The source under consideration, the book “Bitcoin Essentials,” written by Albert Szmigielski, presents comprehensive information on one of the most popular types of cryptocurrency. It provides a general description of a Bitcoin wallet, which is a program facilitating the transactions and expands on their variations (Szmigielski 2). Alongside the data intended for a person unfamiliar with the field, the author continues by discussing the specificities of different mining software solutions and approaches and forecasting the future of this cryptocurrency. Thus, this source covers all the essential aspects of bitcoin mining.
The text under consideration is credible due to the author’s expertise in computing science, software engineering, and blockchain technology. Moreover, it was reviewed by another specialist in the field, Kevin M. Fitzgerald, and the organization of the book is optimal for finding the necessary information. Hence, this source provides extensive data on the vital aspects of bitcoin mining, the pros and cons of common practices, and their overall profitability in a structured way. It can also be used by any reader regardless of their knowledge and motives due to the clarity of explanations and the inclusion of sufficient details for people who do not possess background data.
The book is applicable to the prospective research due to the fact that it contains all the necessary information for further analysis of bitcoin’s situation on a global scale. The most important facts for the study are contained in chapter 8 about the future of this cryptocurrency. Thus, the consideration of the exchange rate, security concerns, the possibility of changes, and the ongoing decentralization will be advantageous for answering the research question. These data will be complemented by the challenges of Large Scale Mining operations and the political climate contributing to the precision of the outcomes.
Work Cited
Szmigielski, Albert. Bitcoin Essentials. PACKT Publishing, 2016.