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How Information Technology Is Changing E-business on the Way to the Digital Economy
Published in Anna Brzozowska, Dagmara Bubel, Larysa Nekrasenko, Organisation Management in the Digital Economy, 2022
Anna Brzozowska, Dagmara Bubel, Larysa Nekrasenko
There are two options for storing BTC:Offline wallet – installed and created on the computer and of course, it’s encrypted to avoid hacking. However, there are disadvantages here. If you forget the password for entering the purse or the hard drive will fly on the computer – you will forever lose access to your funds.Online wallet – all data is stored on the server. If the server is broken, then all the information will be broken. Specificity is similar to the usual KIWI-wallets, WM or Internet banking.LTC, Litecoin – a successful fork, which is the main backup cryptocurrency. It has a different coin generation algorithm than BTC, which makes it resistant to generation. This makes the currency more popular and evenly distributed among the population.Litecoin, originally based on the BTC protocol, intended to improve upon its alleged inefficiencies. LTC Litecoin is a successful fork and the main reserve cryptocurrency. It has a good chance to become the currency number one. Litecoin is different from the BTC algorithm for coin generation. This makes it resistant to generation on ASIC, which makes the currency more popular and more evenly distributed among the population. Litecoin is more convenient than BTC for payment transactions because it requires less confirmation from the network (2.5 minutes against 10 minutes in BTC). 31% of all coins were mined by the beginning of 2014. Cryptocurrency with a large market share carries original ideas but do not have universal recognition.
Blockchain Tokens and Cryptocurrencies
Published in Shaun Aghili, The Auditor's Guide to Blockchain Technology, 2023
Lavanya Vaddi, Jaskaran Singh Chana, Gurjot Singh Kocher
Litecoin was developed to resolve some of the drawbacks of Bitcoin. In October 2011, Charlie Lee founded Litecoin. Litecoin was used to reduce the computing power required for coin mining. Litecoin uses the Scrypt algorithm as its consensus mechanism. Litecoin is faster in the creation of blocks; and its reward is scheduled to be halved once it reaches 840 million Litecoins in approximately 4 years. The transaction fees also are much lower when compared to Bitcoin [4].
An Empirical Study on Herd Behavior in Cryptocurrency Trading
Published in Journal of Computer Information Systems, 2023
The results from the cap-weighted method show that whether there is an upturn or downturn, there is strong herd behavior present in the 8-cryptocurrency sample set and the first upward period of the 5-cryptocurrency sample set. Under the cap-weighted method, the research results show that the herd behavior is significant and that it is only present during the second downward period in the 8-cryptocurrency sample set. The 8-cryptocurrency sample set consists of bitcoin, Ethereum, Ripple, Litecoin, Stellar, Monero, Dash and Ethereum Classic. Results also show the weak herd behavior present in the 5-cryptocurrency sample set, which includes bitcoin, Ethereum, Ripple, Dogecoin and Litecoin. Only Dogecoin was listed in 2013, and the rest of the cryptocurrencies were listed after 2014, when the price of the cryptocurrency did not exceed $100.
Blockchain technology in the future of business cyber security and accounting
Published in Journal of Management Analytics, 2020
Sebahattin Demirkan, Irem Demirkan, Andrew McKee
The development of Blockchain can be classified under the three streams of Blockchain 1.0, 2.0, and 3.0 (Lu, 2018a, 2018b; Zhang & Jacobsen, 2018). Blockchain 1.0, is the first stream, which is where most people would identify as the most popular. It is made up of mostly cryptocurrencies, including Bitcoin in the capital markets, examples are Bitcoin, Litecoin, Ethereum, etc. Blockchain 2.0, includes the distribution ledger agreements and the other base technologies, such as smart contracts and other protocols. Blockchain 3.0 can be considered as the “future of the blockchain”, meaning what else it may be able to do for us as a society. The use of this technology will impact human life in a multitude of different ways. Blockchain 3.0 is beyond 1.0 and 2.0 and it includes applications such as the domain name, digital identity, eGovernment, smart cities, and online electronic voting among others (Dogo, Nwulu, Olaniyi, Aigbavboa, & Nkonyana, 2018). Identifying Blockchain 1.0 through 3.0 and beyond is significant in understanding what kind of cybersecurity issues these technologies will face with.
Data-driven review of blockchain applications in supply chain management: key research themes and future directions
Published in International Journal of Production Research, 2023
Truong Van Nguyen, Hiep Cong Pham, Minh Nhat Nguyen, Li Zhou, Mohammadreza Akbari
There are three main types of BC, namely public, private and consortium BC (Niranjanamurthy, Nithya, and Jagannatha 2019). Public BC offers permissionless and complete decentralisation where the transactions can be checked and verified by every member. Currently, mining and trading cryptocurrencies such as Bitcoin, LiteCoin, and Ethereum are the main uses of public BC. Because of its permissionless nature, organisations might face network administration or scaling problems such as restricting accesses, network slowdown and longer validation time when more nodes access the system (Casino, Dasaklis, and Patsakis 2019).