Blockchain-Based Decentralization: A Review of Bitcoin’s Currency Model

Abstract— The latest digital trends in financial era of the world are the origination and enactment of cryptocurrency at global level, and even though neither accounting professions nor legal provisions have acknowledged it. This detailed article explores the study on Bitcoin a decentralized peer-to-peer way of electronic cash online transaction without involving any third- party financial intermediary, this paper suggests that by analyzing the past and present of Bitcoin, it can estimate Bitcoin’s further potential. This paper throws light on understanding Bitcoin, its emergence, network of Bitcoin and how does it function. It defines the features and anonymity of bitcoin and its widespread uses. It also describes the benefits and risks related to bitcoin and the impact it is generating from the economic and financial point of view. Keywords—Bitcoin, Decentralized, Blockchain technology, Cryptocurrency, Peer-to-Peer(P2P).