BLOCKCHAIN TECHNOLOGY ROLE IN CRYPTOCURRENCIES

Abstract

Blockchain technology is designed and built totransfer value, notably bitcoins. Within the framework or range of Bitcoin, digital money, blockchain technology is used in various ways. The study explains cryptocurrencies and blockchain technology concepts, Blockchain's History, Applications, Blockchain's Tiers, Version 1.0 of the Blockchain, Benefits of Blockchain, Blockchain's Disadvantages, Regulation, Challenges, Inclusion in the Financial System, Money transfers between countries, Increasing the value of cryptocurrencies, U.S. Postal Service, 2016, Improving the Security of The Energy Grid, Improving Energy Transfer. Secondary data was selected to complete the conceptual paper. The paper concludes that blockchain regulations need to be updated occasionally, and the technology must support the interests of the investors through blockchain technology. There is a requirement for financial awareness among the different sections of the people; the security of digital bitcoins is one of the critical requirements of blockchain technology.