|
| |
|
|
Bitcoins - the use of virtual currency in today's economy
Páral, Jiří ; Taušer, Josef (advisor) ; Jurek, Martin (referee)
The main goal of this diploma thesis is to explore the area of virtual currency Bitcoin and assess the use of this currency in today's economy. Thesis first mentions the cryptocurrency market, the technology and other altcoins. It further analyzes the cryptocurrency Bitcoin in detail, its foundation, history and mining. The text also explores the volatility of this currency in the recent years, the question of regulation by states and technological threats to the network. In the final chapter diploma thesis examines the possibilities for individuals to obtain this currency and the use of Bitcoin by enterprises.
|
|
|
Kryptoměna
Petrová, Lucie ; Čajka, Radek (advisor) ; Bolotov, Ilya (referee)
Bitcoin, the first decentralized cryptocurrency, has been around since 2009. Not long afterward, it was followed by a rise of a variety of other cryptocurrencies. Some have gained momentum, some have disappeared. Nonetheless, based on the development thereafter, their future still remains unclear. The main objective of this bachelor thesis is to investigate the future outlook for cryptocurrencies. Is Bitcoin doomed to fail? And if so, what does the future hold for alternative cryptocurrencies and for cryptocurrency in general? This paper aims to answer these questions in three chapters. The first part introduces the main features of cryptocurrencies and gives an overview of how they work. The second part focuses on the most prominent one, namely Bitcoin, analyzing its strengths with a particular emphasis on its weaknesses. The third part strives to draw conclusions on the future prospects of cryptocurrency, while explaining why Bitcoin will not be the future currency, but cryptocurrency might be.
|
|
|
The Analysis of Security and Anonymity in Cryptocurrency Payments
Maňák, Michal ; Šebesta, Michal (advisor) ; Bruckner, Tomáš (referee)
Bitcoin and other cryptocurrencies are getting into common usage more and more frequently. Unfortunately this spread is connected with attempts to misuse their principles for personal benefit. The goal of this thesis is to explain the main principles of using bitcoin in relation to the internet identity. This connection is represented by two sources in the thesis: the first is a bitcoin blockchain, the second is the sum of various user profiles used in discussion forums and similar websites. The aim is to create and explain the process how to, by using the combination of this two sources, reveal the identity of a human using cryptocurrencies for payment (from a private person point of view). First, methods used for extraction of correct and useful data from the blockchain and internet profiles must be developed to be able to mine data from the joint database, merging into a full user profile containing personal data. Results of this investigation are extended by the rules of preserving anonymity on the internet, containing both technological and behavioural measures avoiding a share of personal data. The end of this thesis explains possible attack vectors that might be used for compromising cryptocurrencies. The methods of searching of the internet identity are a useful tool for facing these attacks.
|
|
|
Bitcoin - Tržní peníze nebo pouze náhrada jednoho špatného prostředku směny za druhý
Philipp, Jan ; Stroukal, Dominik (advisor) ; Slaný, Martin (referee)
Bitcoin as a payment system indisputable offers advantage over the government currencies in transaction time and its costs. On the other hand the moneyness of Bitcoin itself is questioned. This paper analyzes Bitcoin from Austrian perspective and compares the qualities of Bitcoin with deserved qualities of money in order to find out whether Bitcoin could serve as money. The examined properties are portability, storability, divisibility, recognizability, homogeneity and scarcity. Moreover it examines the consistency of Bitcoin emergence as medium of exchange with Mises' regression theorem and identifies the non-monetary value of Bitcoin. The result of theoretical analysis shows that Bitcoin's properties can facilitate the functions of money.
|
|
|
A cryptocurrency as a medium of exchange in the 21st century
Kubricht, Adam ; Pavlík, Zdeněk (advisor) ; Jedlinský, Jakub (referee)
The thesis aims to identify the potential use of a cryptocurrency in the international trade and the level of fulfillment of that potential. First of all, the thesis describes how cryptocurrencies work. In the second part, the potential of a cryptocurrency is investigated. In the third part, the market of the most used cryptocurrency - Bitcoin is analyzed. The thesis finds out to what extent Bitcoin is used nowadays and whether bitcoin as a cryptocurrency fulfills its potential.
|
|
|
A continuity between the changes of the exchange rates of the cryptocurrencies and the dynamics of the created content on the Internet by their users
Timofeeva, Mariya ; Šebesta, Michal (advisor) ; Bruckner, Tomáš (referee)
This thesis analyzes a continuity between the changes of the exchange rates of the cryptocurrencies and the dynamics of the created content on the Internet by their users. The main goals of this thesis are to analyze unstructured data focusing on the development of the topics for different cryptocurrencies and to interconnect the key topics with the changes of the exchange rates of this cryptocurrencies. In order to successfully obtain goals I describe process and methods of the analysis unstructured data, explain the issues of the cryptocurrencies, identify a source of the downloading data and choose some cryptocurrencies for subsequent analysis. The contribution of this thesis is the identification of the development key topics in the chosen source, finding topics, which are the most under discussion about the chosen five cryptocurrencies. Also this thesis detects the existence of the reaction of the users to the changes of exchange rates of the chosen cryptocurrencies and describes it. Particular contribution of this thesis is a practical demonstration of the application the elected technology for analyzing unstructured data. Also additional contribution is the methods using in the analytical part. Structure of this thesis is divided to the three main parts. The first part describes the analysis of unstructured data theoretically and explain the issues of cryptocurrencies. The second part devotes a draft of the solution for creating an analytical part. The third part maps the most discussion cryptocurrencies in the chosen source, identifies the development of the key topics for five chosen cryptocurrencies Bitcoin, Nxt, Dash, Monero and Counterparty and interconnects the key topics this cryptocurrencies with changes their exchange rates in relation to American dollar.
|
|
|
Cryptocurrency Bitcoin and its future development
Leopoldová, Lucie ; Čajka, Radek (advisor) ; Polách, Radomír (referee)
The main objective of this diploma thesis is to find out the potential of digital currencies to replace contemporary fiat currency. Specifically, the thesis is focused on cryptocurrency Bitcoin, which currently has the highest market value. The thesis is divided into three main chapters. The first one focuses on money itself and its function, not only today but also throughout the history. Second chapter explains substance and functioning of Bitcoin, as well as its role in the current monetary system. Likewise the question of regulatory measures and competition of altcoins is being examined. Final part analyses the future of digital currencies and it compares pros and cons of Bitcoin and money we use today. Furthermore, it is discussed whether Bitcoin is the next bubble in the financial market. In the end, main problems which Bitcoin and other cryptocurrencies deal with are mentioned and a possible future development is outlined.
|
|
|
Alternative crypto currency analysis and mining
Ballek, Miroslav ; Bruckner, Tomáš (advisor) ; Šebesta, Michal (referee)
Over the past few years, bitcoin has become a globally successful and much followed project. It is a kind of decentralized digital currency, which functions based on mathematical-cryptographical principles and is created using a computationally intensive process called mining. Thousands of other alternative crypto currencies exist, which have so far stayed unnoticed by the media, even though they outperform bitcoin in many aspects. The central topic of this paper is the extensive ecosystem of alternative crypto currencies and an analysis of their mining process. The goal is to demonstrate, by means of a practical example, how alternative crypto currencies are mined and also to find out, if it's possible to mine crypto currencies profitably with specific type of a graphic card. To successfully reach this goal I had to first analyse the ecosystem of crypto currencies. Subsequently I compared different crypto currencies to one another and eventually successfully implemented the mining operation and evaluated its results. The main contribution of this paper is to answer the question of whether and how alternative crypto currencies can be profitably mined. I believe the particular benefit of this work rests not only in the practical demonstration of how alternative crypto currencies are mined but also in the summary description of the crypto currency ecosystem's composition and the factors that influence the price of these crypto currencies. Structurally, this paper is divided in three main parts. The first part is dedicated to the explanation of the term crypto currency, what it comprises and according to which principles it functions. The second part contains an analysis of the ecosystem as well as a comparison of a fixed sample of alternative crypto currencies. The third part is the practical part, during which I undertook a real mining operation.
|
|
|
Analysis and implementation of application for digital currency Bitcoin
DRDÁK, František
The thesis is focused on the topic of virtual cryptocurrency Bitcoin. The theoretical part is divided into several chapters. First of all, there is a chapter containing basic information about the currency's history, its development to the present, as well as principles of operation of this currency. Because it is a currency based on cryptographic principles next chapter summarizing cryptographic techniques, which is necessary to know for subsequent analysis of this currency. In other parts is elaborated a detailed analysis of the principles of Bitcoin. The main point of this analysis is a system of transactions, decentralized history, then joining the transactions into blocks and in the end creating blockchain. It also explains the principle of P2P networks. The practical part of this work focuses on the analysis and design of payment applications for mobile devices. There used open-source libraries such BitcoinJ. The application is developed in Java programming language with plugin for portable devices, which work under the operating system Android. For the purposes of analysis and design of graphical user interface is used UML diagrams. The specification of the UML diagrams was utilized by freely available graphics software and the result is also included in this work.
|
guest ::
