International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Since Year 2012 | Open Access | Fully Refereed | Peer Reviewed

ISSN: 2319-7064




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Survey Paper | Financial Engineering | India | Volume 3 Issue 6, June 2014


Digital Currency: The Emergence of Bitcoins

Thabiso Peter Mpofu [6] | Budwell Masaiti [2] | Macdonald Mukosera [4]


Abstract: Bitcoins are a crypto currency whose concept was developed in 2009 by Satoshi Nakamoto. Bitcoins are digital currencies which operate on a peer to peer system. The system is decentralized as there is no central regulatory authority as with fiat currency. For an individual to transact you need a bitcoin wallet which has one or more private and public keys associated with it. Unlike fiat currency and electronic payment methods such as Visa and MasterCard which are based on trust; Bitcoin usage is based on cryptographic proof. Bitcoin usage has been on the increase and they can be converted into fiat currency through bitcoin exchanges.


Keywords: Bitcoins, decentralized, peer to peer, crypto currency, fiat currency, cryptographic proof, bitcoin exchange, bitcoin wallet


Edition: Volume 3 Issue 6, June 2014,


Pages: 1466 - 1469

Digital Currency: The Emergence of Bitcoins


How to Cite this Article?

Thabiso Peter Mpofu, Budwell Masaiti, Macdonald Mukosera, "Digital Currency: The Emergence of Bitcoins", International Journal of Science and Research (IJSR), https://www.ijsr.net/get_abstract.php?paper_id=2014490, Volume 3 Issue 6, June 2014, 1466 - 1469, #ijsrnet

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