Cryptocurrency, currency secured by software encryption, has
become a global phenomenon nowadays. It relies on an internet-based
medium of exchange using cryptographical functions to conduct
financial transactions and is implemented via blockchain technology
to gain decentralization, transparency, and immutability. Among
blockchain's numerous applications, cryptocurrency is
considered as the first and most popular use of this technology.
The first cryptocurrency, Bitcoin, was invented by a person under
the pseudonym Satoshi Nakamoto in late 2008. Since then, more and
more cryptocurrencies have been established, such as Ethereum,
LiteCoin, ZCash, Ripple.
According to a study by Franklin & Gaudry,
cryptocurrency-related FinTech applications account for most
blockchain patent filings in the U.S.. In specific, they consisted
of more than half of the total blockchain patent applications filed
in the U.S. from 2008 to 2018. The study also reveals that
Accenture, IBM, Id m
