Abstract:

Bitcoin's attack in finance has caused a new wind to blow in the stock market and with the emergence of many new crypto currencies, the crypto currency market has become a new financial area. Although Blockchain technology is the technological infrastructure of Bitcoin, awareness is not as high as Bitcoin. Despite it was found in 1992, its first use was in the shadow of Bitcoin, influenced by the fact that it was with Bitcoin in 2008. However, due to the features that it provides; Without Blockchain technology, the Bitcoin system would not work. As the dazzling offer of Bitcoin; through the decentralized structure, buyers and sellers can meet directly on a platform and make their purchases securely, without involvement of any third party. Verification in the system can only be done by approving by more than 50% of the participants. Thus, besides of no need for a central authority, it became almost impossible for any cyber attack to be successful. The continued success of Blockchain technology is vital for Bitcoin and other cryptographic currencies survival. Beside of all these advantages, there are some issues that need to be addressed for Blockchain technology. These can be listed as throughput, latency in processing, size and bandwidth, some security vulnerabilities, resource waste for adding a new block to chains, usability, and privacy. In this article, we will discuss these issues that need to be addressed for Blockchain technology.

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