Identification and Significance of the Problem

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Identification and Significance of the Problem according to the abstract that attached

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Abstract Bitcoin is the first decentralized digital currency. It was invented in 2008 by Satoshi Nakamoto. With Bitcoin peer to peer transactions are able to take place without an intermediary. Post release of Bitcoin many other cryptocurrencies began to surface. These coins are called Altcoins. Altcoins is a term for a cryptocurrency that is not Bitcoin. Initial Coin Offerings (ICO) are similar to online crowdfunding and IPO but for cryptocurrency. The advantages of ICO’s are receiving the coins at a cheaper value and discounted rate. After the ICO period, the coins are listed on exchanges for a higher price giving investors guaranteed profit. These coins are able to operate through the use of Blockchain. A Blockchain is a public ledger that records these transactions. There are various types of wallets used for cryptocurrency. Paper wallets are cold storage wallets with the cryptocurrency stores on the QR code. Software wallets are downloadable wallets. Hardware wallets are physical devices used to store cryptocurrency. These hardware wallets store your private keys in microcontrollers with no internet connection which reduce the chances of theft. Hardware wallets are the most secure form of cryptocurrency storage. There are actually no incidents of theft from hacking hardware wallets. The goal of this project is to build a secure hardware wallet that can hold a number of cryptocurrency. In addition to creating a wallet interface that corresponds to iPhone’s iOS system instead of computers. The facial recognition feature will be used to access the wallet as well as access to the live exchange. Identification & Significance of the Problem EEGR 490 – Senior Design Project I Purpose ¡ The purpose of this section of the project proposal is to: ¡ Introduce the reader to the importance of the topic being studied. Here the reader is oriented to the significance of the study and the research questions to follow. ¡ Place the problem into a particular context that defines the parameters of what is to be investigated. ¡ Provide the framework for reporting the results and indicate what is probably necessary to conduct the study and explain how the findings will present this information. First we must state the problem… ¡ Here the ultimate goal is to: ¡ Clearly identify the purpose of the research ¡ Focus on a targeted problem which can be resolved using specific research methods ¡ Direct the reader’s attention to the issues that will be addressed with the proposed research To make sure the problem statement is effective, we must make sure that it: ¡ Addresses a compelling topic ¡ Must be important to you and to a larger community ¡ Must be one that motivates you to address it ¡ Supports multiple perspectives ¡ Generates a variety of viewpoints from an audience made up of reasonable people. ¡ Addresses a problem that is supported by various resources of information and pertinent research Surviving “SO WHAT” Your research must answer the ”SO WHAT?" question. ¡ Why should the audience care about the problem that you are proposing to solve? ¡ The problem must be relevant and relatable. ¡ The research must clearly demonstrate that it is not trivial by conveying its importance, benefits and justification. ¡ You must show that you have researched the material and thought about its significance by identifying key concepts and terms. Things to Avoid ¡ Beware of circular reasoning. Don’t state that the research problem as simply the absence of the thing you are suggesting. For example, if you propose, "The problem in this community is that it has no hospital.” ¡ This only leads to a research problem where: ¡ The need is for a hospital ¡ The objective is to create a hospital ¡ The method is to plan for building a hospital, and ¡ The evaluation is to measure if there is a hospital or not. ¡ This is an example of a research problem that fails the "so what?" test. It does not reveal the relevance of why you are investigating the problem of having no hospital in the community. Also, the research problem does not explain the significance of why one should study the fact that no hospital exists in the community [i.e. the hospital in the community is ten miles away and has no emergency room]. The Identification & Significance of the Problem section: ¡ Should not be longer than one single spaced typed page ¡ Should not state how to do something ¡ Should not offer a vague opinion ¡ Should address a research gap/gap in knowledge Questions References ¡ g=29803&p=185918 ¡ uploads/giving/Problem-Statement.pdf
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Explanation & Answer




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Cryptocurrency is a virtual currency that uses cryptography to overcome counterfeit as a
security feature. It is a medium of exchange where financial transactions and their verifications
are done at a decentralized system. Blockchain technology uses computers to authorize and
monitor the transactions while mak...

I was struggling with this subject, and this helped me a ton!


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