{"id":{"repo_id":"mit","oai_identifier":"oai:dspace.mit.edu:1721.1/107369"},"canonical_url":"https://search.dev.ndltd.org/etd/mit/oai:dspace.mit.edu:1721.1/107369","repository":{"repo_id":"mit","name":"MIT","base_url":"https://dspace.mit.edu/oai/request"},"display":{"title":"Uncovering the secrets of bitcoin's success","abstract":"Bitcoin is a cryptocurrency and a decentralized payment system. The transactions between two parties are approved not by a central institution but by the peers of the network. Bitcoin uses cryptography and software algorithms to control the units of generation and to verify the transactions on the network. However, bitcoin is the not the only cryptocurrency with these capabilities. There are more than 600 cryptocurrencies in the market. Nonetheless, bitcoin is the most successful cryptocurrency to date with the highest market cap, transaction volume, merchant adoption, and venture capital investments. 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