Ethereum: Introduction, Expectation, and Implementation

Abstract

As the Blockchain technology develops, more and more cryptocurrencies were invented after Bitcoin. This paper introduces the technology of Blockchain, including the basic concept of Blockchain and how Blockchain works to allow decentralization of trades; The system of Ethereum and the cryptocurrency Ether (ETH), how it was invented, what was the central mission of its invention, as well as how it differs from Bitcoin and how can it allow more decentralized application to be developed, which in turn illustrates what it means and where its values lie. As all cryptocurrency markets have a huge fall in value in the year 2022, as shown in figure 1, many people are losing faith in cryptocurrency. Many believe that since it is entirely digital and non-government based, it has no actual value, that the entire cryptocurrency market is a bubble. Meanwhile, cryptocurrencies introduce a very revolutionary concept, which is the decentralization of applications, and this decentralization can apply to many things, leading to a great technological structure modification, even for social structures. Because of its anonymous and democratic nature, there is also always going to be demand for cryptocurrencies. Thus, this paper also analyzes the expectations of cryptocurrency, mainly Ether, and the predictions of its future development.