Evolved from Bitcoin’s first-generation blockchain (launched in 2009) focused on recording monetary transactions
Second-generation blockchains, like Ethereum, manage the transfer of a wide range of assets (monetary, financial instruments, birth/dead/marriage records, medical data, etc.)
Bitcoin only records transfer of ownership of Bitcoins
Another key aspect of second generation Blockchains is they are able to take computing action on the transactions.
Smart Contracts
Rules can be written to take action on the Blockchain transactions
These rules are nothing more than computer programs called Smart Contracts
Smart contracts are computer programs, not legal documents, that execute tasks or enforce rules when specific conditions are met
They run immutably on the blockchain and are triggered by events or transactions.
Development Tools for Smart Contracts
Ethereum provides tools for creating smart contracts, such as the Remix IDE
