Ethereum: State of Knowledge and Research Perspectives

Ethereum is a major blockchain-based platform for smart contracts – Turing complete programs that are executed in a decentralized network and usually manipulate digital units of value. A peer-to-peer network of mutually distrusting nodes maintains a common view of the global state and executes code upon request. The stated is stored in a blockchain secured by a proof-of-work consensus mechanism similar to that in Bitcoin. The core value proposition of Ethereum is a full-featured programming language suitable for implementing complex business logic.

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