Distributed System Cryptocurrency and Data Transfer

摘要

The dependency on technology has increased with the increase in population. Technology plays a crucial role in facilitating, organizing and securing people’s life nowadays. The Internet has penetrated every face of present-day lifestyles. Yet another ubiquitous use of digital technology today is evident in transferring money and speeding cross border payments that are done through digital transactions. This paper investigates transferring money and data through banks and companies by using the Blockchain concept through decentralized distributed system. The present research also peruses several contexts in which this technology has already been implemented successfully and demonstrates the advantages of replacing the paper money with digital money. Using cryptocurrency will facilitate people’s life by reducing time, securing the process of money transfer, and increasing data integrity. The primary benefit of this content analysis is that it addresses an innovative subject, in a new light and using timely recent research references drawn from 2018-2020. Thus, our study is a contemporary and conclusive source for all present and future endeavours being undertaken in the domain of using blockchain for e-transactions.