Use of Bitcoin as a Cryptocurrency

Abstract

The perfect currency should have limited supply, easily recognizable, durable, as well as portable. Bitcoins as one of the cryptocurrencies have tremendous benefits for most marginalized people, merchants, tax departments and regulatory authorities. It has better price discovery, is anti-inflationary. Because of less awareness among people there are less research work. Many people are unaware of the usefulness and technology related to cryptocurrency. This paper aims at to review working of Bitcoin technology and to explore technological aspects of this cryptocurrency. It also discusses the possibilities of Bitcoin’s implementation as currency in India