IDEAS home Printed from https://ideas.repec.org/a/spr/qualqt/v52y2018i5d10.1007_s11135-017-0605-5.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11135-017-0605-5
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11135-017-0605-5?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    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.
    2. Nicolas Houy, 2014. "It will cost you nothing to "kill" a proof-of-stake crypto-currency," Economics Bulletin, AccessEcon, vol. 34(2), pages 1038-1044.
    3. Sarah Rotman, 2014. "Bitcoin Versus Electronic Money," World Bank Publications - Reports 18418, The World Bank Group.
    4. Stefan Bornholdt & Kim Sneppen, 2014. "Do Bitcoins make the world go round? On the dynamics of competing crypto-currencies," Papers 1403.6378, arXiv.org.
    5. 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.
    6. repec:jes:wpaper:y:2013:v:5:p:529-534 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Beate Sauer, 2015. "Central Bank Behaviour Concerning the Level of Bitcoin Regulation as a Policy Variable," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 1(4), pages 273-286, April.
    2. Ke Wu & Spencer Wheatley & Didier Sornette, 2018. "Classification of cryptocurrency coins and tokens by the dynamics of their market capitalisations," Papers 1803.03088, arXiv.org, revised May 2018.
    3. Ladislav Kristoufek, 2015. "What Are the Main Drivers of the Bitcoin Price? Evidence from Wavelet Coherence Analysis," PLOS ONE, Public Library of Science, vol. 10(4), pages 1-15, April.
    4. Kristoufek, Ladislav, 2018. "On Bitcoin markets (in)efficiency and its evolution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 503(C), pages 257-262.
    5. Espinoza-Licona, David R. & Pérez-Sosa, Felipe A., 2019. "El bitcoin, ¿una burbuja especulativa? Análisis de la estabilidad paramétrica de series de tiempo para el periodo 2009-2018," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 14(51), pages 45-60, Segundo s.
    6. Nicola Dimitri, 2022. "The Economics of Consensus in Algorand," FinTech, MDPI, vol. 1(2), pages 1-16, May.
    7. Beate Sauer, 2016. "Virtual Currencies, the Money Market, and Monetary Policy," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 22(2), pages 117-130, May.
    8. Jian Wang & Qianggang Wang & Niancheng Zhou & Yuan Chi, 2017. "A Novel Electricity Transaction Mode of Microgrids Based on Blockchain and Continuous Double Auction," Energies, MDPI, vol. 10(12), pages 1-22, November.
    9. Russ, Meir, 2016. "The probable foundations of sustainabilism: Information, energy and entropy based definition of capital, Homo Sustainabiliticus and the need for a “new gold”," Ecological Economics, Elsevier, vol. 130(C), pages 328-338.
    10. Jamal Bouoiyour & Refk Selmi & Aviral Kumar Tiwari, 2015. "Is Bitcoin Business Income Or Speculative Foolery? New Ideas Through An Improved Frequency Domain Analysis," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 10(01), pages 1-23.
    11. Cecilie Toftdahl Olesen & Kim Sneppen, 2020. "Modelling value bubbles in an attention based economy," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 93(3), pages 1-5, March.
    12. A. Seetharaman & A.S. Saravanan & Nitin Patwa & Jigar Mehta, 2017. "Impact of Bitcoin as a World Currency," Accounting and Finance Research, Sciedu Press, vol. 6(2), pages 230-230, May.
    13. Bouoiyour, Jamal & Selmi, Refk & Tiwari, Aviral, 2014. "Is Bitcoin business income or speculative bubble? Unconditional vs. conditional frequency domain analysis," MPRA Paper 59595, University Library of Munich, Germany.
    14. Luisanna Cocco & Michele Marchesi, 2016. "Modeling and Simulation of the Economics of Mining in the Bitcoin Market," PLOS ONE, Public Library of Science, vol. 11(10), pages 1-31, October.
    15. Peter Fratrič & Giovanni Sileno & Sander Klous & Tom Engers, 2022. "Manipulation of the Bitcoin market: an agent-based study," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-29, December.
    16. Corbet, Shaen & Lucey, Brian & Urquhart, Andrew & Yarovaya, Larisa, 2019. "Cryptocurrencies as a financial asset: A systematic analysis," International Review of Financial Analysis, Elsevier, vol. 62(C), pages 182-199.
    17. Baocheng Wang & Zetao Li & Haibin Li, 2020. "Hybrid Consensus Algorithm Based on Modified Proof-of-Probability and DPoS," Future Internet, MDPI, vol. 12(8), pages 1-16, July.
    18. Zargar, Faisal Nazir & Kumar, Dilip, 2019. "Long range dependence in the Bitcoin market: A study based on high-frequency data," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 515(C), pages 625-640.
    19. Elendner, Hermann & Trimborn, Simon & Ong, Bobby & Lee, Teik Ming, 2016. "The cross-section of crypto-currencies as financial assets: An overview," SFB 649 Discussion Papers 2016-038, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    20. repec:hum:wpaper:sfb649dp2016-038 is not listed on IDEAS
    21. Nicolas Houy, 2014. "The economics of Bitcoin transaction fees," Working Papers halshs-00951358, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:qualqt:v:52:y:2018:i:5:d:10.1007_s11135-017-0605-5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.