A comprehensive study on three pillars of cryptocurrency and blockchain technology

Abstract

Bitcoin and crypto currencies are only two of the latest platitudes in financial markets. Cryptocurrencies have recently received a lot of media attention, which is one of the reasons for their present popularity. This study conceptually discusses the three pillars, cryptography, peer to peer network and proof of work, important to cryptocurrencies, due to their ever-increasing popularity as new financial instruments. The study conceptually discusses the chronology of money till cryptocurrency and their middle events. It further discusses the three necessary phenomena of cryptocurrency trading and the reason of its development as most trusted mode of payment among young population.