Cryptocurrency Research Paper

They are, therefore, considered immune to government interference, a feature that makes them are arguably “organic”. Blockchains, are lists of records, known as blocks, that keep growing continuously and which are connected and protected by the use of cryptography. Typically, each block comprises cryptographic bits of the preceding block, a timestamp and operation data. Blockchains are naturally resilient to adjustment of its data by design. Advantages The virtual nature of cryptocurrencies make them hard to counterfeit. Some money transfer platforms have already synced with Bitcoin, making the access even more easy to internet users. Disadvantages In as much as the blockchain is a huge impact on the internet usage, all the nodes that maintain the blockchain perform the same function. They verify the same transaction according to the the same rules.