iTrustBD: Study and Analysis of Bitcoin Networks to Identify the Influence of Trust Behavior Dynamics
The concept of cryptocurrency is a significant advancement in digital currencies. “Cryptocurrency” refers to a form of electronic or virtual currency that is secured through the application of encryption. It is a common practice to trade cryptocurrencies on decentralized exchanges where neither governments nor financial institutions can exert any form of authority over them. This being the case that cryptocurrencies are not regulated either by the government or financial institutions presents a potential risk for investors. Although a few nations have authorized cryptocurrency, the vast majority of nations, including Bangladesh, have not recognized it due to concerns over the safety of the cryptocurrency system. In this work, we analyze cryptocurrency networks, “Bitcoin Alpha trust weighted signed network” and “Bitcoin OTC trust weighted signed network”. Following an investigation into the characteristics of the networks, we came to the conclusion that they are robust and reliable, as well as capable of withstanding any kind of attack. Additionally, we forecast the future condition of the trader’s conduct in terms of trustworthiness; as a consequence, we identified more trustworthy behaviors on the behalf of traders. As a result, this work has the potential to make a contribution to the process of legalizing cryptocurrency transactions.