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25 May 2023 Secrets behind virtual gold: basics of blockchain and cryptocurrencies
Yubo Di
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Proceedings Volume 12636, Third International Conference on Machine Learning and Computer Application (ICMLCA 2022); 126362X (2023) https://doi.org/10.1117/12.2675429
Event: Third International Conference on Machine Learning and Computer Application (ICMLCA 2022), 2022, Shenyang, China
Abstract
In recent years, blockchain and cryptocurrencies have become popular topics. The significant increase in the cryptocurrency market attracts more people devoted to these fields. Many people consider cryptocurrencies a revolutionary invitation or a path to wealth; some believe it is a colossal fraud. Although some research has been conducted, cryptocurrency's primary mechanism and concept are still confusing for ordinary people. Thus, in the research, we dig into blockchain technology and provide a lucid explanation of some fundamental mechanisms. The research has chosen four popular cryptocurrencies (Bitcoin, Litecoin, Dogecoin, and Ethereum) as examples, and some of their essential features will be introduced. Then, the article focuses on the consensus mechanisms and why people always talk about "mining" new coins. Finally, we analyze the usability of blockchain technology and the discussion about the future of cryptocurrencies.
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Yubo Di "Secrets behind virtual gold: basics of blockchain and cryptocurrencies", Proc. SPIE 12636, Third International Conference on Machine Learning and Computer Application (ICMLCA 2022), 126362X (25 May 2023); https://doi.org/10.1117/12.2675429
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