Bitcoin is a decentralized digital currency and payment network that functions without a central authority. It was created in 2008 by the anonymous entity Satoshi Nakamoto. Bitcoin uses cryptography to secure and verify transactions as well as to control the creation of new bitcoins. Users can obtain bitcoins by mining them with specialized hardware or exchange other currencies, goods, and services for bitcoins. The objectives of Bitcoin are to enable instant peer-to-peer transactions worldwide with zero or low processing fees.

1. BITCOIN-an innovativeBITCOIN-an innovative
payment networkpayment network
Shailaja Sampat (131046)
Rajvi Trivedi (131039)
Manthan Shah (131025)

2. What is BITCOIN ?What is BITCOIN ?
 Bitcoin is a payment gateway with digital
wallet.
 Bitcoin Foundation standardizes, protects
and promotes the Bitcoin cryptographic
currency worldwide.
 Bitcoin is an open source software. This
source can be reviewed by anyone.
 Bitcoin is decentralized electronic cash
system.
 Payment gateway : e-commerce service provider
 Cryptography : Process of analyzing protocols
necessary for information security.

3. About BITCOINAbout BITCOIN
 The original Bitcoin software
was developed by Satoshi
Nakamoto-a Japanese
programmer.
 It was founded by Bitcoin core
developers in 2008.
 Bitcoin is first decentralized
digital currency .
 It is useful for transaction of
money in any country because
it provides money transfer
system in Dollars, Euros, Yens,
Rupees etc.

4. How to use BITCOIN ?How to use BITCOIN ?
 We can use this software by
downloading “BITCOIN Miner”
application on our mobile phone
or computer.
 We can use bitcoins got form
application stored in your digital
wallet.
 We can purchase video games ,
gifts ,books and can transfer
money to anyone.

5. Governance of BITCOINGovernance of BITCOIN
 Bitcoin's governance structure is splitted by class.
The Board is currently structured with five seats.
 Two seats by Individual member class.
Two seats by Corporate member class.
One seat by Founding member class.
 Governance committee members are selected by
general elections.
 Board seats are held for a two-year term.

6. Objectives of BITCOINObjectives of BITCOIN
 There are three main
objectives :
1. Instant peer-to-peer
transactions
2. Worldwide
payments
3. Zero or low
processing fees

7. Missions of BitcoinMissions of Bitcoin
Inform users to protect them from common
mistakes.
Give an accurate description of Bitcoin properties,
potential uses and limitations.
Display transparent alerts and events regarding the
Bitcoin network.
Invite talented people to develop Bitcoin at many
levels.
Provide visibility to Bitcoin ecosystem.
Improve Bitcoin worldwide accessibility.
Aim to advance standards and security
To remain strong advocates of the liberating
power of decentralized money

8. Workflow of BitcoinWorkflow of Bitcoin
 The block chain contains shared
public transaction log. Transactions
are verified that spending bitcoins
are actually owned by the spender.
 A transaction is a transfer of
amount between Bitcoin
addresses that gets included in block
chain. It contains a secret “private
key” as a proof of addressee.
 Transactions are broadcast between
users and confirmed by the network
is called mining.

9. Benefits of BitcoinBenefits of Bitcoin
Payment without going to bank
Free acceptance
No fee
No charge-backs
Simple form for transaction
Digital signature , verification
Transactions can be received at any time,
regardless of whether your computer is
turned on or off.
The first neutral global currency

10. Disadvantages of BitcoinDisadvantages of Bitcoin
Volatile price
Payments are irreversible
Non anonymous system
(All transactions are stored publicly
and permanently on the network,
so anyone can see transactions of
any Bitcoin address.)
 Less secure transactions
Taxes are applicable
No central authority

11. ReferencesReferences
 https://www.google.co.in/search?
hl=en&site=imghp&tbm=isch&source=hp&biw=1366&bi
h=633&q=bitcoin&oq=bitcoin&gs_l=img.3..0.2749.7911.
0.8438.30.15.0.4.4.4.122.1033.8j6.14.0....0...1ac.1.26.img..
16.14.653.vQUPLzT4DI8
 https://bitcoinfoundation.org/about/governance
 https://bitcoinfoundation.org/about/
 http://en.wikipedia.org/wiki/Bitcoin
 https://bitcoinfoundation.org/
 https://www.mtgox.com/
 https://en.bitcoin.it/wiki/Main_Page

12. THANK YOUTHANK YOU