Cryptocurrency: Failure’s and Ways to Deal it IJTSRD
The Crypto currency is a digital currency, it is created managed through the use of advanced encryption techniques known as cryptography. In 2009 the Bit coin software made available to the public for the first time. In April 2013 it captured significant investor and media attention. Their flow is determined entirely by market demand and they are not controlled or regulated by some singular authority. Crypto currencies were designed as decentralized systems because it lack a central authority to mediate transactions. In Bit coin if you had invested just $1,000 in first year, now you would be richer to the tune of $16,000. Now you don’t want to wake up one day and find that someone hacked your machine and took off with $10,000 of your hard-earned money. Cryptocurrencies are decentralized. Making everyone’s life nightmare because there is no middle men, no centralized ‘œtrusted’ entity. But with great power comes great responsibility. There’s nobody to call to get your money back. You can’t dispute the transaction. There’s nobody to reset your password if you forget it. This Paper is mostly about dealing with a technical failure in a block chain by using the governance layer.
Shreya D. Poojary | Swastika A. Singh”Cryptocurrency: Failure’s and Ways to Deal it”
Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-4 , June 2018,
URL: http://www.ijtsrd.com/papers/ijtsrd15614.pdf
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