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Computer Science Department

Pycoin: Blockchain-Based Cryptocurrency Web Application

Masaya Sasaki

Pycoin is a blockchain-based cryptocurrency web application that uses a blockchain network for the database. Blockchain-based cryptocurrency dramatically reduces the cost of transferring value digitally. Pycoin allows users to make new transactions to transfer the cryptocurrency to another user, add new transactions to the blockchain through a process called mining, receive rewards from the process of mining, and check the historical record of transactions recorded in the blockchain. The blockchain will be maintained through several local nodes on the computer which will use a publication-subscribe model to communicate new transactions, validating those transactions, and recording those transactions on the blockchain. Pycoin uses Python for the blockchain and cryptocurrency functionality and Hyper Text Markup Language 5(HTML5), Cascading Style Sheets(CSS), Javascript, and ReactJS for the User Interface. In general, Pycoin allows users to digitally send and receive money, help maintain the blockchain, and check the histories of transactions by accessing the blockchain.