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5 things you should know about the blockchain

Peter Sayer | April 12, 2016
It's not (just) for buying black market goods and services.

5. Programmable money

One of the more interesting uses for blockchains is for storing a record not of what happened in the past, but of what should happen in the future. Organizations including the Ethereum Foundation are using blockchain technology to store and process "smart contracts," executed by the network of computers participating in the blockchain on a pay-as-you-go basis. They can respond to transactions by gathering, storing or transmitting information or transferring whatever digital currency the blockchain deals in. The immutability of the contracts is guaranteed by the blockchain in which they are stored.

 

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