Tracing Transaction Across Bitcoin Address Behaviour for Pattern Analysis

Abstract

Internet introduce modern digital currencies which have evolved from our fiat currencies. As the world faced a recession driven by centralized assets, an evolution took place. Additionally, banks charged negative interests on tangible property. When money was in danger, the Internet provided a solution that altered the global system of currency control. Bitcoin the pioneering cryptocurrency that has revolutionized digital finance. An n unchangeable record of every transaction is kept through the use of blockchain technology in it. The public disclosure of a cryptocurrency's whole the formation and transaction history fosters user confidence. People on the Bitcoin network deal with one another using anonymous Bitcoin addresses, never disclosing their true identities. To optimize their privacy and convenience, individuals frequently utilize many distinct email addresses. In this study it also examines academic literature to understand the various uses of Bitcoin. A comprehensive review of existing research is conducted to detail the characteristics and applications of Bitcoin. The paper utilizes primary information from scholarly articles and secondary data from publicly accessible case studies that are relevant to the topic. Beyond developing Bitcoin faces several challenges, including regulatory uncertainty, scalability issues. Although its initial appearance seemed to indicate hope for a better future, now it is hard to predict how bitcoin will emerge.