Cryptocurrencies have risen to prominence as a vital financial software system. They rely on a secure distributed ledger data structure, with mining as a key component. Mining adds records of previous transactions to the Blockchain, a distributed ledger that allows users to reach a safe, reliable consensus for each transaction. Mining also creates wealth in the form of new currency units. As a result, this research aims to conduct a bibliometric analysis of the published scientific literature on cryptocurrency's present trend and development. All relevant literature on cryptocurrency was compiled using Scopus. We also utilize Publish or Perish to integrate the data and perform fundamental analysis before visualizing it with VOSviewer and Microsoft Excel. The number of citations, publications, and research productivity were all measured using the bibliometric method. Based on the keyword search results, 2,249 documents were identified. Only publications published in peer-reviewed journals were chosen, and most articles were written in English. Limiting the Scopus database to journal papers yielded all of these articles. The bibliometric analysis summarises the current state of the scientific literature on cryptocurrencies and highlights topics worth investigating.
Aghaei Chadegani, A., Salehi, H., Yunus, M., Farhadi, H., Fooladi, M., Farhadi, M., & Ale Ebrahim, N. (2013). A comparison between two main academic literature collections: Web of Science and Scopus databases. Asian Social Science, 9(5), 18-26.
Ahmi, A., & Mohamad, R. (2019). Bibliometric Analysis of Global Scientific Literature on Web Accessibility. International Journal of Recent Technology and Engineering, 7(6), 250–258.
Ahmi, A., & Mohd Nasir, M. H. (2019). Examining the Trend of the Research on eXtensible Business Reporting Language (XBRL): A Bibliometric Review. International Journal of Innovation, Creativity and Change, 5(2), 1145–1167.
Almajali, D. A., Masa’Deh, R. E., & Dahalin, Z. M. (2022). Factors influencing the adoption of Cryptocurrency in Jordan: An application of the extended TRA model. Cogent Social Sciences, 8(1), 2103901.
Almeida, J., & Gonçalves, T. C. (2023). Cryptocurrency market microstructure: A systematic literature review. Annals of Operations Research, 332, 1035-1068. https://doi.org/10.1007/s10479-023-05627-5.
Alsmadi, A., Alrawashdeh, N., Al-Dweik, A., & Al-Assaf, M. (2022). Cryptocurrencies: A bibliometric analysis. International Journal of Data and Network Science, 6(3), 619-628.
Ammon, U. (2006). Language planning for international scientific communication: An overview of questions and potential solutions. Current Issues
in Language Planning, 7(1), 1–30.
Bouoiyour, J., & Selmi, R. (2015). What does Bitcoin look like? Annals of Economics and Finance, 16(2), 449-492.
Broadus, R. N. (1987). Toward a definition of “bibliometrics”. Scientometrics, 12(5-6), 373-379.
Burnham, J. F. (2006). Scopus database: a review. Biomedical digital libraries, 3(1), 1-8.
Cargill, M., & O’Connor, P. (2006). Developing Chinese scientists’ skills for publishing in English: Evaluating collaborating-colleague workshops
Based on genre analysis. Journal of English for Academic Purposes, 5, 207–221.
Chen, X., Miraz, M. H., Gazi, M. A. I., Rahaman, M. A., Habib, M. M., & Hossain, A. I. (2022). Factors affecting cryptocurrency adoption in digital business transactions: The mediating role of customer satisfaction. Technology in Society, 70, 102059.
Chu, J., Chan, S., Nadarajah, S., & Osterrieder, J. (2017). GARCH modelling of cryptocurrencies. Journal of Risk and Financial Management, 10(4), 17. https://doi.org/10.3390/jrfm10040017
Corbet, S., Lucey, B., Urquhart, A., & Yarovaya, L. (2019). Cryptocurrencies as a financial asset: A systematic analysis. International Review of Financial Analysis, 62, 182-199.
Egghe, L. (2006). Theory and practise of the g-index. Scientometrics, 69(1), 131-152.
Ferguson, N. (2018). The ascent of money: A financial history of the world. Penguin.
Ferguson, R. (2018). Blockchain technology: Enhancing trust and transparency in transactions. Journal of Financial Innovation, 12(3), 45-58. https://doi.org/10.1007/s40854-018-0112-3
García-Corral, F. J., Cordero-García, J. A., de Pablo-Valenciano, J., & Uribe-Toril, J. (2022). A bibliometric review of cryptocurrencies: How have they grown? Financial Innovation, 8(2). https://doi.org/10.1186/s40854-021-00306-5
Hirsch, J. E. (2005). An index to quantify an individual's scientific research output. Proceedings of the National Academy of Sciences, 102(46), 16569-16572.
Janteng, J., Lajuni, N., & Janteng, A. (2024). Factors Influencing the Acceptance of Blockchain Technology and Cryptocurrency for Financial Transactions among Millennials in Malaysia. International Journal of Academic Research in Business and Social Sciences, 14(11), 1741–1755.
Jariyapan, P., Mattayaphutron, S., Gillani, S. N., & Shafique, O. (2022). Factors influencing the behavioural intention to use cryptocurrency in emerging economies during the COVID-19 pandemic: Based on technology acceptance model 3, perceived risk, and financial literacy. Frontiers in Psychology, 12, 5935.
Katsiampa, P. (2017). Volatility estimation for Bitcoin: A comparison of GARCH models. Economics Letters, 158, 3-6. https://doi.org/10.1016/j.econlet.2017.06.023.
Kim, Y., Bock, G., & Lee, J. (2021). The adoption of mobile payment services for “fintech” in Korea. Journal of Financial Services Marketing, 26(3), 211-223.
Kim, B., Bock, G., & Lee, S. (2021). Perceptions towards cryptocurrency adoption: A case of Saudi Arabian citizens. Journal of Electronic Banking Systems. https://doi.org/10.5171/2021.110411.
Kristoufek, L. (2013). Bitcoin meets Google Trends and Wikipedia: Quantifying the relationship between phenomena of the Internet era. Scientific Reports, 3, 3415.
Leshno, J., & Strack, P. (2020). Bitcoin: An innovative alternative digital currency. Journal of Economic Perspectives, 34(3), 219-238.
Leshno, J. D., & Strack, P. (2020). Bitcoin: An axiomatic approach and an impossibility theorem. American Economic Review: Insights, 2(3), 269-286. https://doi.org/10.1257/aeri.20190494.
Li, X., & Wang, C. A. (2017). The technology and economic determinants of cryptocurrency exchange rates: The case of Bitcoin. Decision Support Systems, 95, 49-60.
Li, Y., & Flowerdew, J. (2007). Shaping Chinese novice scientists’ manuscripts for publication. Journal of Second Language Writing, 16, 100–117.
Moher D, Liberati A, Tetzlaff J, Altman DG, The PRISMA Group (2009). Preferred Reporting Items for Systematic Reviews and Meta-Analyses: The PRISMA Statement. PLoS Med 6(7): e1000097. doi:10.1371/journal.pmed1000097
Miraz, M. H., Hasan, M. T., Rekabder, M. S., & Akhter, R. (2022). Trust, transaction transparency, volatility, facilitating condition, performance expectancy towards cryptocurrency adoption through intention to use. Journal of Management Information and Decision Sciences, 25, 1-20.
Nain, S., Lajuni, N., & Mail, R. (2022). Management Accounting Practices: A Bibliometric Analysis. Management and Accounting Review, 21(1), 1-22.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from https://bitcoin.org/bitcoin.pdf
Pass, R., Rosen, A., & Tseng, W. L. D. (2013). Public-coin parallel zero-knowledge for np. Journal of Cryptology, 26(1), 1-10. https://doi.org/10.24191/MAR.V21i01-01
Rusly, F. H., Ahmi, A., Yakimin, Y., Talib, A., & Rosli, K. (2019). Global Perspective on Payroll System Patent and Research: A Bibliometric Performance. International Journal of Recent Technology and Engineering, 8(2S2), 148-157.
Sovbetov, Y. (2018). Factors influencing cryptocurrency prices: Evidence from Bitcoin, Ethereum, Dash, Litecoin, and Monero. Journal of Economics and Financial Analysis, 3(2), 1-27. https://doi.org/10.2478/sbe-2021-0021.
Statista. (2024). Cryptocurrencies - Malaysia. Retrieved from https://www.statista.com/outlook/fmo/digital-assets/cryptocurrencies/malaysia
Steger, M. B. (2003). Globalization: A concise introduction. New York: Oxford University Press.
Urquhart, A. (2016). The inefficiency of Bitcoin. Economics Letters, 148, 80-82. https://doi.org/10.1016/j.econlet.2016.09.019.
Yeong, Y. C., Kalid, K. S., Savita, K. S., Ahmad, M. N., & Zaffar, M. (2022). Sustainable cryptocurrency adoption assessment among IT enthusiasts and cryptocurrency social communities. Sustainable Energy Technologies and Assessments, 52, 102085.
Yermack, D. (2015). Is Bitcoin a real currency? An economic appraisal. In D. K. C. Lee (Ed.), The Handbook of Digital Currency (pp. 31-44). Elsevier. https://doi.org/10.1016/B978-0-12-802117-0.00002-3.
Lajuni, N., Janteng, J., & Janteng, A. (2024). Past, Present, and Future of Cryptocurrency: A Bibliometric Review. International Journal of Academic Research in Business and Social Sciences, 14(11), 3216–3235.
Copyright: © 2024 The Author(s)
Published by Knowledge Words Publications (www.kwpublications.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode
