$BTC
Bitcoin has become a fixture in today’s modern society, a source of innovation and mystery, and has begun to change the way we think about currency. In this chapter, we are going to explore the context, underlying framework and protocol, and artifacts related to Bitcoin. This chapter will focus exclusively on Bitcoin. However, because of Bitcoin’s success, many modern cryptocurrencies are simply variations on the Bitcoin framework. These Bitcoin derivatives are referred to as Altcoins. By understanding the cryptocurrency framework, through analysis of Bitcoin, examiners will be capable of understanding artifacts in a wide range of cryptocurrencies.
Often synonymous with providing anonymity for the acquisition of nefarious goods online, cryptocurrencies, such as Bitcoin, have been brought to the forefront after gaining traction due to recent media attention. Increased exposure has publicized the utility of cryptocurrencies and spurred the production of new currencies at a rate previously unseen. As more consumers depend on cryptocurrencies to purchase both legal and illegal goods, understanding cryptocurrencies and the channels through which they travel is vital.
As of August 2015, there are 678 cryptocurrencies on the market that come in varying types. A list of these cryptocurrencies and their prices can be found at coinmarketcap.com. Cryptocurrencies are often perceived as an unknown quantity; however, for the most part they are extremely well documented for those who want to read the technical details. For most of these cryptocurrencies a white paper is available that explains the underlying framework of the currency.
