Block Chain Technology and Cryptocurrency
Scaria Alex1, T Dhiliphan Raj Kumar2
1Dr. T Dhiliphan Raj Kumar, Assistant Professor, Department of Computer Science and Engineering, Kalasalingam University, Krishnankoil (Tamil Nadu), India.
2Mr. Scaria Alex Research Scholar, Department of Computer Science and Engineering, Kalasalingam University, Krishnankoil (Tamil Nadu), India.
Manuscript received on 01 December 2019 | Revised Manuscript received on 19 December 2019 | Manuscript Published on 31 December 2019 | PP: 588-593 | Volume-8 Issue-4S2 December 2019 | Retrieval Number: D11181284S219/2019©BEIESP | DOI: 10.35940/ijrte.D1118.1284S219
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: As the online transactions aregrowing the security and new technological advancements are a recent concern. A decentralized architecture and distributed computing paradigm have given birth to cryptocurrencies that embed the blockchain technology. Bitcoin is one such currency which is revolutionizing the digital transaction field. The asymmetric cryptography is used to register and transfer the cryptocurrencies along with various algorithms like Proof-ofstake and Proof-of-work. The main advantage of the method is difficulty in counterfeiting, destroying and mining the currencies. In this paper, a detailed study on cryptocurrency and blockchain is carried out giving an oversight to the emerging technology. The recent trends have results showing the emergence of mobile cryptocurrency based digital transactions to be of higher rate due to the high popularity of Bitcoin and Ethereum. The use of Bitcoins and other cryptocurrencies have lured the transaction costs.
Keywords: Bitcoin, Cryptocurrency, Blockchain, Decentralized, Distributed.
Scope of the Article: Block Chain-Enabled IoT Device and Data Security and Privacy