Second generation blockchains are advancements in technology over the original Bitcoin blockchain. These newer blockchains aim to improve upon the limitations of the first generation, such as scalability, speed, and energy efficiency. One key feature of second generation blockchains is the introduction of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller directly written into lines of code.
These blockchains also enable the creation of decentralized applications (dApps) that run on a peer-to-peer network of computers rather than a single server. This allows for greater security and censorship resistance. Additionally, second generation blockchains often use a different consensus mechanism, such as proof of stake, to validate transactions more efficiently.
Overall, second generation blockchains offer more advanced features and capabilities compared to their predecessors, making them more suitable for a wider range of use cases beyond simple transactions.
