Suppose that Alice wants to store a large amount of money, but does not want to risk losing everything if her private key is lost or stolen. She makes a contract with Bob, a semi-trustworthy bank, with the following rules: Alice is allowed to withdraw up to I per day, Alice with Bob's approval can withdraw any amount, and Bob alone can withdraw up to 0.05 per day. Normally, Alice will only need small amounts at a time, and if Alice wants more she can prove her identity to Bob and make the withdrawal. If Alice's pri- vate key gets stolen, she can run to Bob and move the funds into another contract before the thief gets away with more than 1 of the funds. If Alice loses her private key, Bob will eventually be able to recover her funds. And if Bob turns out to be evil, Alice can withdraw her own funds twenty times faster than he can. In short, all ofthe security of traditional banking, but with almost none of the trust. ----proof of stake(Vitalik Buterin).
Clone this repo
Install dependices
npm iNow play with it!!