Demistifying Ethereum Technology

Abstract

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled. Here, in this chapter, the authors demystify Ethereum cryptocurrency. Initially, they introduce the said topic. While explaining, they follow a layered approach and explain each layer that is contributing in transactions. Eventually, they show the challenges for Ethereum cryptocurrency.