, 2015 | by bitcoin0
Bitcoin’s Ethereum Is First and Only Choice For Banks
Ethereum comprises a platform on which developers can build out blockchain applications, plus a token of value – ether – to incentivise a peer-to-peer computation network, like bitcoin does.
Ethereum’s blockchain protocol has the flexibility to facilitate smart contracts – something the bitcoin network does, but only in a limited way to honour bitcoin transactions.
Ethereum did not reveal which banks and financials are currently looking at its technology.
Smart Contracts Smart contracts refer to defined services which are enacted by code on a censorship-proof ledger system.
Kappler said there was no way to turn the bitcoin blockchain in to the type of platform needed to facilitate smart contracts.