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cryptocurrency final.pdf
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- 2. FR 2 2001209 Muhammed Hesham MuhammedMaamoun 2001112 Mohamed Atef Elwan 2001590 Hamdy Mohamed Zaki 2002020 Shawky ahmad shawky 2001782 Malek ahmed mohamed 2001602 Baher Fayez Youssef 2001286 Mohamed Mahmoud Mohamed Eldsoky 1902229 Motaz Adel Mohamed 2001868 Marwan Mohamed Hassan 2000135 Ahmed hawary abdelrehem ali TEAM 5 Faculty of Engineering Ain Shams University Submitted To : Dr. Shaimaa Fathy Aly Eng. Aser Mohamed Nader
- 3. • Introduction • Whatis Cryptocurrency? • Cryptocurrency development stages • Blockchain Technology • How to become a Blockchain Engineer • Types of Cryptocurrencies • Coins • Tokens • Cryptocurrency Mining • Pros & Cons of Cryptocurrency • criticism of cryptocurrency • Our future vision • Conclusion Outline 3
- 4. 4 Introduction A cryptocurrency isa digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
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- 6. 6 CC Crypto Currency It comes fromCryptography (the science of hiding information) It is a medium of exchange for goods and services
- 7. FR 7 Many cryptocurrencies aredecentralized networks based on blockchain technology. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
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- 9. • Bitcoin isknown as the first digital currency, but history provides us with more accurate details and time periods through which digital currencies have developed, which we present, according to the “forbes” website. 9
- 10. The beginning ofCryptocurrency 10 • RSA Encrypted Algorithm
- 11. 11 • Ecash isthe first form of digital currency that exists now
- 12. Years before Bitcoin 12 •B-Money & Bit Gold digital currency.
- 13. • A papertitled "Bitcoin - A Peer to Peer Electronic Cash System" was published in a mailing list discussion on cryptography, and was posted by someone calling himself Satoshi Nakamoto, whose true identity remains a mystery to this day. 13 The First research that mentions Bitcoin
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- 16. FR 16 • What isBlockchain?
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- 18. CC How tobecome a Blockchain Engineer
- 19. FR 19 A degree inthe field would help you understand the technical terms of the technology much better.
- 20. FR 20 Blockchain developers areprogrammers who create applications for blockchain
- 21. 21 Can you learnblockchain online? Free online courses to learn Blockchain technology from edX, Coursera, Udemy, and Pluralsight. These free courses are great to start your career with Blockchain.
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- 24. Add a footer24 We are going to classify them according to: -How they are made -Their functionality
- 25. How They aremade: 25 i. Coins ii. Tokens
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- 27. Bitcoins is mostfamous and the most used cryptocurrency. Bitcoin 27
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- 29. Bitcoin price hitsall-time high above $66,000 On 20 October 2021 29
- 30. The name “altcoin”began as a shorthand for “alternative to Bitcoin,” and most altcoins were launched to improve upon Bitcoin in some way. Altcoins 30
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- 32. Programmable assets thatlive within the blockchain of a given platform(Blockchain economies) ii. Tokens 32
- 33. Their Functionality: 33 i. Paymentcurrencies ii. Blockchain economies iii. Privacy coins iv. Utility tokens v. Stablecoins
- 34. These assets aremainly for payments and are hence called Payment Currencies. Example: Bitcoin (BTC) Litecoin (LTC) Bitcoin Cash (BCH). i. Payment Currencies 34
- 35. Note: While every digitalasset can theoretically be used to pay for things, merchant adoption or acceptance by providers of goods and services is more widespread for Payment Currencies. i. Payment Currencies 35
- 36. Blockchain Economies, also knownas blockchain platforms, take the functionality of blockchain technology further than just payments. ii. Blockchain economies 36
- 37. Blockchain Economies arethe Platforms where tokens are made. Therefore, blockchain platforms become their own “Blockchain Economies” with different assets, applications, and more. ii. Blockchain economies 37
- 38. Examples: Ethereum (ETH) Ethereum Classic(ETC) EOS (EOS) NEO (NEO) Tron (TRX) ii. Blockchain economies 38
- 39. In Privacy Cointransactions, only the sender and receiver know the number of coins transacted. Also, the balance of a Privacy Coin wallet address is only known by the owner of the wallet. iii. Privacy Coins 39
- 40. Examples: ZCash (ZEC) Monero (XMR) PIVX(PIVX) iii. Privacy Coins 40
- 41. They run ona blockchain platform, or in other words, are part of a Blockchain Economy. iv. Utility Tokens 41 Examples: Golem (GNT): a platform where users can pay GNT to rent computing power for memory- intensive tasks.
- 42. They always havethe same price (or aim to), unlike other digital assets, which can fluctuate greatly in value. Traders prefer to use these assets when they need stability. v. Stablecoins 42
- 43. v. Stablecoins 43 Examples: USD Coin(USDC) Paxos (PAX) Gemini (GUSD) TrueUSD (TUSD) Tether (USDT) Dai (DAI)
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- 45. Brief about Mining 45 •The process by which new units of the currency are made. • it is also the way that new transactions are confirmed by the network.
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- 47. Types of Mining 47 1-CPU mining
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- 49. 49 3-ASICs ASIC stands for “ApplicationSpecific Integrated Circuit”
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- 51. CC Pros &Cons of Cryptocurrency
- 52. FR Cons Pros Illegal Activities canbe Perform No Fraud and Scam in Cryptocurrency Loss Risk is High No Chance of Personal Information Leakage 52 Cryptocurrency Market is Highly Volatile Immediate and Secure Ownership Transfer
- 53. CC Criticism of cryptocurrency Five wayscryptocurrency critics are right
- 54. FR 54 1. Cryptocurrencies threaten thenation- state
- 55. 55 2. Cryptocurrencies are notdemocratic
- 56. FR 56 3. Bitcoin transactions arenot anonymous Microsoft founder Bill Gates
- 57. 57 4. Adoption willfalter without usability.
- 58. FR 58 5. Insecurity keeps peopleon the sidelines
- 59. CC Our futurevision
- 60. FR 60 Elon Musk's opinion Thecryptocurrency holder is "a good idea in many ways, optimistic about its future" but believes that this should not come at the expense of the environment.
- 61. 61 Economic analysts arguethat: Cryptocurrencies will disrupt the traditional financing system because one of the most attractive facilities is the ability to efficiently transfer payments across borders without cost, delays, or exchange rate fluctuations.
- 62. 62 Analysts' view ofBitcoin over the next 50 years: In terms of bitcoin, 50 years is a long time and could become either the global reserve currency or the next version of AOL that made so many people rich that it was dumped with the advent of better technologies, Johnson said.
- 63. 63 • Cryptocurrencies suchas Bitcoin have proven to be beneficial for the movement of money and speculation and are unlikely to disappear. • Some analysts believe that the future of cryptocurrency is very bright and that it will become the currency used globally soon
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- 65. Cryptocurrencies could seemvague and not safe, but it uses the future technology, So it is our duty to learn more about it and develop it because we are the future, and the future could be in this technology.
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