An analysis of various crypto coins and their suitability for real-time applications

Abstract

The financial software has expanded to include cryptocurrencies, which are seeing rapid adoption and are being positively received by critics. Mining is an essential part of these systems, which use a distributed ledger to store data in a trustworthy manner. The decentralized ledger, known as the blockchain is updated with information on prior transactions when mining is performed. Users are allowed to arrive at a reliable and robust agreement for each transaction. Mining can result in the generation of new wealth in the form of monetary assets, such as currency. Because cryptocurrencies were conceived from the outset to operate as decentralized, peer-to-peer networks, there is no centralized authority that can supervise the monetary transactions that take place using these currencies. Miners are accountable for ensuring that the transactions they are processing are legitimate. For crypto currencies, mining algorithms that are both dependable and strong are a fundamental must. This paper provides a comprehensive summary of crypto coins, specifically Bitcoin, Ethereum, and Litecoin, and an analysis and critique of the previous research on crypto currency trading that has been published. This paper presents a classification system that could be applied to both wellestablished standards and newly developed concepts.