Global Bitcoin Analysis - Key Concepts, Technologies & Forecasts

DUBLIN, Dec. 18, 2015 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/3vpngr/bitcoin_key) has announced the addition of the "Bitcoin - Key Concepts " report to their offering.

This comprehensive report contains:

Identification of Bitcoin Application Stack

• The ICT team drew up the Bitcoin development project and generated a model which encompassed all its component parts.
• Different projects on the Bitcoin blockchain were considered and divided into component parts.

Bitcoin Explanation

• The fundamental workings of Bitcoin were extracted into pieces.
• These pieces were compiled into a narrative and given an easy-to-understand flow, removing extraneous detail.

Use Cases

• The use cases of Bitcoin were brainstormed and brought together under general categories.
• Existing and theoretical projects were considered, but categories were limited to use cases possible under the current iteration of Bitcoin development.

Key Findings:

• Bitcoin is the first successful digital currency. Its success lies in its ability to create consensus for a transaction database, a blockchain, between a large number of independent sources, or nodes. Bitcoin has a number of unique and powerful properties.
• The blockchain is a ledger encompassing the history of every Bitcoin transaction that has ever taken place. It is held and maintained by every node on the network simultaneously.
• Blockchains are cryptography-based, distributed databases which verify data or transaction across a network. Blockchain is the technology that supports cryptocurrencies such as Bitcoin, but it can support the transaction of any data or digital asset.
• Applications of Bitcoin range from conventional payment to microfinance, remittances, autonomous software entities, digital resource trade networks, and crowdfunding.
• Bitcoin is the first killer application for blockchain technology in the same way email was the first killer application for the Internet.
• Since the conceptual stages of Bitcoin, blockchain technology would clearly find uses far beyond cryptocurrency. Companies across multiple verticals have been experimenting with the technology and many have found ways to circumvent its limitations by using other blockchains for their own particular needs.

Companies Mentioned:

• Airbnb
• Uber

Report Structure:

1. Executive Summary

2. Methodology

3. Introduction to Bitcoin

4. Bitcoin-Blockchain's First Application

5. Conclusions

6. Appendix

For more information visit http://www.researchandmarkets.com/research/3vpngr/bitcoin_key

Media Contact:

Laura Wood, +353-1-481-1716, [email protected]

SOURCE Research and Markets

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