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).
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