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An Explorative Analysis on Bitcoin using Blockchain Technology
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Keywords

Bitcoin
Blockchain
Hashing
Bitcoin mining
Crypto-money
Digital currency

How to Cite

Saradha R, & Sathish, V. (2023). An Explorative Analysis on Bitcoin using Blockchain Technology. SOUTH INDIA JOURNAL OF SOCIAL SCIENCES, 21(2), 17-32. https://journal.sijss.com/index.php/home/article/view/57

Abstract

Bitcoin is a shared computerized, decentralized digital currency made by a person under the pseudonym Satoshi Nakamoto. Indeed, it is the main computerized, decentralized money. A few engineers and associations have investigated the significance of advanced crypto-money and the idea of the blockchain. Bitcoin is thought to be one of the protected and agreeable installment techniques that can be utilized in the forthcoming days. The foundation of Bitcoin mining is the idea of the blockchain, which is accepted to be one of the brilliant creations of this century. The blockchain is the assortment of squares connected so that the past block's hash is contained in the current square. Any difference in data in any squares in a blockchain brings about a blunder in the general blockchain. Bitcoins are created by an interaction called mining, where excavators settle a complex numerical riddle. The diggers are contending with one another to mine the Bitcoin as quickly as could be expected and guarantee the award. We propose an effective method of mining Bitcoin by dissecting a few outcomes through self-explore, on the web trade market information, ongoing Bitcoin block information, distinctive mining pools' productivity information, and significantly more. A few variables are should have been thought about during mining since we may never mine a solitary Bitcoin regardless of whether we contribute a huge number of dollars on mining Bitcoin.

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