The world of technology is evolving at a fast pace and over the last decade many new technologies have emerged and strengthened their position in the cryptocurrency market. However, along with new and innovative technologies, the industries are also encountering new challenges before they can reap the benefits which these technologies promise. One of the best examples of this is cryptocurrency which promises to bring innovation to diverse fields. Cryptocurrencies such as Ethereum and Bitcoin have, in a short span of time, gained much popularity and people are trying to explore the technologies more. The influx of people into this market is so high that the cryptocurrency exchanges periodically disable the account creation feature. The average trading volume of the market, on daily basis, has been estimated to be trillions of dollars.