We have sat here for the last 3 years seeing only infrastructure apps like wallets and exchanges emerge on top of Bitcoin. Why is that?
My theory has been that the scripting language in Bitcoin — the piece of every Bitcoin transaction that lets you run a little software program along with it — is too restrictive.
Enter Ethereum. Ethereum has taken what was a four function calculator of a programming language in Bitcoin and turned it into a full fledged computer. We now stand only 9 months out from the beginning of the Ethereum network and the level of app development is already faster than Bitcoin’s. We are finally getting rapid iteration at the app layer. In one early example, people have designed a decentralized organization (The DAO) — a company whose heart is code and peripheral operations are run by humans, rather than the other way around — that has raised $150m so far in the largest crowdfunding ever.Read Complete Article