SYSTEMATIC LITERATURE REVIEW ILLUSTRATION THE SIGNIFICANCE OF CRYPTOCURRENCY DASHBOARD - JETIR.ORG
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© 2022 JETIR April 2022, Volume 9, Issue 4 www.jetir.org (ISSN-2349-5162)
Systematic Literature Review Illustration the
significance of CryptoCurrency DashBoard
Palak Gupta Prakhar Agarwal Harsh Chaudhary
CSE CSE CSE
JSSATEN JSSATEN JSSATEN
Kartiki Sagar
CSE Urvashi Rahul Saxena
JSSATEN CSE
JSSATEN
Abstract—This overview is presented utilising research
papers to analyse the extent to which crypto-currencies Keywords—Diversification,Cryptocurrencies,Mining,
give diversification benefits to an investor and how, Transaction, Blockchain
with the right understanding, anyone may profit from
them. We create optimal portfolios with and without
crypto-currencies using a stochastic spanning I. INTRODUCTION (HEADING 1)
methodology, comparing their performance in- and
out-of-sample. Empirical evidence suggests that the This A cryptocurrency is a digital or virtual currency that is
extended investment universe of crypto-currencies protected by encryption, making counterfeiting and double-
spending practically impossible. Many cryptocurrencies are built
outperforms the traditional investing universe of on blockchain technology, which is a distributed ledger enforced
equities, bonds, and cash in terms of yield. by a distributed network of computers. Cryptocurrencies are
Cryptocurrencies have established themselves as distinguished by the fact that they are not issued by any central
critical financial software platforms. They rely on a authority, making them potentially impervious to government
secure distributed ledger data structure, with mining as intervention or manipulation.
a key component. Mining adds past transaction records
Cryptocurrencies have emerged as one of the most significant
to the Blockchain distributed ledger, helping users to financial developments in recent years. They've attracted a
reach safe, solid consensus for each transaction. growing number of detractors and fans in equal proportion. We
Mining also creates wealth in the form of new currency used a stochastic dominance approach to enhance our research of
units. Because they were created as peer-to-peer crypto-currencies as assets. We find that the expanded investment
universe with cryptocurrencies empirically outperforms the
systems, cryptocurrencies do not have a central
traditional one with stocks, bonds, and cash in an out-of-sample
authority to mediate transactions. To validate analysis using a non-parametric stochastic dominance test and
transactions, they rely on miners. Cryptocurrencies parametric performance measures, yielding some diversification
require mining algorithms that are both powerful and benefits and providing better investment opportunities. The
secure. We examine, contrast, and analyse the current current study does a more in-depth analysis by taking into account
the most popular cryptocurrencies and employing two alternative
mining strategies used by major Cryptocurrencies in
long-memory methodologies (R/S analysis and fractional
this study. Each mining strategy is assessed for its integration). It also investigates the evolution of persistence
strengths, shortcomings, and potential dangers. across time (by looking at changes in the Hurst exponent). Any
Overall, a view of how Cryptocurrencies are mined, predictable patterns might, of course, be used as the basis for
where they have comparable performance and bitcoin trading techniques aiming at reaping abnormal profits.
Cryptocurrencies have emerged as one of the most significant
certainty, and where they have unique dangers and
financial developments in recent years. They've attracted a
strengths is presented. growing number of detractors and fans in equal proportion. We
used a stochastic dominance approach to enhance our research of
JETIR2204187 Journal of Emerging Technologies and Innovative Research (JETIR) www.jetir.org b708© 2022 JETIR April 2022, Volume 9, Issue 4 www.jetir.org (ISSN-2349-5162)
crypto-currencies as assets. We find that the expanded investment represents a specific user, the login block indicates the web app's
universe with cryptocurrencies empirically outperforms the authentication level, and the registration block indicates that the
traditional one with stocks, bonds, and cash in an out-of-sample user data has been successfully added to the app database, which
analysis using a non-parametric stochastic dominance test and data would be useful for successful user authentication after
parametric performance measures, yielding some diversification which each user would be allowed to access all of the web app's
benefits and providing better investment opportunities. The features. They can add currency in various forms depending on
current study does a more in-depth examination by taking into the currency they use and the registration block indicates that the
account the most popular cryptocurrencies and employing two user data has been successfully added into the app database. They
distinct long-memory approaches. (Fractional integration and R/S might choose a crypto currency based on the market and current
analysis) It also investigates the evolution of persistence across price.
time (by looking at changes in the Hurst exponent). Any
predictable patterns might, of course, be used as the basis for This paper is divided into the following sections: the introduction
bitcoin trading techniques aiming at reaping abnormal profits. has already been discussed in section 1, sec2 illustrates the related
work, which includes SWOT analysis of all review papers, sec3
shows the work done and various research questions from various
papers with the solutions we are implementing in our web app.
A. What is a Cryptocurrency Trading System?
A service that allows users to exchange crypto currencies and
digital assets for fiat money or other digital assets. Any system
that trades crypto currencies for other assets is referred to as a
crypto currency exchange. The crypto currency exchange's II. RELATED WORK
primary function, similar to that of a traditional financial
exchange, is to facilitate the purchase and sale of these and other Every day, it appears that the bitcoin market is gaining in
digital assets. A digital currency exchange is another name for a popularity. With the meteoric rise of cryptocurrencies such as
crypto currency exchange (DCE). Bitcoin and Ethereum, there appears to be an influx of people into
the market who can afford to create accounts. Trading account
creation for new consumers is frequently blocked due to the high
demand for admission into the market.
B. Why Is Choosing a Crytocurrency Echange so Imprtant?
The market's average daily trading volume is usually measured in
This involves both purchasing and selling cryptocurrencies with trillions of dollars. The total market capitalization of the entire
fiat (fiat/crypto pairing) and buying and selling cryptocurrencies market is more than half a trillion dollars, which is an incredible
with other cryptos (crypto/crypto pairing). They can be thought achievement given that the market is only a decade old. This
of as a virtual marketplace for the entire bitcoin ecosystem. These makes deciding on the best cryptocurrency trading platform
exchanges are significant because they allow you to convert FIAT challenging – we believe that while there is no single "best"
(traditional digital money) into cryptocurrency (fast, often exchange, there are exchanges that are "best" for each individual
decentralised digital currency on next-gen blockchains). It would user based on their needs and interests. While loop is still a
be difficult to buy cryptocurrencies if these types of exchanges or reliable peer-to-peer transaction network for trading digital assets
businesses were targeted. The only way to get some is to mine or with fiat currency.
use sites like Koinex, Binance, Zebpay, and Bits, which provide
the greatest cryptocurrency exchanges where you can trust and
On the basis of the limitations of around 20 study papers, we are
exchange multiple transactions. A cryptocurrency trading system
building our web app better than others. These limits are based on
built on the Laravel framework for an exchange platform is
user feedback, which is provided in the form of reviews on each
required, with cryptocurrency prices updated daily and users able
app's customer support page. As a result, in order to produce a
to purchase and sell. via the dashboard You can't pick up a
newspaper, turn on the TV, overhear a discussion, or talk to a better app based on these concepts, we are using these user
friend these days without hearing about the Internet. It has reviews as a parameter to monitor and improve the app's
completely transformed the way our world operates and the way performance
our country invests. In general, it has improved our lives. The
allure of traders may be summed up in three words: point, click,
and trade. You can purchase and trade cryptocurrencies with only
a few keystrokes if you have an Internet connection and an
account with an online broker.
The flow of our application is depicted in this block diagram. The
start block indicates the start of the webapp, the client block
JETIR2204187 Journal of Emerging Technologies and Innovative Research (JETIR) www.jetir.org b709© 2022 JETIR April 2022, Volume 9, Issue 4 www.jetir.org (ISSN-2349-5162)
Sr. Reference Methodolog Results Limitation the number of daily bitcoin interactions is up year on year,
No s y indicating growth. Furthermore, there is a chance that crypto
. would be listed on the Nasdaq, which would give block chain and
1. [1] Stochastic Diversificati Excessive its applications as a financial alternative even more legitimacy.
Spanning on Benefits Volatility However, some believe that all crypto requires is a confirmed
2. [2] nil Legality of Lack of exchange traded fund (ETF). An ETF would certainly make it
Cryptocurre- Availabilit easier for consumers to invest in Bitcoin, but there must still be a
ncy y demand for crypto, which some argue isn't produced
3. [3] nil Wallet Difficult to automatically. Some questions and their responses are addressed
security implement in this workframe.
4. [4] Lithopia Security Future
Sandbox Enhanceme- work
nt required A. RESEARCH QUESTIONS
5. [5] Block Chain Protected Practical
Cost Method is from [1] the first question has been derived which states that
Viability required ‘How to deal with the volatile nature of cryptocurrency?’.from [2]
6. [6] Block chain Proof of Complex the second question has been derived which states that ‘What
Api based Ownership Structure common mistakes do people make when investing in
framework cryptocurrency?’.from [3] the third question has been derived
7. [7] Machine Enhanced Transactio which states that ‘ What is the Impact of Cryptocurrency in
Learning User n-s are India?’.from [4] the fourth question has been derived which states
Experience complex that ‘How to do Certified transactions with Cryptocurrency?’.
8. [8] Big Data Brings nil From [5] the fifth question is derived which states that ‘how to do
Robustness peer-to-peer transactions between users?'.from [6] the sixth
9. [9] Mean- Cointegrated Nil question has been derived which states that ‘How to perform real
Reversion Portfolios time data processing and analysis?’. From [7] the seventh
Trading question has been derived which states that ‘How the user
10. [10] Time Series QR Code Security experience evaluation is done on the cryptocurrency website?’.
Classificatio Spanning Lacks From [8] the eight questions have been derived which deal with
n ‘How to help develop a simulated system of cryptocurrency
trading and digital payments, that's compatible with Android and
iOS?’. From [9] the ninth question has been derived which states
This section focuses on a detailed analysis on the previous work that ‘How to manage and understand the price dependencies
done. We have compared the out-of-sample performance of the between different cryptocurrencies?’. From [10] the tenth
two optimal portfolios formed by the respective two asset question has been derived which states that ‘How to manage the
universes by using both non-parametric and parametric tests. In security of cryptocurrency?’.
order to investigate the reason for the empirical outperformance
of the crypto-currency assets over the traditional ones they have
also made analysis on Market Segmentation. In market
B. RESEARCH ANSWERS
segmentation they test whether the crypto-currency market is
integrated/ segmented with the equity and bond market. Using
four Research papers defined below we aim to answer some of For [1] the answer observed can be illustrated as On the market,
there are many different kinds of cryptocurrencies, or blockchain-
the research questions for each paper.
based tokens. From traditional cryptocurrencies such as Bitcoin
to cryptocurrencies with smart-contract capability that serve as
platform tokens, such as Ethereum, to tokens used inside those
platforms that allow users to access specific services provided on
III. PROPOSED WORK sub-platforms (so-called dApps). Bitcoin has been the most
mature and well-known cryptocurrency in the world since its
This project is about a Crypto currency Exchange Platform that debut in 2008 by Satoshi Nakamoto, a pseudonymous figure.
allows users to effortlessly purchase and sell crypto assets over Regardless of its initial function, cryptocurrencies have sparked a
the internet. Administrators have complete control over allowing lot of attention as a very promising speculative investment tool,
users to sell and purchase items online through virtual rather than an instrument used for decentralised peer-to-peer
payments. This is mostly because to the extraordinarily high
transactions. As a result, a web-based platform has been created
volatility of their price.
to enable for an unrealistic feature that the user satisfies according
on user needs.A variety of bitcoin trading platforms are available
Kristoufek has published one of the first big research on
on the market. Trading websites created in Ruby, Golang, Python,
cryptocurrency with useful results (2013). The findings show that
Pearl, and Java include Koinex loop, bitbns, coindelta flux, and
when the price of Bitcoin rises, so does public interest in it,
purse. The goal of Krypto Trading is to create a web-based
causing the price to rise even higher. When the price of Bitcoin
system. This technology allows users to sell online and do a
falls, the increased interest in the currency causes the price to fall
variety of tasks. Blockchain is the technology that underpins the
even further. These data suggest that the right conditions exist for
mining and price of bitcoins, a mechanism in which bitcoin users
a bubble to form.
perform encrypted and validated payments and transactions on a
distributed database. For pricing and buy/sell, we use the
Hayes (2016) presents one of the more insightful research,
Coinbase and Coinmarket APIs. Some expect that institutional
examining cross-sectional data on 66 cryptocurrencies using a
money will enter the crypto market during the next several years,
regression model calculated using the OLS. According to his
causing a significant shift in the market. Despite some claiming
results, three primary factors influence the price of
the diminishing nature of investors wanting to become involved,
cryptocurrencies: the amount of competition among miners
JETIR2204187 Journal of Emerging Technologies and Innovative Research (JETIR) www.jetir.org b710© 2022 JETIR April 2022, Volume 9, Issue 4 www.jetir.org (ISSN-2349-5162)
(producers), the pace of unit production, and the difficulty of
algorithms used to "mine" the coin.
Overtrading: Since the cryptocurrency market is open 24 hours a
Furthermore, because cryptocurrency investors prefer to keep day, investors and traders could place trades at any time of the
Bitcoin alongside other cryptocurrencies, changes in demand for day. Furthermore, trading for profit from every market movement
Bitcoin (changes in the percentage of Bitcoin in their portfolio) frequently leads to overanalysis and the execution of incorrect
might result from shocks in one cryptocurrency (H2). To expand deals, resulting in a bigger loss. Furthermore, more trades means
on this idea, a sudden drop in Bitcoin's price may have an impact higher transaction costs. Therefore, avoid making many trades
on demand for other cryptocurrencies (H3). It's easy to envision during the day as it is time-consuming and difficult to maintain
that as Bitcoin's price rises, the market will become more consistency.
favourable, encouraging investors to buy other cryptocurrencies
as well. It's also important looking into whether there are any Emotional trading: It refers to when a trader or investor allows
interconnections between different cryptocurrencies (H4). This personal emotions to influence their trading decisions. It can be
allows us to determine if Bitcoin is the most important beneficial to some extent, but it can also lead to worry, anxiety,
cryptocurrency in general, or whether there are linkages between overconfidence, and greed, all of which are major contributors to
other cryptocurrencies that are not reliant on Bitcoin. It also poor trading decisions and losses.
allows you to check if the results of your Bitcoin study can be
applied to other cryptocurrencies As a result, you must learn to control your emotions when trading
and adhere to a rule-based trading strategy.
Solution: According to the aforementioned argument, the Not keeping up with what's going on in the bitcoin world: The
market's volatility is caused by the investors themselves as well cryptocurrency market is relatively new and volatile when
as other causes. However, with competent portfolio management compared to other traditional marketplaces. A tiny occurrence can
and long-term investing, big profits are easily achievable. frequently have a significant impact on the price of
cryptocurrency.
Thus staying up to date on cryptocurrency market changes will
For[2] the answer observed as Trading in the cryptocurrency help you predict price movements and provide a better long-term
market is extremely different from investing in the stock market return prospect.
and follows entirely different rules. People with little or no
experience in the market are also prone to making blunders when Solution : Only invest in currencies you believe in, diversify,
it comes to investing in cryptocurrency. never invest more than you can afford to lose, keep educated and
learn as much as you can, including from your errors, and avoid
There are five common mistakes that anyone investing in succumbing to FOMO.
cryptocurrency should avoid and they are as follows:
1.Believing in the wrong exchange platform: Choosing the right
exchange platform is the first step toward a profitable bitcoin For[3] the answer observed can be illustrated as Cryptocurrency
investment journey. is a digital coin money of a country which is established
electronically in which methods are accepted for encoding and are
2.Make your cryptocurrency exchange selection based on the recycled to manage the whole of created money and it is also
following criteria: beneficial to check the transaction of cash which are performing
its function freely and without any restrictions of a central bank.
· Simple platform interface One of the most ordinary instances of cryptocurrency is Bitcoin
which is gaining popularity in India every now and then even with
· Wide selection of crypto coins restrictions upon it to use in India. The main difficulty to use these
cryptocurrencies is its safety controversy. These digital coins are
· Deep-liquidity not as protected as the people think they are. The second difficulty
faced by many people is the variation problem of the currency is
· Low trading fees not known to anybody as it is uncertain. Anything which varies
so much is the most ineffective thing to use.
· Allow easy withdrawal to the bank account
There are many things which India needs to learn from this digital
· Security era. some are for their benefit but some of them are to create
tension and to worry about. Even though we all know that India
3.In addition to the aforementioned criteria, you should think is moving fast towards the era of the Digital age and that day is
about your trading needs. not far away, India will also be considered as one of the most
developed nations in the world. These virtual digital coins will be
4.Investing in a single coin without diversifying your portfolio: more popular in the coming future. However, there is no
The cryptosphere is a highly volatile and unpredictable market, confirmed institution to determine the number of bitcoins and to
and investing in a single coin increases the risk of losing money decide about the number for the production, keeping the
and can lead to bad performance. document about how many are there and to interrogate in case of
any issue. It can be considered as an association of connections.
5.Diversifying a portfolio can protect you not only from large They are controlled by the non centralized network. Their actions
losses during a bad market, but it will also reduce the other are guarded by their owners and the highly strict codes are
dangers of investing in a single coin. You are not reliant on the developed to safeguard their boundaries in which they work
performance of a single coin in the market if you diversify. accordingly.
JETIR2204187 Journal of Emerging Technologies and Innovative Research (JETIR) www.jetir.org b711© 2022 JETIR April 2022, Volume 9, Issue 4 www.jetir.org (ISSN-2349-5162)
IV. CONCLUSION Contact Support : As a last resort, users will be allowed to
In order to create a cryptocurrency dashboard that tackles all the contact support to help resolve their issues. They can easily share
limitations defined in the above research papers, we have elected their opinions and experiences with the support. If the issue seems
some strategies for dealing with it: genuine to the developer possible changes will be performed
REFERENCES
Future Work:
[1]Soa Anyfantaki, Stelios Arvanitis, Nikolas Topaloglou.
“Diversication, Integration and Cryptocurrency Market”, 2018.
● Bar Plots : to overcome the volatile nature of the
cryptocurrency we introduce bar plots . It helps us in [2] Dr. Kuldeep Chand, Sunidhi Kashyap. “Impact of
Cryptocurrency in India” 2017.
the analysis of the cryptocurrency despite its volatile
nature. [3] Christiane Attig, Daniel Wessel and Thomas Franke.
It helps us in predicting the future of the currency. “Assessing Personality Differences in Human-Technology
Interaction: An Overview of Key Self-report Scales to Predict
● Market Cap Analysis : Due to recent pump and dump Successful Interaction” 19–29, 2017.
of the currency its important to analyse the market cap
of the particular cryptocurrency. While investing, most [4] Aaron W Baur, Julian Bühler, Markus Bick, and Charlotte S
people invest without proper knowledge about the type Bonorden. “Cryptocurrencies as a disruption? Empirical findings
of crypto they are trying to buy. There are cryptos on user adoption and future potential of bitcoin and co. In
Conference on e-Business, e-Services and e-Society” 63–80,
Starting from typical cryptocurrencies like Bitcoin, to
2015.
cryptocurrencies based on smart-contract functionality
and serving as platform-tokens like Ethereum, and [5] Shashidhar M.R. “Blockchain based Peer to Peer Money
tokens used within those platforms enabling to use Transfer using Cryptocurrency Digital Wallet”,2020
particular services available on sub-platforms (so-called
dApps). Each crypto has its particular market type and [6] Nebojsa Horvat, Vladimir Ivkovi ˇ c, Nikola Todorovi ´ c,
different market cap according to the purpose they Vladimir Ivan ´ cevi ˇ c, Du ´ san Gaji ˇ c, Ivan Lukovi ´ c, “Big
Data Architecture for Cryptocurrency Real-time Data
follow. People need to know the importance of market
Processing”,2020
cap and how it affects the price with time. We aim to
provide a proper section containing all the user desired [7] Bagus Anugrah Ramadhan; Billy Muhamad Iqbal, “User
cryptos and their present price with the respective Experience Evaluation on the Cryptocurrency Website by Trust
change in their market volume. This allows users to Aspect”, 2018
know about the market and its significance.
[8] Rui Carreira, António Pinto, “A Framework for On-
● FAQ Section : In order to engage new users to the new Demand Reporting of Cryptocurrency Ownership and
Provenance”,2020
app we aim to make a dedicated Q&A section with the
frequently asked questions. For those who are new into [9] Tim Leung, Ph.D. “Constructing Cointegrated
the crypto space there will be videos and resources that Cryptocurrency Portfolios”,2020
will be enough for gaining all the necessary knowledge
about what are the popular cryptos and [10] Abdul Gaffar Khan. “Security of Cryptocurrency Using
How the app works. Hardware Wallet and QR code”,23 January 2020
● Wallet Management : During the buying process, users
face difficulty to identify their main account as their
wallet. One user could make the connection to set up IEEE conference templates contain guidance text for
composing and formatting conference papers. Please
different accounts for different cryptocurrencies. In
ensure that all template text is removed from your
order to resolve this issue, we aim to integrate proper conference paper prior to submission to the conference.
payment gateway for better funds management and Failure to remove template text from your paper may
enable easier and faster transactions. result in your paper not being published.
We suggest that you use a text box to insert a graphic
(which is ideally a 300 dpi TIFF or EPS file, with all fonts
embedded) because, in an MSW document, this method is
somewhat more stable than directly inserting a picture.
To have non-visible rules on your frame, use the
MSWord “Format” pull-down menu, select Text Box >
Colors and Lines to choose No Fill and No Line.
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