Brief: Reportlinker Conducts Research on Bitcoin

Reportlinker, a market research solution company, announced on Wednesday its new research on cryptocurrency, Bitcoin.

The company shared:

Bitpieces Bitcoin“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. Envisioned by Satoshi Nakamoto, Bitcoin’s consensus allows transaction between mutually unknown actors without the need for a central authority such as a bank, remittance, or market platform provider, such as Airbnb or Uber. Bitcoin is the first killer application for blockchain technology in the same way email was the first ‘killer application’ for the Internet. This Market Insight provides an overview of Bitcoin, its potential use cases, and its current challenges.”

Reportlinker’s research methodology of Bitcoin include:

Identification of Bitcoin Application Stack

  • Bitcoin 2The Frost Sullivan 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.

For the full report, click here.

 

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Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.