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Cryptocurrency
Submitted by: Zain Akram
Submitted to: Sir Jamshaid
4/25/2021 1
Introduction
• Digital currency
• Use to buy goods and services
• Uses an online ledger with cryptography to secure online transactions
4/25/2021 2
Graphical
Representation
4/25/2021 3
History
• The first decentralized cryptocurrency, Bitcoin, was created in 2009 by presumably pseudonymous developer
Satoshi Nakamoto.
• It used SHA-256, a cryptographic hash function, in it proof-of-work scheme.
• In 1983, a cryptographer conceived an anonymous cryptographic electronic money called e cash.
4/25/2021 4
Advantages
• Confidential transactions
• Give access to credit
• Hold ownership
• Strong security
• Easier international trade
4/25/2021 5
Disadvantages
• Cybersecurity issues
• Scalability
• Adverse effects of mining on the environment
• Susceptible to hacks
• Data losses can cause financial losses
4/25/2021 6
Impact on society
• It could give a significant benefits by overcoming the
lack of social trust and increase the access of financial
services
• It gives you full authority to manage and control your
assets, because it doesn’t involve third-parties and
intermediaries
• It makes overseas remittance process a lot easier,
cheaper, and more secure coz it can be transferred
across globe instantly.
4/25/2021 7
Future Use
• There’s a lot of money in this new industry and many people
reached millionaire status by dealing in cryptocurrency.
• In a world economy that is destabilized, this cryptocurrency
system can become a stable force.
• The Federal Reserve could issue it’s own digital currency, as some
global central banks are exploring.
• Companies like Amazon, Walmart and Starbucks might issue
digital coins that inspire trust and gain wide acceptance.
4/25/2021 8
Bitcoin
• It is type of cryptocurrency.
• Each bitcoin is basically a computer file stored in digital
wallet app on smartphone or PC.
• It was first created in 2008 by a person name “Satoshi
Nakamoto”.
• Bitcoin is based on an elliptic curve called secp256k1 and
encrypted with the ECDSA algorithm.
• Bitcoins can be obtained by buying on an exchange,
accepting for goods and services and mining new ones
4/25/2021
9
Ethereum
• It is the second largest cryptocurrency after bitcoin.
• It is most actively used blockchain.
• Ethereum was proposed in 2013 by programmer “Vitalik
Buterin”.
• It is used for decentralized finance, the exchange of NFTs
and has been utilized by many initial coin offspring.
• It’s not just a platform but also a programing language
running on a blockchain.
4/25/2021
10
Characteristics
• Use a number of different algorithms
• Trade in different ways
• Irreversible and immutable
• Decentralized technology
• Transaction fees are miniscule
4/25/2021 11
Mining
• Mining programs are used for mining Bitcoin, Litecoin and other types of cryptocurrency.
• It is painstaking, costly and only sporadically rewarding
• There are mining programs that are being used mine various cryptocurrencies .
• Not every one gets the bitcoins or lite-coins or other cryptocurrencies, it’s all about luck.
• There are so may miners around the globe that are mining 24/7.
4/25/2021 12
Top Cryptocurrencies
Top Five cryptocurrencies investment in 2021:
• Bitcoin
• Ethereum
• Binance Coin
• Tether
• Cardano
4/25/2021 13
Cryptocurrency Wallet
• It is a secure digital wallet
• It is used to store, send, and receive digital currency like Bitcoin
• Most coins have official wallet and some have third party wallets
• Some wallets are specifically designed to be compatible with a framework
4/25/2021 14
Trading
• If you own a cryptocurrency, you’ll make an account with a crypto brockage
• Fund your account
• Pick a crypto to invest in
• Choose a strategy
• Choose a cryptocurrency
4/25/2021 15
Blockchain Technology
• It is system of recording information
• By that is impossible to hack, cheat or change the system
• It’s a type of DLT in which transactions are recorded with an immutable cryptographic signature called Hash
• A blockchain is resistance to modifications of it’s data
• The primary use of blockchains today is as a distributed ledger for cryptocurrencies
4/25/2021 16
Risks on using Cryptocurrency
• Hackers
• Fewer protection
• Cost
• Scams
• Lack of transparency
4/25/2021 17
Conclusion
Cryptocurrency is an impressive technical achievement, but is remains a monetary experiments. Even if
cryptocurrencies survive, they may not fully displace fiat currencies. As I have tried to show in this presentation, they
provide an interesting new perspective from which to view economic questions surrounding currency governance, the
characteristic of money, the political economy of financial intermediates, and the nature of currency competition.
4/25/2021 18
THANKS
4/25/2021 19

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Cryptocurrency

  • 1. Cryptocurrency Submitted by: Zain Akram Submitted to: Sir Jamshaid 4/25/2021 1
  • 2. Introduction • Digital currency • Use to buy goods and services • Uses an online ledger with cryptography to secure online transactions 4/25/2021 2
  • 4. History • The first decentralized cryptocurrency, Bitcoin, was created in 2009 by presumably pseudonymous developer Satoshi Nakamoto. • It used SHA-256, a cryptographic hash function, in it proof-of-work scheme. • In 1983, a cryptographer conceived an anonymous cryptographic electronic money called e cash. 4/25/2021 4
  • 5. Advantages • Confidential transactions • Give access to credit • Hold ownership • Strong security • Easier international trade 4/25/2021 5
  • 6. Disadvantages • Cybersecurity issues • Scalability • Adverse effects of mining on the environment • Susceptible to hacks • Data losses can cause financial losses 4/25/2021 6
  • 7. Impact on society • It could give a significant benefits by overcoming the lack of social trust and increase the access of financial services • It gives you full authority to manage and control your assets, because it doesn’t involve third-parties and intermediaries • It makes overseas remittance process a lot easier, cheaper, and more secure coz it can be transferred across globe instantly. 4/25/2021 7
  • 8. Future Use • There’s a lot of money in this new industry and many people reached millionaire status by dealing in cryptocurrency. • In a world economy that is destabilized, this cryptocurrency system can become a stable force. • The Federal Reserve could issue it’s own digital currency, as some global central banks are exploring. • Companies like Amazon, Walmart and Starbucks might issue digital coins that inspire trust and gain wide acceptance. 4/25/2021 8
  • 9. Bitcoin • It is type of cryptocurrency. • Each bitcoin is basically a computer file stored in digital wallet app on smartphone or PC. • It was first created in 2008 by a person name “Satoshi Nakamoto”. • Bitcoin is based on an elliptic curve called secp256k1 and encrypted with the ECDSA algorithm. • Bitcoins can be obtained by buying on an exchange, accepting for goods and services and mining new ones 4/25/2021 9
  • 10. Ethereum • It is the second largest cryptocurrency after bitcoin. • It is most actively used blockchain. • Ethereum was proposed in 2013 by programmer “Vitalik Buterin”. • It is used for decentralized finance, the exchange of NFTs and has been utilized by many initial coin offspring. • It’s not just a platform but also a programing language running on a blockchain. 4/25/2021 10
  • 11. Characteristics • Use a number of different algorithms • Trade in different ways • Irreversible and immutable • Decentralized technology • Transaction fees are miniscule 4/25/2021 11
  • 12. Mining • Mining programs are used for mining Bitcoin, Litecoin and other types of cryptocurrency. • It is painstaking, costly and only sporadically rewarding • There are mining programs that are being used mine various cryptocurrencies . • Not every one gets the bitcoins or lite-coins or other cryptocurrencies, it’s all about luck. • There are so may miners around the globe that are mining 24/7. 4/25/2021 12
  • 13. Top Cryptocurrencies Top Five cryptocurrencies investment in 2021: • Bitcoin • Ethereum • Binance Coin • Tether • Cardano 4/25/2021 13
  • 14. Cryptocurrency Wallet • It is a secure digital wallet • It is used to store, send, and receive digital currency like Bitcoin • Most coins have official wallet and some have third party wallets • Some wallets are specifically designed to be compatible with a framework 4/25/2021 14
  • 15. Trading • If you own a cryptocurrency, you’ll make an account with a crypto brockage • Fund your account • Pick a crypto to invest in • Choose a strategy • Choose a cryptocurrency 4/25/2021 15
  • 16. Blockchain Technology • It is system of recording information • By that is impossible to hack, cheat or change the system • It’s a type of DLT in which transactions are recorded with an immutable cryptographic signature called Hash • A blockchain is resistance to modifications of it’s data • The primary use of blockchains today is as a distributed ledger for cryptocurrencies 4/25/2021 16
  • 17. Risks on using Cryptocurrency • Hackers • Fewer protection • Cost • Scams • Lack of transparency 4/25/2021 17
  • 18. Conclusion Cryptocurrency is an impressive technical achievement, but is remains a monetary experiments. Even if cryptocurrencies survive, they may not fully displace fiat currencies. As I have tried to show in this presentation, they provide an interesting new perspective from which to view economic questions surrounding currency governance, the characteristic of money, the political economy of financial intermediates, and the nature of currency competition. 4/25/2021 18