Open-Source Cryptocurrency Forensic Framework
Published:
Recommended citation: Anuhya G, Ramaguru R (2022). "Open-Source Cryptocurrency Forensic Framework." Digital 4N6. vol 4 issue 1. pp 20-26. Digital 4N6. https://doi.org/10.46293/4n6/2022.02.01.03
In 2008, an unnamed person or group with the pseudonym ‘Satoshi Nakamoto’ introduced Bitcoin through a Whitepaper “A Peer-to-Peer Electronic Cash System”. Since then, both the number of users and the value of Bitcoin have grown. Bitcoin also introduced the concept of Blockchain Technology, which has now broadened to cover industries such as supply chain management, crowdfunding, open governance, education credentialing, health care, digital rights management, and Automotive. Double Spending, lack of an adequate number of open and distributed ledgers, pseudo-anonymity, and trusted third-party are just a few of the challenges that Blockchain has addressed. Some of the technology’s advantages are causing problems for lawmakers and protectors, however, they give lawbreakers an added advantage. After the widespread popularity of Bitcoin, many alternative cryptocurrencies, known as altcoins were launched, to name a few Litecoin, Dogecoin, Peercoin, Namecoin, etc. The global market capitalization of cryptocurrency stands at $2.18T[3] (at the time of writing).