Potential of Blockchain Technology in Digital Currency: A Review

The term digital is now becoming the prefix for everything done traditionally. Now currency has also become a part of it. And we use the term digital currency or more precisely cryptocurrency for it. Blockchain the core concept or the power behind the success of Bitcoin is one of the most trending and common topics for digital currency these days. The blockchain serves as a public ledger and transactions stored using this methodology are almost impossible to tamper. Blockchain offers a lot of features like decentralization, auditable recordkeeping, persistent storage, efficiency, and security. Blockchain and its use are not only limited to the cryptocurrency but in various other fields as well. There are advantages of blockchain in digital currency but it does not mean that it's all perfect, it has some disadvantages and limitations as well. In this paper, we have first explained what blockchain technology is and what is a digital currency. Then we have presented a list of work done in the field of blockchain and digital currency previously. Finally, we have also discussed the future research direction in this field.