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The Evolution of Improvised Cryptocurrency – UVCoin

by Jasmine Bedi Khurana, Utkarsh Wadhwa, Vivek Tomar
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International Journal of Computer Applications
Foundation of Computer Science (FCS), NY, USA
Volume 156 - Number 5
Year of Publication: 2016
Authors: Jasmine Bedi Khurana, Utkarsh Wadhwa, Vivek Tomar
10.5120/ijca2016912441

Jasmine Bedi Khurana, Utkarsh Wadhwa, Vivek Tomar . The Evolution of Improvised Cryptocurrency – UVCoin. International Journal of Computer Applications. 156, 5 ( Dec 2016), 23-28. DOI=10.5120/ijca2016912441

@article{ 10.5120/ijca2016912441,
author = { Jasmine Bedi Khurana, Utkarsh Wadhwa, Vivek Tomar },
title = { The Evolution of Improvised Cryptocurrency – UVCoin },
journal = { International Journal of Computer Applications },
issue_date = { Dec 2016 },
volume = { 156 },
number = { 5 },
month = { Dec },
year = { 2016 },
issn = { 0975-8887 },
pages = { 23-28 },
numpages = {9},
url = { https://ijcaonline.org/archives/volume156/number5/26706-2016912441/ },
doi = { 10.5120/ijca2016912441 },
publisher = {Foundation of Computer Science (FCS), NY, USA},
address = {New York, USA}
}
%0 Journal Article
%1 2024-02-07T00:01:47.850772+05:30
%A Jasmine Bedi Khurana
%A Utkarsh Wadhwa
%A Vivek Tomar
%T The Evolution of Improvised Cryptocurrency – UVCoin
%J International Journal of Computer Applications
%@ 0975-8887
%V 156
%N 5
%P 23-28
%D 2016
%I Foundation of Computer Science (FCS), NY, USA
Abstract

Cryptocurrencies which evolved with bitcoin has a decentralized structure based on the ledger which is handled via proof of work mechanism, indeed generating a monetary supply. We all agree that decentralization save us from the cruel national political system but has a limitation of computational cost involved and problem related to scalability. The idea is to introduce a new cryptocurrency named UV Coin which is a cryptocurrency framework having control of the central banks but involves distributed set of authorities to prevent double spending. This coin will maintain enough transparency. The proof of the benefits is partial centralization such as elimination of wasteful hashing and involves a scalable system to avoid double spending attack.

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Index Terms

Computer Science
Information Sciences

Keywords

Sybil attack Proof of Work Proof of stake UVCoin Double-Spending Attack Cryptocurrency Cryptographic Algorithm

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