Ethereum: A Review

  • Bhanu Sharma et. al


Ethereum is an open source platform. It gives anyone to make and use decentralized application which are runs on block chain technology. These applications run exactly as these are programmed by its developers. As they are programmed there is very less possibility of being breakable, being fraud and censorship [1] or third-party interference. These apps run on a customized block chain (a powerful shared global infrastructure). It is an environment for smart contracts written scripts (Turing complete scripts [2]) which are executed in a decentralized network. A peer-to-peer network of nodes (mutually distrusting) maintains a same view of the global state and executes code as they are called by the end users. The states are store in a block chain, and to make block secure POW (Proof of Work) consensus mechanism is used which looks as similar as to that in Bit coin. Decentralized applications (without depending upon a trusted third party) can be used in areas like crowd funding, financial services, identity management etc. This paper summarizes and focuses on basic intent of Ethereum and its working. In this paper technical overview of Ethereum is elaborated, paper shows some challenges faced with Ethereum protocol and some review on proposed solutions for those challenges.