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The bits of Bitcoin

  • Unique Paper ID: 145188
  • Volume: 4
  • Issue: 7
  • PageNo: 707-712
  • Abstract:
  • Today crypto currencies have become a global trend known to most people. While still it is not understood by most people, banks, governments and only few companies are aware of its importance. A cryptocurrency is a digital or virtual currency that uses cryptography for security and are digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. A cryptocurrency is difficult to counterfeit because of this security feature. Blockchain is a decentralized transaction and data management technology developed first for Bitcoin cryptocurrency. Bitcoin and blockchain technology have gained a lot of international attention over past years especially after 2009. The technology is very new and supports cryptocurreny. This article provides an insight to bitcoins and its underlying of blockchain, and also analyse the benefits and concerned associated with bitcoins. This article is based on secondary data collected from books, magazines, research articles and newspapers. The future and further success of cryptocurrencies depends upon the way regulatory frameworks are devised.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 4
  • Issue: 7
  • PageNo: 707-712

The bits of Bitcoin

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Impact Factor
8.01 (Year 2024)
UGC Approved
Journal no 47859

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