Open AccessBlockchain Technology and Cryptocurrency
Author(s) -
Scaria Alex,
T Dhiliphanrajkumar,
Mr Scaria
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.d1118.1284s219
Subject(s) - cryptocurrency , blockchain , digital currency , popularity , proof of work system , database transaction , computer science , cryptography , computer security , currency , world wide web , database , economics , monetary economics , law , political science , payment
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.