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CRYPTO CURRENCY

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CRYPTO CURRENCY

  1. 1. CRYPTO CURRENCY 1
  2. 2. Content • What is Crypto Currency? • Ideas of Crypto Currency • Why we use Crypto Currencies? • Mining • Characteristics of Crypto Currencies • Top 10 Crypto Currencies in 2016 • Benefits of Crypto Currency • Disadvantages of Crypto Currency • Differences between Crypto Currency and PayPal • Top 10 Crypto Currencies 2
  3. 3. What is Crypto Currency? 3
  4. 4. Ideas of Crypto Currency • Bitcoin may be the TCP / IP of money. Paul Bauchheit – Creator of Gmail • I do think Bitcoin is the first[encrypted money] that has the potential to do something like change the world. Peter Thiel – Co – Founder of PayPal • Bitcoin will do to banks what email did to the postal industry Rick Falkvinge – Founder of the Swedish Pirate Party • Bitcoin actually has the balance and incentives right, and that is why it is starting to take off Julian Assange - Founder of Wikileaks Watch video 4
  5. 5. Crypto Currency • Simply Crypto Currency means digital currency • A medium of exchange like normal currencies • Designed for the purpose of exchanging digital information • Exchanging process made possible by certain principles of Cryptography. • Cryptography • Used to secure the transactions • Control the creation of new coins 5
  6. 6. Why we use Crypto Currencies? • Specially designed to take advantage of the architecture of the internet • Transactions are checked, or “confirmed” by the computers of the users on the currency's network • Computers that verify the transactions receive a small amount of currency as a reward 6
  7. 7. Mining 7 • Process of adding transaction records to public ledger of past transactions or block chain • Ledger of past transactions – block chain • The block chain serves to confirm transactions to the rest of the network as having take place • Use the block chain to distinguish legitimate transactions from attempts to re – spend coins that have already been spent elsewhere
  8. 8. Characteristics of Crypto Currencies • Use a number of different algorithms • Traded in different ways • Main characteristics that should consider by the customer are; • Market capitalization and Daily trading volume • Verification Method • Retailer acceptance 8
  9. 9. Top 10 Crypto Currencies in 2016 • Bitcoin • BlackCoin • Dash • Dogecoin • Litecoin • Namecoin • Nxt • Peercoin • Primecoin • Ripple 9
  10. 10. Benefits of Crypto Currency • Mutual Exposure • International use • Customer Anonymity • No Surprise Fees or Waiting Periods • Improving Reputation 10
  11. 11. Disadvantages of Crypto Currency • Lack of Awareness and understanding • Risk of Volatility • Still Developing 11
  12. 12. Differences between Crypto Currency and PayPal Crypto Currency PayPal Decentralized Not Decentralized Floated and not tied to the dollar Pegged to the dollar Behavior is backed military grade cryptography, not by contracts Behavior is backed by a contractual relationship with a corporation 12

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