#ETHProspects

Ethereum (Buterinet al., 2014) is an open-source blockchain-oriented platform that supports decentralized computing and the execution of smart contracts. The Ethereum can be used to deploy public blockchain-oriented services to capture the Business-to-Consumer (B2C) market. Ethereum, which went public on 30 July 2015 was developed by Vitalik Buterin. Ethereum enables the development and deployment of Decentralized Applications (DApps), whereby Dapps are applications that run on the P2P network and are not controlled by any single authority. Ethereum comes with a Turing-complete Ethereum Virtual Machine (EVM), which allows the execution of scripts on the Ethereum network. With the assistance of EVM, the development of blockchain applications with enhanced scalability, interoperability, feature-fullness has been made simplified. The transactions in Ethereum are based on state transition functions so the Ethereum can be regarded as a transaction-based state machine (Wood, 2014).