A most significant current widely used is Bitcoin. Satoshi

A cryptocurrency is a digital currency designed to
work as a standard of exchange that uses cryptography for safekeeping.(D’Alfonso, Langer, & Vandelis, 2016). In the world for
cryptocurrency, it has over 800 types of cryptocurrency for people to choose,
but the most significant current widely used is Bitcoin. Satoshi Nakamoto was
firstly established the Bitcoin, and Bitcoin is designed as a peer-to-peer
network where prevents cash from double-spending.(D’Alfonso et al., 2016). Bitcoin is a new
form of secure currency that does not need a bank government agency or
middleman to operate. As a result, it’s effects a certain part monetary system
operates outside government regulation, threatens the consistency of financial
systems and financial sovereignty of countries.

It is a fully digital currency and to exchange
bitcoins between computer in a worldwide peer-to-peer network. The whole point
is sharing stuff like letting people make copies to download. The people with
the system just carry out transaction among themselves what is called a
decentralized network or blockchain. Blockchain uses as to structure all the
data and which allow the creation of decentralized digital ledgers where a
person cannot be hacking another transaction.

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Blockchain record every bitcoin transaction that has
ever happened. Even though it is a central record, there is no official group
of people who update the ledger and keep track of everybody’s money like a bank
does and it is decentralized. This means, anybody can volunteer to keep the
blockchain up to date with all the new transactions. It’s all works because
there’s a lot of people keeping track of the same thing and to make sure that
all transaction is accurate.

Bitcoin one of the fastest growing assets in all
history. The bitcoin system in the unit of account is bitcoin. Miners is known
as sovereign individuals and firms who own the governing computing power and
participate in the Bitcoin Network. Motivated by rewards (the release of new
bitcoin) and transaction fees paid in bitcoin. They have an authority enforcing
to decentralized the credibility of the Bitcoin Network(Kotobi & Bilen, 2017) . Bitcoin used as
alternative units are mBTC (millibitcoin) and satoshi in a small amount of
bitcoin. A satoshi is one of the smallest amount inside bitcoin representing 0.00000001
bitcoin divisible to eight decimals, one hundred millionth of a bitcoin. 0.001
bitcoin is the same equal to a millibitcoin, one thousandth of a bitcoin or
100,000 satoshi(Seetharaman, Saravanan, Patwa, & Mehta, 2017).