From the Blog
The ethereum blockchain has a powerful ability to programmatically transfer assets
using smart contracts. In this post we will take a look at creating our own escrow
contract and running it to transfer funds between accounts via a third party.
To develop a smart contract on the ethereum blockchain we need a local environment to work in.
Obviously we don't want to test on the main network where we take on actual financial costs and
risks so instead we need to setup a test network. We could use one of the public test networks but
this takes a lot of time and memory to sync with. Instead it will often be sufficient to create a
personal, private test network with multiple accounts to interact with. This post shows how such a
network can be created locally using