Authors - Doaa Abdelrahman, Heba Aslan, Mahmoud M. Nasreldin, Ghada Elkabbany, Mohamed Rasslan Abstract - The Bitcoin economy has grown significantly and rapidly, reaching an estimated market capitalization of around $1.87 trillion. As a type of cryptocurrency—essentially digital money—Bitcoin enables direct transactions between users without relying on a central authority or intermediary. These transactions are validated by network participants using cryptographic techniques and are permanently stored in a decentralized public ledger known as the blockchain. New Bitcoins are introduced into circulation through a process that is called mining, and they can be traded for conventional currencies, goods, or services. The dramatic increase in Bitcoin’s value has drawn the attention of both cybercriminals aiming to exploit system flaws for profit and researchers working to identify these vulnerabilities, devise protective measures, and anticipate future trends. It outlines the Bitcoin protocol by describing its main components, their functions, and how they interact. Moreover, it explores the foundational cryptographic concepts and existing weaknesses within the Bitcoin infrastructure and concludes by assessing the strength and effectiveness of current security approaches.
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