Bitcoin and its Real Time Applications

Rishika Malli

Abstract: The working design of Bitcoin transaction in peer-to-peer network is explained, the security features of Bitcoin including circulation and alteration in the previous Bitcoin transaction is illustrated. Results on the future application of Bitcoin and the possibility of replacement of Bitcoin are discussed. The important factors that determine the future of Bitcoin circulation, price, and scope in future are analyzed which only prove that Bitcoins are here to stay. Applications of Bitcoin include Bitcoins as a transmission of renewable energy such as solar energy, Bitcoin Satellite which enable the latest transaction data processed by the Bitcoin network, and Kryptoradio that facilitates the broadcasting of the transaction data and provide updates using radio waves.

Keywords: open source, peer-to-peer P2P, cryptography, bitcoin, blockchain