Bitcoin Resource: Anonymity & Challenges

Abstract
Different types of cryptocurrency and their transaction technologies are getting popularity among the people and various groups. In this paper we tried to show how bitcoin network is working despite the fact of its anonymity. We found about a fixed number of total bitcoins which was mentioned as resource of bitcoin. But we don’t know if it is really existing or any equivalent resource to bitcoin is available or not. Thus, we can say the network system could be based on a hype where the system is still working effectively. And there is one challenging thing that, those who mine bitcoin need to solve algorithm related problems, and for that very high configuration PC is required. In this work, initially we have conducted query on two things. One is its anonymity and the other one is about the possibility of mining bitcoin in general PC. For this, it seems from normal computer it may not be possible to mine bitcoin or it could damage the PC if it is attempted. Moreover, further investigation may uncover new ways to explore in this field.
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Department Name
Electrical and Computer Engineering
Publisher
North South University
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