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BitCoin exclusively informational money: a valuable review from 2010 to 2017

Author

Listed:
  • Jyotir Moy Chatterjee

    (GD-RCET)

  • Le Hoang Son

    (Division of Data Science, Ton Duc Thang University
    Ton Duc Thang University)

  • Srijani Ghatak

    (RSR-RCET)

  • Raghvendra Kumar

    (LNCT Group of Colleges
    Vietnam National University)

  • Manju Khari

    (AIACT&R)

Abstract

In this paper, we provide a state of-the-art survey over Bitcoin related technologies and sum up various challenges. Bitcoin is the first and most prevalent decentralized crypto-currency to date. It is decentralized peer-to-peer digital currency in which coins are produced by an appropriated set of excavators and exchange are communicated by means of a peer-to-peer organize. While Bitcoin gives some level of secrecy by urging clients to have any number of irregular looking Bitcoin addresses, late research demonstrates that this level of obscurity is fairly low. This urges clients to associate with the Bitcoin arrange through anonymizers like Tor and propels advancement of default Tor usefulness for prevalent versatile customers. A low-asset aggressor can increase full control of data streams between all clients who utilized Bitcoin over Tor. Specifically, the aggressor can connect together client’s exchanges paying little respect to pen names, control which Bitcoin squares and exchanges are handed-off to the client and can defer or dispose of client’s exchanges and pieces. Bitcoins have risen as a conceivable competitor to regular monetary forms, yet other crypto-monetary forms have similarly showed up as competitors to the Bitcoin currency. The extending business sector of crypto-monetary forms now includes capital comparable to 1010 US Dollars, furnishing the scholarly community with a bizarre chance to examine the development of significant worth. Bitcoin is an absolutely online virtual currency, unbaked by either physical wares or sovereign commitment; rather, it depends on a mix of cryptographic security and a peer-to-peer protocol for seeing settlements. Understanding Bitcoin related technologies and challenges would help maximize its usage in community.

Suggested Citation

  • Jyotir Moy Chatterjee & Le Hoang Son & Srijani Ghatak & Raghvendra Kumar & Manju Khari, 2018. "BitCoin exclusively informational money: a valuable review from 2010 to 2017," Quality & Quantity: International Journal of Methodology, Springer, vol. 52(5), pages 2037-2054, September.
    • Handle: RePEc:spr:qualqt:v:52:y:2018:i:5:d:10.1007_s11135-017-0605-5
    DOI: 10.1007/s11135-017-0605-5
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    References listed on IDEAS

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    1. Luca Zanin, 2017. "The effects of various motives to save money on the propensity of Italian households to allocate an unexpected inheritance towards consumption," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(4), pages 1755-1775, July.
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    3. repec:jes:wpaper:y:2013:v:5:p:529-534 is not listed on IDEAS
    4. Sarah Rotman, 2014. "Bitcoin Versus Electronic Money," World Bank Publications - Reports 18418, The World Bank Group.
    5. Stefan Bornholdt & Kim Sneppen, 2014. "Do Bitcoins make the world go round? On the dynamics of competing crypto-currencies," Papers 1403.6378, arXiv.org.
    6. Mihaela Iavorschi, 2013. "The Bitcoin Project And The Free Market," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5(4), pages 529-534, December.
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    Cited by:

    1. Andrew Spurr & Marcel Ausloos, 2021. "Challenging practical features of Bitcoin by the main altcoins," Quality & Quantity: International Journal of Methodology, Springer, vol. 55(5), pages 1541-1559, October.
    2. Son, Pham Hai & Son, Le Hoang & Jha, Sudan & Kumar, Raghvendra & Chatterjee, Jyotir Moy, 2019. "Governing mobile Virtual Network Operators in developing countries," Utilities Policy, Elsevier, vol. 56(C), pages 169-180.
    3. Merediz-Solà, Ignasi & Bariviera, Aurelio F., 2019. "A bibliometric analysis of bitcoin scientific production," Research in International Business and Finance, Elsevier, vol. 50(C), pages 294-305.

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