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1.1 Preview Bitcoin (also known as BTC) is a cryptocurrency created by Satoshi Nakamoto and released in 2009 [1]. Satoshi Nakamoto is not the real name of Bitcoin creator; instead, it is the pseudonym. Bitcoin is a distributed, decentralized, peer-to-peer virtual cryptocurrency. Since Bitcoin is a virtual cryptocurrency, it does not have any shape and size like the currencies we use today and is stored in Bitcoin wallets which are created to store virtual currencies. Bitcoins can be transferred to each other using the Bitcoin address. Since its inception, it has grown both in popularity and its use. There are three different ways to get Bitcoin. One way is to buy them from an exchange, which is the process of converting local currency to Bitcoin. The other way is to get it from Bitcoin ATM that are installed on several places around the world and the other way is to mine them. The main protocol lying behind the Bitcoin is blockchain which is truly an innovative invention of this century. Bitcoin is created by the process called mining [1]. The individual who mines Bitcoin are called miners. The Bitcoin network is operated and secured by miners. Bitcoin can be used as a replacement for physical money in terms of buying and selling goods. It can be purchased, sold and even exchanged for other physical currencies. Since the introduction of Bitcoin in 2009, it has grabbed attention from numerous sectors mainly targeting business, industry and academic sector. With a market capitalization of $88,604,642,423 USD and more than 300,712 aggregate numbers of confirmed transactions per day (March 2019), Bitcoin is considered to be the most successful cryptocurrency to date. Chapter 1 INTRODUCTION 1PDF Image | Analysis of Bitcoin Cryptocurrency and Its Mining Techniques
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