Blockchain Technology behind Cryptocurrency and Bitcoin for Commercial Transactions

Abstract

Blockchain is a technology used as a digital data record system connected through cryptography. Meanwhile, cryptocurrency is a digital asset that is understood as a digital currency mainly based on blockchain technology. This research aims to understand how blockchain works inside cryptocurrency by conducting a systematic literature review (SLR). In future, it may the cryptocurrency will replace paper currency into digital currency. Blockchain serves to be a security system to prevent loss or duplication of data. With this new technology makes the security system especially for finance to be improved. Based on our study, it can be concluded that blockchain is the right technology for cryptocurrency in commercial transactions because it allows cryptocurrency to work without a central authority. This can reduce risk as well as transaction costs.