I recently found some emeralds while searching in a cave for some diamonds. Other than creating an emerald block, what other purposes do the emeralds serve?
Emerald is an item which was added in the 0.9.0 update, obtainable by mining Emerald Ore. On the PC and Console editions, it is used for trading with villagers. But, as villagers will have degraded AI, trading will not be possible as of yet, so it's only function would be to craft an emerald block and use it as a decorative item. Emeralds can also be obtained from village chests or mineshaft chests, though rarely.