Too Long; Didn't Read
The Second Bitcoin Whitepaper, written by J.R. Willett, was made public in January 2012. It laid out the basic concept behind Mastercoin: that the existing Bitcoin network could be used as a layer for higher-level protocols, paving the way for new rules for contracts. The new digital currencies have evolved into Contracts For Difference, or CFDs. Contracts for Difference are “an arrangement made in financial derivatives trading’s where differences in the settlement between the open and closing trade prices are cash-settled”