Theoretical and Natural Science
- The Open Access Proceedings Series for Conferences
Theoretical and Natural Science
Vol. 2, 20 February 2023
Open
Access | Article
Analysis of the Current Situation of Virtual Currency Based on Statistical Data and Prospects for Its Future Model
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Abstract
Bitcoin is known to the world from its birth to the present, and it only took 13 years. In the past 13 years, countless virtual currencies have flourished. In the rapid development of virtual currencies, many problems have been revealed. This article will mainly discuss (1) energy consumption, (2) miner consolidation, (3) encryption security and finally (4) miner income volatility through different types of virtual currency data. And use Android virtual currency as a case to look forward to virtual currency The direction of development. Readers can learn more about the main challenges faced by virtual currencies through this article, and explore the future development model of virtual currencies.
Keywords
Miner Consolidation, Energy Consumption, Cryptocurrencies, Encryption Security, Miner Income Volatility
References
1. Killian Steer., (2019). Cryptocurrency Mining: The Challenges It Faces and How Regulations Can Help, 20 N.C. J.L. & Tech. 301. Retrieved from: https://scholarship.law.unc.edu/ncjolt/vol20/iss5/9
2. Lambert, L & Hacket, R., (2021). Bitcoin, Ethereum, Dogecoin: Witness the trillion-dollar crypto carnage—and rebound—in 3 charts. Retrieved from https://fortune.com/2021/05/20/crypto-bitcoin-ethereum-dogecoin-market-crash-trillion-dollar-charts/
3. Marinof, N., (2019). Pi Network seeks to offset the environmental damage done by Bitcoin mining: Yahoo Finance. Retrieved from https://finance.yahoo.com/news/pi-network-seeks-offset-environmental-194813491.html
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the International Conference on Computing Innovation and Applied Physics (CONF-CIAP 2022)
- ISBN (Print)
- 978-1-915371-13-3
- ISBN (Online)
- 978-1-915371-14-0
- Published Date
- 20 February 2023
- Series
- Theoretical and Natural Science
- ISSN (Print)
- 2753-8818
- ISSN (Online)
- 2753-8826
- DOI
- 10.54254/2753-8818/2/20220058
- Copyright
- © 2023 The Author(s)
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited