ResearchBib Share Your Research, Maximize Your Social Impacts
Sign for Notice Everyday Sign up >> Login

Digital Currency: The Emergence of Bitcoins

Journal: International Journal of Science and Research (IJSR) (Vol.3, No. 6)

Publication Date:

Authors : ; ; ;

Page : 1466-1469

Keywords : Bitcoins; decentralized; peer to peer; crypto currency; fiat currency; cryptographic proof; bitcoin exchange; bitcoin wallet;

Source : Downloadexternal Find it from : Google Scholarexternal


Bitcoins are a crypto currency whose concept was developed in 2009 by Satoshi Nakamoto. Bitcoins are digital currencies which operate on a peer to peer system. The system is decentralized as there is no central regulatory authority as with fiat currency. For an individual to transact you need a bitcoin wallet which has one or more private and public keys associated with it. Unlike fiat currency and electronic payment methods such as Visa and MasterCard which are based on trust, Bitcoin usage is based on cryptographic proof. Bitcoin usage has been on the increase and they can be converted into fiat currency through bitcoin exchanges.

Last modified: 2014-06-27 19:15:52