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THE FUTURE OF CRYPTO CURRENCY: BITCOINS

Introduction

The introduction of Bitcoins has enhanced the leverage systems in the global crypto currency. Vast improvement in the technological sectors has made it possible to create such new ways to promote crypto currency (Donet et al. 2014). There is news based on the promotion of crypto currency such as Bitcoins. Vast volatility, cost reduction, crackdowns in the governments has led to decrease in the huge level of integration in Bitcoin. This process of new money technology helps to increase the level of transaction in among the people. Further association in the long term usage can help to build better success (Plassaras, 2013). The report highlights the technological implement and its related application in the sector of crypto currency. New discoveries in the network systems and coordinated focus can help to increase the rate exchange online. In addition, adequate recommendation is incorporated to identify and insert potential impact on the global market.

Bitcoins system

The mining systems in Bitcoin have gained several growths in the online payment system. The system utilizes the mode of credit or debit card payment through the transfer method in Bitcoin (Walton, 2014). For each payment method there is an exact remittance of amount that Bitcoin charges which is nearly about 5 to 9 percent. It is essential that the process system in Bitcoin allows direct transfer or payment without any obstruction. The company utilizes third party vendors to facilitate the payment. A low amount of payment is given to the third party vendors from the incurred amount. The possibility in making huge profits depends on the global market. This process may disrupt the chain systems in the global market and respectively lower down the fee rate by allowing inexpensive methods in the payment systems.

The level of integration in developing better Bitcoin payment systems may incorporate appropriate transfer application to facilitate the online transaction methods. The identify management in Bitcoin allows better forms of cryptography and chain management that will help to identify any kind irregularities in the network management. The network systems in Bitcoin cryptography helps to identify and verify any kind of data about individuals. These allow better level of security and monitoring management. Wider reach in the network and identification framework can help Bitcoin to develop better level of efficiency in payment.

Bitcoin future and recommendation

There are several factors that help to influence the rate of innovation and adaptability in Bitcoin technology. It is difficult to predict the future of Bitcoin, yet, recent research and adequate implementation in the technology can help to achieve suitable position in the global market. Recent evidence has shown serious effect on the financial ecosystem in Bitcoin (Tropina, 2014). Irregularity in the currency systems, volatility in cost has degraded the quality of promotion in the global market. Loss in proper services and collapse in exchange systems have also continued to increase the irregularities. Some of the new process systems that have been introduced in the Bitcoin include proper service allocation through traditional payment methods such as credit card. New technological wallet systems have been introduced in form of payment card. Possible implementation of network systems enhanced digital platform and improved micro payments can help Bitcoin to establish better performance. Improved protocol and exchange rates in transaction can effectively increase mainstream online payments. Identification of block management can also ease the level of integration concerning cryptographic technology.


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