Robust framework diagnostics of blockchain for bitcoin transaction system: a technical analysis from Islamic Financial technology (i-FinTech) perspective

• Main Authors: Abu Bakar, Nashirah, Rosbi, Sofian
• Format: Article
• Language: English
• Published: 2018
• Subjects: HG Finance
• Online Access: http://repo.uum.edu.my/26310/1/IJBM%202%203%202018%2022%2029.pdf; http://repo.uum.edu.my/26310/; http://doi.org/10.26666/rmp.ijbm.2018.3.4
• Institution: Universiti Utara Malaysia

In year 2017, Bitcoin attracted most investors because high return of investment. The system for Bitcoin transaction is known as blockchain. The blockchain is blocks of transaction history that shared publicly using secured cryptography. Each block contains the previous transaction information, timestamp and new transaction data in secured cryptographic hash programming language. This paper evaluates the Bitcoin framework whether the security of the system is satisfied with a definition of reliable computer system. In the same time, this paper discovers the reliability of the programming process that involved in blockchain system. The finding of this paper will help investors to understand the blockchain system properly in developing better understanding of cryptocurrency framework. The better understanding of the blockchain will help investors making proper decision in their investment portfolio to gain better profit and preventing loss.