Cryptocurrency bounced back based on cryptography technology during the COVID-19 pandemic

Abstract

We all realized that the Corona pandemic created a shift in the daily life style of individuals and organizations based on few rules like Touch-less, contact-less and spacing between individuals which all prevent the spread of this new virus. We also noticed that digital technologies were the valuable tool to cope with this new life style. Teaching remotely, working from home, examining patients using mobile applications, and paying the bills from your PC are all examples of mobilization of digital technologies to respond to the current crisis. Of course, the extensive use of remote applications requires as much confidentiality and security as possible due to the privacy related information, or due to the financial transactions. Cryptography and its applications seemed to be the adequate solution to the security issue. And one of the hot cryptography applications are BlockChains which were the heart of cryptocurrency appearance as an alternative for digitized money. This paper discusses the cryptocurrency and its mechanisms as ways to support the online transactions within the new corona lifestyle. The aim of this paper is to describe how cryptography reinforced the use of cryptocurrency application based on blockchain technology. We emphasize on the fact that asymmetric cryptography-based security represents a powerful tool for these applications.