Survey on Surging Technology: Cryptocurrency

  • Authors

    • Swathi Singh
    • Suguna R
    • Divya Satish
    • Ranjith Kumar MV
    2018-07-20
    https://doi.org/10.14419/ijet.v7i3.12.16045
  • Blockchain, Cryptocurrency.

  • The paper gives an insight on cryptography within digital money used in electronic commerce. The combination of digital currencies with cryptography is named as cryptocurrencies or cryptocoins. Though this technique came into existence years ago, it is bound to have a great future due to its flexibility and very less or nil transaction costs. The concept of cryptocurrency is not new in digital world and is already gaining subtle importance in electronic commerce market. This technology can bring down various risks that may have occurred in usage of physical currencies. The transaction of cryptocurrencies are protected with strong cryptographic hash functions that ensure the safe sending and receiving of assets within the transaction chain or blockchain in a Peer-to-Peer network. The paper discusses the merits and demerits of this technology with a wide range of applications that use cryptocurrency.

     

     

  • References

    1. [1] Satoshi Nakamoto, “Bitcoin: A Peer-To-Peer Electronic Cash Systemâ€, https://bitcoin.org

      [2] Bastiaan Quast, “Bitcoin and Cryptocurrencies: Or How Inflation Will Come About in Cybermoneyâ€, February 2014, 20th International Conference on Computational Engineering, Geneva.

      [3] Decker C., Wattenhofer R., “Information propagation in the Bitcoin networkâ€, IEEE International Conference on Peer-to-Peer Computing, 2013, Zurich.

      [4] Neil Gandal., Hanna Halaburda., “Competition in the Cryptocurrency Marketâ€, September 2014, Currency Department, Bank of Canada, Ontario.

      [5] Mitsuru Iwamura, Yukinobu Kitamura, Tsutomu Matsumoto, “Is Bitcoin the Only Cryptocurrency in the Town?â€, February 2014, Institute of Economic research, Hitsubashi University.

      [6] Alex Heid, Analysis of the Cryptocurrency Marketplace, http://www.HackMiami.org

      [7] Eyal and E. G. Sirer. Majority is not enough: Bitcoin mining is vulnerable. In Financial Cryptography and Data Security, pages 436-454. Springer, 2014.

      [8] https://en.wikipedia.org/wiki/Cryptocurrency

      [9] https://coinmarketcap.com/

      [10] S. King and S. Nadal. Ppcoin: Peer-to-peer crypto-currency with proof-of-stake. self-published paper, August, 19, 2012.

      [11] Reid, F., Harrigan M.: An Analysis of Anonymity in the Bitcoin System, arXiv:1107.4524v2 [physics.soc-ph] 7 May 2012.

      [12] Holz, T., Steiner, M., Dahl, F., Biersack, E., Freiling, F.C.. Measurements and mitigation of peer-to-peer-based botnets: A case study onstorm worm. Proceedings of the USENIX Workshop on Large-Scale Exploits and Emergent Threats 2008.

      [13] Stock, B., Gobel, J., Engelberth, M., Freiling, F.C., Holz, T.. Walowdac-analysis of a peer-to-peer botnet. In: Proceedings of the European Conference on Computer Network Defense (EC2ND). 2009.

      [14] Rossow, C., Andriesse, D., Werner, T., Stone-Gross, B., Plohmann, D., Dietrich, C.J., et al. P2PWNED: modeling and evaluating the resilience of peer-to-peer botnets. In: Proceedings of the 34th IEEE Symposium on Security and Privacy (S&P). 2013.

      [15] Meiklejohn, S., Pomarole, M., Jordan, G., Levchenko, K., McCoy, D., Voelker, G.M., et al. A fistful of bitcoins: Characterizing payments among men with no names. In: Proceedings of the Internet Measurement Conference. 2013.

      [16] Karame, G.O., Androulaki, E., Capkun, S.. Double-spending fast payments in bitcoin. In: Proceedings of the 2012 ACM conference on Computer and Communications Security. 2012.

      [17] Ron, D., Shamir, A.. Quantitative analysis of the full bitcoin transaction graph. IACR Cryptology ePrint Archive 2012.

      [18] Ober, M., Katzenbeisser, S., Hamacher, K.. Structure and anonymity of the bitcoin transaction graph. Future Internet 2013.

      [19] Litke, P., Stewart, J.: Cryptocurrency-stealing malware landscape (2014) [Online, Retrieved March, 2014].

      [20] Bamert, T., Decker, C., Elsen, L., Wattenhofer, R., Welten, S.: Have a Snack, Pay with Bitcoins. In: 13th IEEE International Conference on Peer-to-Peer Computing (P2P), Trento, Italy. (2013).

      [21] Boehm, F., Pesch, P.: Bitcoin: A First Legal Analysis - with Reference to German and American Law. In: Workshop on Bitcoin Research. (2014).

      [22] Bentov, C. Lee, A. Mizrahi, and M. Rosenfeld. Proof of activity: Extending bitcoin's proof of work via proof of stake [extended abstract] ACM SIGMETRICS Performance Evaluation Review, 42(3):34-37, 2014.

      [23] https://bitcoinmagazine.com/articles/quarkcoin-noble-intentions-wrong-approach-1387343686

      [24] G. Wood. Ethereum: A secure decentralized generalised transaction ledger. Ethereum Project Yellow Paper, 2014.

      [25] Sarah Meiklejohn, Marjori Pomarole, Grant Jordan, Kirill Levchenko, Damon McCoy, Geoffrey M. Voelker, and Stefan Savage. A fistful of Bitcoins: Characterizing payments among men with no names. In Proceedings of the 2013 Conference on Internet Measurement Conference, IMC '13, pages 127-140, 2013.

      [26] http://www.coindesk.com/information/comparing-litecoin-bitcoin/

      [27] Kumar, M.V.R., Bhalaji, N. & Singh, S. “An augmented approach for pseudo-free groups in smart cyber-physical system†Cluster Comput (2018). https://doi.org/10.1007/s10586-018-2353-2.

  • Downloads

  • How to Cite

    Singh, S., R, S., Satish, D., & Kumar MV, R. (2018). Survey on Surging Technology: Cryptocurrency. International Journal of Engineering & Technology, 7(3.12), 296-299. https://doi.org/10.14419/ijet.v7i3.12.16045