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Im a student at Sri Lanka institute of information technology and I am reading for cyber security BSc. I'm supposed to do a research project  with a group of four people within an year. We are preferring to do our research project in bitcoin domain.  We are supposed to come up with a software component which will address an existing issue in current bitcoin system. Please provide us with some opinions to come up with a valuable idea on our research project.
What is a good critical issue to address?
Any suggestions to address that issue?
Thank you.

I guess it will depend on your skillset...

Are you C++ coders, python, java,...?

I'm not sure why you are planning to do exactly since I didn't fully understand your question however if you going to speak about issues , you should speak about the blocksize debate I suppose since it's getting us nowhere and developers didn't decide what to do yet  .

Thank you for replying!

@altcoinhosting - well we are good in java, C++ and PHP programming.

@OmegaStarScream - we are actually planning to address an existing issue of bitcoin system and come up with a valuable solution for it as our research project. Including a software component to our research project is compulsory. Can you please tell us what is "blocksize debate" and what is the existing issue of it? we are yet to get familiar with bitcoin system.

http://www.coindesk.com/what-is-the-bitcoin-block-size-debate-and-why-does-it-matter/

I still confuse about your address issue research, it's based on how much bitcoin address exist?

@avatar_kiyoshi - First of all sorry for my bad English. For the last year research project in our university, we have to find an issue of any existing system and propose a solution. Me and my team members thought of selecting Bitcoin system, find an existing issue of the current system and provide a solution in an year. So we are looking for an issue in Bitcoin system to start our research project and that's why we posted a thread in this forum.
P.S - We are not familiar with Bitcoins much but hopefully we will learn about it and willing to provide a valuable solution through our research project.

Maybe as a first step you should fix that before considering fixing existing problems.

Thank you!
@shorena - yes i agree. we are going through it now and reading about bitcoin system from many sources. We posted this thread because we have to submit the topic of the research (existing issue in the bitcoin system) end of January. we have more than year to propose a solution. we hope that time period is enough us to get a good idea about this system.

Ha I see, but you should learn first before find an issue, it's useless if you can found an issue but you can't solve it. For me bitcoin system is quite complicated.

There are many options. It might be worth looking at existing issues (https://github.com/bitcoin/bitcoin/issues), BIPS (https://github.com/bitcoin/bips) (although they already propose solutions, they might give you an idea of problems and solutions in Bitcoin) or wiki (https://en.bitcoin.it/wiki/Main_Page) (there are some wishlists, too). By the way, Bitcoin Core is missing an HD wallet (see BIP32).

You may also have a look at Namecoin, Ethereum or other altcoins. There is really a lot of possible things you could do. Good luck finding the right one. :)