Post By Simon Montford on Sept 21, 2017
Post By Simon Montford on Sept 20, 2017
As mentioned in Part I of this series, unlike bitcoin, ether is more than just a store of value. It has been described as "crypto-law" and "programmable money" because when it is turned into gas it can be used to perform the following actions: Allocate resources, facilitate transactions between accounts using smart contracts, compensate participant nodes for computations performed on the network, and act as an internal transaction pricing mechanism. These powerful functionalities have made an entirely new kind of self-regulating governance possible in the form of distributed autonomous organisations (DAOs).
Post By Simon Montford on Sept 18, 2017
Once upon a time there was a substance called ether, also known as quintessence, that delighted and baffled medieval scientists for centuries. They postulated that it was a medium used by light to travel through the vacuum of space. It was also thought to be responsible for all kinds of other complex scientific phenomena. At the end of the 19th century, the scientific community collectively disavowed the notion, and concluded that it never existed. Ironic then that ether should, well, disappear into the ether.
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