Bitcoin, as a cryptocurrency and an alternative payment solution has gained popularity in certain circles. Existing\nliterature offers discussions that are very specific, oftentimes about Bitcoin-related technical issues, but few takes the\nperspective of an overview that offers an understanding of how Bitcoin may work to the potential user. Though some\nlevel of technical understanding is required to appreciate the workings of Bitcoin, it is not necessary to fully understand\nBitcoin�s computational system. The goal of this paper is to provide a working overview to Bitcoin, while highlighting\ncurrent issues and possible advantages. Published literature is reviewed, along with current developments published on\nreliable Bitcoin-related websites and news reports, to ensure relevancy and timeliness as far as possible. The research\nconducted revealed that Bitcoin has many issues to be resolved before it can be taken as a mainstream payment option\nand currency, but has defined advantages that may only be developed with the advancement of time and consequently\ntechnology.
Loading....