The Future of Bitcoin

Abstract

Evolved by way of an anonymous programmer, Bitcoin is a global cryptocurrency and a machine for virtual currency. The transactions take location immediately among the users minus any intermediaries. Bitcoin is an awesome mode of exchange whilst in comparison to traditional banks. Those transactions are verified through network nodes and recorded in a public dispensed ledger called blockchain. The price of bitcoins are volatile i.e. they could unpredictably boom or lower over a quick time period. They are taken into consideration excessive-danger assets whose transactions can simplest be refunded and not reversed. The bitcoin came into life in January 2009, with Satoshi Nakamoto mined the primary block of bitcoins ever. Given that then, some of supporters engaged in transactions and acquired bitcoins. International locations round the world started out accepting bitcoin as a legitimate mode of currency like the United States. However, some countries like Djibouti haven’t legalized yet the usage of this foreign money due to some of reasons. The targets of this paper are to understand the awareness about the existence of bitcoins, to evaluate the perception of bitcoin as the future currency and to research the possibility of legalization of bitcoins in Djibouti.

Keywords: Bitcoin, cryptocurrency, decentralized, experimental, legalization, security.