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

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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.

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Acknowledgements

Prof. Raghvendra Kumar would like to thank the Center for High Performance Computing, VNU University of Science, Vietnam National University, Hanoi, Vietnam for supporting facilities during his part-time internship.

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Authors and Affiliations

  1. Department of Computer Science and Engineering, GD-RCET, Bhilai, India

    Jyotir Moy Chatterjee

  2. Division of Data Science, Ton Duc Thang University, Ho Chi Minh City, Vietnam

    Le Hoang Son

  3. Faculty of Information Technology, Ton Duc Thang University, Ho Chi Minh City, Vietnam

    Le Hoang Son

  4. Department of Computer Science and Engineering, RSR-RCET, Bhilai, India

    Srijani Ghatak

  5. Department of Computer Science and Engineering, LNCT Group of Colleges, Jabalpur, India

    Raghvendra Kumar

  6. VNU University of Science, Vietnam National University, Hanoi, Vietnam

    Raghvendra Kumar

  7. Department of Computer Science and Engineering, AIACT&R, Delhi, India

    Manju Khari

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  1. Jyotir Moy Chatterjee
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  4. Raghvendra Kumar
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Correspondence to Le Hoang Son.

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Chatterjee, J.M., Son, L., Ghatak, S. et al. BitCoin exclusively informational money: a valuable review from 2010 to 2017. Qual Quant 52, 2037–2054 (2018). https://doi.org/10.1007/s11135-017-0605-5

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