Research Aim: There has been a massive uproar regarding the authentication, authorization, and accounting of blockchain technology. In simple terms, the security of blockchain technology is questioned and under scrutiny; due to many attacks, the system has suffered. The data and information of users are compromised after every attack, which is why people now use these currencies with caution. This study will perform an in-depth analysis as to how the Ethereum blockchain currently works and how it can be improved. The three characteristics of blockchain technology, including authenticating, authorizing, and accounting, will be explored in detail. A new and better protocol will be suggested, and its benefits and flaws will also be explained.