Cryptographic currencies like Bitcoin use cryptography and a decentralized blockchain to allow for the creation and transfer of digital currency without a central authority. The document provides an overview of the history of cryptographic currencies beginning with David Chaum's anonymous ecash in the 1990s. It then introduces TheoryCoin as an example to explain how coins are created through proof-of-work puzzles, transferred through digital signatures, and stored on a blockchain. The document compares TheoryCoin to Bitcoin and discusses some open problems around anonymity, users, programmable money, mining pools, and whether cryptographic currencies benefit good or bad actors.
Jason simeon genge theory of coin - In this ppt jason genge describing the theroy of cryptocurrency. Jaosn Genge
Follow Jason Genge -https://plus.google.com/u/0/115846886431062163876
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https://www.facebook.com/jason.simeongenge.5
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Follow Jason Genge - https://www.scoop.it/u/jason-simeon-genge
Tiền điện tử (Electronic money) Đây là một dạng tiền điện tử được sử dụng để mua sắm hàng hoá hoặc dịch vụ trên internet. Những người sử dụng loại tiền này có thể tải tiền từ tài khoản của mình ở ngân hàng về máy tính cá nhân, rồi khi duyệt web có thể chuyển tiền từ máy tính đến máy tính người bán để thanh toán. Hiện nay, dạng tiền này đang được một công ty Hà Lan là DigiCash cung cấp
Electronic Money is also referred as e - money, Electronic Cash, Digital Money, Electronic Currency, Digital Currency, e - currency, Digital Cash, and Cyber Currency. Electronic Money uses Internet, Digital Stored Value systems. The bank guarantees payment to merchants and collects money from its customers; An acquirer which is normally another bank which establishes an account with a merchant. The acquirer normally charges a commission of around 2% on each sale from the merchant
An introductory talk on Bitcoin and cryptocurrencies.
Video (screencast): https://youtu.be/R7hTBcm6EVc
https://s-tikhomirov.github.io/
Earlier versions of this talk were given in Russian (Higher school of Economics, 2014 and Skoltech, 2016).
1. Bitcoin is a digital currency that exists on a distributed network, not controlled by any central authority. It uses cryptography and a public ledger called the blockchain to record transactions.
2. Users can transfer bitcoin to each other via digital signatures to authorize transactions without revealing their identities. The network checks that funds are available before allowing transfers to prevent double spending.
3. Miners on the network validate transactions by competing to solve computational puzzles and add verified transactions to the blockchain. Solving a puzzle first earns the miner a reward of new bitcoins, providing an incentive to secure the network.
Blockchain and Formal verification (English)Jun Furuse
The document provides an overview of blockchain technology, including its history and key components. It discusses the evolution of currencies from bartering to modern fiat money. It then explains the technical aspects of blockchain, including how it uses a distributed ledger database, consensus algorithms to resolve conflicts, and smart contracts. Specific blockchain protocols like Bitcoin and Ethereum are examined. The document also covers proof of stake as an alternative to proof of work used in blockchains like Tezos to address issues like energy inefficiency and centralization of mining power.
Jason simeon genge theory of coin - In this ppt jason genge describing the theroy of cryptocurrency. Jaosn Genge
Follow Jason Genge -https://plus.google.com/u/0/115846886431062163876
Follow Jason Genge - https://twitter.com/jasonsimeongeng
https://www.facebook.com/jason.simeongenge.5
Follow Jason Genge - https://www.linkedin.com/in/jason-simeon-genge-60bba7152/
Follow Jason Genge - https://www.scoop.it/u/jason-simeon-genge
Tiền điện tử (Electronic money) Đây là một dạng tiền điện tử được sử dụng để mua sắm hàng hoá hoặc dịch vụ trên internet. Những người sử dụng loại tiền này có thể tải tiền từ tài khoản của mình ở ngân hàng về máy tính cá nhân, rồi khi duyệt web có thể chuyển tiền từ máy tính đến máy tính người bán để thanh toán. Hiện nay, dạng tiền này đang được một công ty Hà Lan là DigiCash cung cấp
Electronic Money is also referred as e - money, Electronic Cash, Digital Money, Electronic Currency, Digital Currency, e - currency, Digital Cash, and Cyber Currency. Electronic Money uses Internet, Digital Stored Value systems. The bank guarantees payment to merchants and collects money from its customers; An acquirer which is normally another bank which establishes an account with a merchant. The acquirer normally charges a commission of around 2% on each sale from the merchant
An introductory talk on Bitcoin and cryptocurrencies.
Video (screencast): https://youtu.be/R7hTBcm6EVc
https://s-tikhomirov.github.io/
Earlier versions of this talk were given in Russian (Higher school of Economics, 2014 and Skoltech, 2016).
1. Bitcoin is a digital currency that exists on a distributed network, not controlled by any central authority. It uses cryptography and a public ledger called the blockchain to record transactions.
2. Users can transfer bitcoin to each other via digital signatures to authorize transactions without revealing their identities. The network checks that funds are available before allowing transfers to prevent double spending.
3. Miners on the network validate transactions by competing to solve computational puzzles and add verified transactions to the blockchain. Solving a puzzle first earns the miner a reward of new bitcoins, providing an incentive to secure the network.
Blockchain and Formal verification (English)Jun Furuse
The document provides an overview of blockchain technology, including its history and key components. It discusses the evolution of currencies from bartering to modern fiat money. It then explains the technical aspects of blockchain, including how it uses a distributed ledger database, consensus algorithms to resolve conflicts, and smart contracts. Specific blockchain protocols like Bitcoin and Ethereum are examined. The document also covers proof of stake as an alternative to proof of work used in blockchains like Tezos to address issues like energy inefficiency and centralization of mining power.
Prof Willy Susilo presented a seminar titled "Blockchain and its Applications" as part of the SMART Seminar Series on 20th September 2018.
More information: https://news.eis.uow.edu.au/event/blockchain-and-its-applications/
Keep updated with future events: http://www.uoweis.co/events/category/smart-infrastructure-facility/
This document discusses becoming a cryptonomad by building on the philosophies of nomads and digital nomads. It defines a cryptonomad as a digital nomad who is also a cryptocurrency enthusiast. Cryptonomads can operate at basic, flex, or purist levels depending on their use of centralized versus decentralized exchanges and wallets. The document provides examples of tools that cryptonomads can use, including various wallet options, debit cards, trading venues, and ways to build a supportive community through meetups and groups.
A research-oriented introduction to the cryptographic currencies (starting wi...vpnmentor
Presentation by Stefan Dziembowski, associate professor and leader of Cryptology and Data Security Group University of Warsaw. In BIU workshop on Bitcoin. Covered exclusively by vpnMentor.com
Blockchain & Bitcoin
At Opera Lunch Session – Boston
By Viet Le
This document discusses blockchain technology and bitcoin. It provides a primer on public key cryptography and how it enables secure communication through puzzles and encryption. It then explains how blockchain uses these principles to create a distributed public ledger to record bitcoin transactions through a process called mining. The document notes debates around bitcoin and discusses factors that could influence its value and adoption, such as inflation resistance, decentralization, and potential to replace a portion of fiat currencies in circulation.
Introduction into blockchains and cryptocurrenciesSergey Ivliev
Slides from my intro course:
- mapping the digital asset ecosystem (as of August 2019)
- how bitcoin works - step-by-step primer?
- hashrate, dollar value transferred, transaction rate and other metrics (as of August 2019)
- hard money, uncorrelated asset and other use cases
- proof-of-stake and proof-of-identity
- horizontal and vertical scaling
- how ethereum smart contracts work?
- ERC20 token standard
- boom and bust of the ICO market (as of August 2019)
- intro into #DeFI (as of August 2019)
- stablecoins
- MarkerDAO, Compound, Uniswap and other cool decentralized finance protocols
- Cryptokitties, Storj, Peepeth and examples of non-financial dapps
Trick or Treat?: Bitcoin for Non-Believers, Cryptocurrencies for CypherpunksDavid Evans
David Evans
DC Area Crypto Day
Johns Hopkins University
30 October 2015
This (non-research) talk will start with a tutorial introduction to cryptocurrencies and how bitcoin works (and doesn’t work) today. We’ll touch on some of the legal, policy, and business aspects of bitcoin and discuss some potential research opportunities in cryptocurrencies.
Blockchain and cryptocurrencies like Bitcoin enable new forms of digital money and financial contracts. Bitcoin introduced a trustless digital currency using cryptography to secure a distributed public ledger called the blockchain. Miners on the Bitcoin network process transactions and add them to blocks which get added to the immutable blockchain roughly every 10 minutes. Over time, the blockchain has grown large as a record of all transactions, posing scalability challenges. New applications like smart contracts and alternative currencies like Namecoin build on this innovation to enable decentralized applications and services.
The document provides an introduction to Bitcoin and blockchain technology. It discusses how blockchain creates an immutable and distributed digital ledger through the use of cryptography and consensus across a decentralized network. It notes that while blockchain dates back to the 1970s, it is a novel combination of existing technologies that has created new opportunities for digital currencies, smart contracts, and other applications.
Shai Halevi discusses new ways to protect cloud data and security. Presented at "New Techniques for Protecting Cloud Data and Security" organized by the New York Technology Council.
This document provides an introduction and overview of Secure Multi-Party Computation (SMPC). It begins with an introduction of the speaker and agenda. It then defines SMPC as a problem in distributed computing where parties wish to compute a function while preserving privacy and correctness, even if some parties are faulty. It presents the Millionaire's Problem protocol as an example. Real-world applications are discussed, along with adversary classifications and desirable SMPC properties. Key techniques like garbled circuits, oblivious transfer, and secret sharing are introduced. The document concludes by outlining future topics to be covered.
The document provides an overview of cryptocurrencies and digital currencies. It discusses why crypto is important for information security, IP protection, and protection against ransomware. It then outlines a plan to cover Bitcoin and its history, characters, mechanisms, blockchain, symmetric and asymmetric crypto algorithms, breaking crypto difficulties, and comparisons to other digital currencies like Litecoin. Practical exercises on wallets, transfers, and exchanges are also mentioned. Additional advanced topics like SegWit, zero-knowledge proofs, and homomorphic encryption are included as bonuses.
Lecture on 18 December 2018
Role of Cryptography in Blockchain
RSA and SHA
Blockchain for Beginners
Elective course from the Faculty of Information Technology, Thai - Nichi Institute of Technology, Bangkok for undergraduate students.
#BlockchainTNI2018
On Mining Bitcoins - Fundamentals & OutlooksFilip Maertens
This document provides an overview of cryptocurrency mining practices and outlines some key concepts:
- Cryptocurrency mining involves using computational power to solve complex mathematical problems to validate transactions and earn cryptocurrency rewards. Two main types are hashcash-sha256 and hashcash-scrypt.
- Specialized computer hardware like ASIC miners have been developed that are much more efficient at mining than CPUs or GPUs, leading to an "arms race" among miners to acquire the latest equipment before difficulty increases.
- As the mining industry has grown, it has seen a shift from individual hobbyists to large professionalized mining operations in data centers, and miners have also started engaging in trading as an alternative to direct mining.
An introduction to bitcoin and how to use them.
Then diving further into the technology behind them called blockchains.Finally sketching out what's further possible.
Update for 2016-01-20 now included.
Tips: 1My5jXrMESagfNmCVHuxbbMRBb5As8oWKy
The document provides an overview of the history and development of cryptocurrency and blockchain technology. It discusses how Bitcoin was launched in 2008 via a whitepaper by Satoshi Nakamoto. It describes how Silk Road helped popularize Bitcoin's use for anonymous online transactions. The document also explains key blockchain concepts like decentralized transaction ledgers, digital signatures, mining, and smart contracts. It notes how Ethereum generalized blockchains and enabled programmable transactions via smart contracts. In closing, it briefly outlines some business applications of blockchain and ongoing standardization work at ITU-T.
These are the slides (in english) of my talk I gave (in french) at University Paris VII on january 12th 2017.
Videos in two parts are available here : https://bitcoin.fr/video-paiements-securises-et-non-securises-sur-une-blockchain-1ere-partie/
and there :
https://bitcoin.fr/video-paiements-securises-et-non-securises-sur-une-blockchain-2eme-partie/
In the second part, I presented my article I've recently written with Ricardo Perez-Marco. It should be available soon on arxiv.
For more informations see :
https://webusers.imj-prg.fr/~ricardo.perez-marco/blockchain/blockchain.html
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Prof Willy Susilo presented a seminar titled "Blockchain and its Applications" as part of the SMART Seminar Series on 20th September 2018.
More information: https://news.eis.uow.edu.au/event/blockchain-and-its-applications/
Keep updated with future events: http://www.uoweis.co/events/category/smart-infrastructure-facility/
This document discusses becoming a cryptonomad by building on the philosophies of nomads and digital nomads. It defines a cryptonomad as a digital nomad who is also a cryptocurrency enthusiast. Cryptonomads can operate at basic, flex, or purist levels depending on their use of centralized versus decentralized exchanges and wallets. The document provides examples of tools that cryptonomads can use, including various wallet options, debit cards, trading venues, and ways to build a supportive community through meetups and groups.
A research-oriented introduction to the cryptographic currencies (starting wi...vpnmentor
Presentation by Stefan Dziembowski, associate professor and leader of Cryptology and Data Security Group University of Warsaw. In BIU workshop on Bitcoin. Covered exclusively by vpnMentor.com
Blockchain & Bitcoin
At Opera Lunch Session – Boston
By Viet Le
This document discusses blockchain technology and bitcoin. It provides a primer on public key cryptography and how it enables secure communication through puzzles and encryption. It then explains how blockchain uses these principles to create a distributed public ledger to record bitcoin transactions through a process called mining. The document notes debates around bitcoin and discusses factors that could influence its value and adoption, such as inflation resistance, decentralization, and potential to replace a portion of fiat currencies in circulation.
Introduction into blockchains and cryptocurrenciesSergey Ivliev
Slides from my intro course:
- mapping the digital asset ecosystem (as of August 2019)
- how bitcoin works - step-by-step primer?
- hashrate, dollar value transferred, transaction rate and other metrics (as of August 2019)
- hard money, uncorrelated asset and other use cases
- proof-of-stake and proof-of-identity
- horizontal and vertical scaling
- how ethereum smart contracts work?
- ERC20 token standard
- boom and bust of the ICO market (as of August 2019)
- intro into #DeFI (as of August 2019)
- stablecoins
- MarkerDAO, Compound, Uniswap and other cool decentralized finance protocols
- Cryptokitties, Storj, Peepeth and examples of non-financial dapps
Trick or Treat?: Bitcoin for Non-Believers, Cryptocurrencies for CypherpunksDavid Evans
David Evans
DC Area Crypto Day
Johns Hopkins University
30 October 2015
This (non-research) talk will start with a tutorial introduction to cryptocurrencies and how bitcoin works (and doesn’t work) today. We’ll touch on some of the legal, policy, and business aspects of bitcoin and discuss some potential research opportunities in cryptocurrencies.
Blockchain and cryptocurrencies like Bitcoin enable new forms of digital money and financial contracts. Bitcoin introduced a trustless digital currency using cryptography to secure a distributed public ledger called the blockchain. Miners on the Bitcoin network process transactions and add them to blocks which get added to the immutable blockchain roughly every 10 minutes. Over time, the blockchain has grown large as a record of all transactions, posing scalability challenges. New applications like smart contracts and alternative currencies like Namecoin build on this innovation to enable decentralized applications and services.
The document provides an introduction to Bitcoin and blockchain technology. It discusses how blockchain creates an immutable and distributed digital ledger through the use of cryptography and consensus across a decentralized network. It notes that while blockchain dates back to the 1970s, it is a novel combination of existing technologies that has created new opportunities for digital currencies, smart contracts, and other applications.
Shai Halevi discusses new ways to protect cloud data and security. Presented at "New Techniques for Protecting Cloud Data and Security" organized by the New York Technology Council.
This document provides an introduction and overview of Secure Multi-Party Computation (SMPC). It begins with an introduction of the speaker and agenda. It then defines SMPC as a problem in distributed computing where parties wish to compute a function while preserving privacy and correctness, even if some parties are faulty. It presents the Millionaire's Problem protocol as an example. Real-world applications are discussed, along with adversary classifications and desirable SMPC properties. Key techniques like garbled circuits, oblivious transfer, and secret sharing are introduced. The document concludes by outlining future topics to be covered.
The document provides an overview of cryptocurrencies and digital currencies. It discusses why crypto is important for information security, IP protection, and protection against ransomware. It then outlines a plan to cover Bitcoin and its history, characters, mechanisms, blockchain, symmetric and asymmetric crypto algorithms, breaking crypto difficulties, and comparisons to other digital currencies like Litecoin. Practical exercises on wallets, transfers, and exchanges are also mentioned. Additional advanced topics like SegWit, zero-knowledge proofs, and homomorphic encryption are included as bonuses.
Lecture on 18 December 2018
Role of Cryptography in Blockchain
RSA and SHA
Blockchain for Beginners
Elective course from the Faculty of Information Technology, Thai - Nichi Institute of Technology, Bangkok for undergraduate students.
#BlockchainTNI2018
On Mining Bitcoins - Fundamentals & OutlooksFilip Maertens
This document provides an overview of cryptocurrency mining practices and outlines some key concepts:
- Cryptocurrency mining involves using computational power to solve complex mathematical problems to validate transactions and earn cryptocurrency rewards. Two main types are hashcash-sha256 and hashcash-scrypt.
- Specialized computer hardware like ASIC miners have been developed that are much more efficient at mining than CPUs or GPUs, leading to an "arms race" among miners to acquire the latest equipment before difficulty increases.
- As the mining industry has grown, it has seen a shift from individual hobbyists to large professionalized mining operations in data centers, and miners have also started engaging in trading as an alternative to direct mining.
An introduction to bitcoin and how to use them.
Then diving further into the technology behind them called blockchains.Finally sketching out what's further possible.
Update for 2016-01-20 now included.
Tips: 1My5jXrMESagfNmCVHuxbbMRBb5As8oWKy
The document provides an overview of the history and development of cryptocurrency and blockchain technology. It discusses how Bitcoin was launched in 2008 via a whitepaper by Satoshi Nakamoto. It describes how Silk Road helped popularize Bitcoin's use for anonymous online transactions. The document also explains key blockchain concepts like decentralized transaction ledgers, digital signatures, mining, and smart contracts. It notes how Ethereum generalized blockchains and enabled programmable transactions via smart contracts. In closing, it briefly outlines some business applications of blockchain and ongoing standardization work at ITU-T.
These are the slides (in english) of my talk I gave (in french) at University Paris VII on january 12th 2017.
Videos in two parts are available here : https://bitcoin.fr/video-paiements-securises-et-non-securises-sur-une-blockchain-1ere-partie/
and there :
https://bitcoin.fr/video-paiements-securises-et-non-securises-sur-une-blockchain-2eme-partie/
In the second part, I presented my article I've recently written with Ricardo Perez-Marco. It should be available soon on arxiv.
For more informations see :
https://webusers.imj-prg.fr/~ricardo.perez-marco/blockchain/blockchain.html
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
2. Leave while you can!
• I will NOT talk about:
– Politics
– Economics
– …
• Coming up next:
– Algorithms
– Cryptography
– …
3. Outline
• Part 0: a little history
• Part 1: TheoryCoin
– How to create coins
– How to transfer coins
– How to store coins
• Part 2: diff( , )
• Part 3: Problems and issues
5. The 1990s
David Chaum and anonymous ecash
“The difference between
a bad electronic cash system
and well-developed digital cash
will determine whether
we will have a dictatorship
or a real democracy”
(attributed to Chaum)
8. The advent of Bitcoin
• 2009: Bitcoin announced by Satoshi Nakamoto
– Pseudonym for person or group of person
• 2009-2011: slow start…
• 2011-2013: Silk Road and Dread Pirate Roberts
• End 2013: Bitcoin price skyrockets
– and the world notices!
9. Outline
• Part 0: a little history
• Part 1: TheoryCoin
– How to create coins
– How to transfer coins
– How to store coins
• Part 2: diff( , )
• Part 3: Problems and issues
10. TheoryCoin:
How to create money
1. Everyone
tries to solve a puzzle
2. The first one to solve
the puzzle gets 1 TC
3. The solution of puzzle i
defines puzzle i+1
11. TheoryCoin:
How to create money
H
L ∈ {0,1}* R ∈ {0,1}*
T ∈ {0,1}d
SolvePuzzle(L){
repeat{
R = my_name || i++
T = H(L,R)
}while(T ≠ 0d)
return R
}
The puzzle:
given L, find R
such that T=0d
(a random function)
* aka Proof-of-Work
12. TheoryCoin: (coins to ppl)
How to create money
H
x0 = Start! x1 =(P1, i1)
000…000
x2=(P2, i1)
H
000…000
x3=(P3, i3)
H
000…000
P3
P1
P2
x1
x1
x2 x2
x3
x3
* aka the blockchain
13. x7=(P3, i7)
x6=(P3, i6)
x5=(P5, i5)
x0=Start! x1=(P1, i1) x2=(P2, i2)
x3=(P3, i3)
x4=(P4, i4)
TheoryCoin:
How to create money
* aka the 51% attack
14. TheoryCoin:
How to create money
Recap:
Solve the next puzzle get a coin
– To “solve” puzzle i find xi s.t H(xi-1,xi)=0d
– The longest chain defines “next puzzle”
– The name in block xi “gets” coin i.
15. Outline
• Part 0: a little history
• Part 1: TheoryCoin
– How to create coins
– How to transfer coins
– How to store coins
• Part 2: diff( , )
• Part 3: Problems and issues
16. TheoryCoin:
How to transfer money
(Digital) Signatures
– Only you can sign
– Everyone can verify
– You cannot deny
Give coin 3 to Jesper
Claudio
17. TheoryCoin:
How to transfer money
Gen
Sign Verify
message message, signature accept/reject
secret key public key
“Your username”
“Your pin code”
18. P3 P1
m=“P3 gives coin 3 to P1”
s=Sig(sk3,m)
If
Ver(pk3,m,s) = accept
and
P3 owns coin 3
then
return accept
TheoryCoin:
How to transfer money
21. Outline
• Part 0: a little history
• Part 1: TheoryCoin
– How to create coins
– How to transfer coins
– How to store coins
• Part 2: diff( , )
• Part 3: Problems and issues
23. x4=(P4, (m,s), i4)
P1
TheoryCoin:
How to store money
P3
P2 P4
(m,s)
(m,s)
(m,s)
SolvePuzzle(L,...){
repeat{
R = my_name||(m,s)|| i++
T = H(L,R)
}while(T ≠ 0d)
return R
}
24. Outline
• Part 0: a little history
• Part 1: TheoryCoin
– How to create coins
– How to transfer coins
– How to store coins
• Part 2: diff( , )
• Part 3: Problems and issues
25. diff( , )
How is money created in Bitcoin?
• New block every ~10 mins
– d adjusted every ~2000 blocks
• H = 2-SHA2
• Initial reward: 50 BTC
– Halved every ~4 years (now 25 BTC)
26. diff( , )
How is money transferred in Bitcoin?
P1 gives 14 to P1
Transaction fee 1
Example: P1 wants to give 60 to P2
... gives 50 to P1
… gives 25 to P1
P1 gives 60 to P2
27. diff( , )
How is money stored in Bitcoin?
• Transaction in orphaned blocks are invalid
– Wait 6 blocks (~1 hour) before accepting transaction.
– Checkpoints to prevent complete history rollback.
• All transaction are stored in the blockchain
– (Currently ~14 GB)
28. Outline
• Part 0: a little history
• Part 1: TheoryCoin
– How to create coins
– How to transfer coins
– How to store coins
• Part 2: diff( , )
• Part 3: Problems and issues
29. Anonymity?
• Problem:
– Every transaction ever made is recorded forever
• Solution?
– Use new identity for each transaction
• But:
– Heuristics allow to cluster identities
• Anonymous alternatives:
– Zerocoin, Zerocash…
30. Users?
(and their devices)
• Unfortunate property of DSA
• This address
1HKywxiL4JziqXrzLKhmB6a74ma6kxbSDj
probably stole ~250000kr this way
(due to bug in Android Java based random generator)
Extractor
Sig(sk,m1,r)
Sig(sk,m2,r)
sk
31. Programmable money?
“Bitcoin uses a scripting system for transactions. Forth-like,
Script is simple, stack-based, and processed from left to right. It
is purposefully not Turing-complete, with no loops.”
E.g., “P1 gives 1 BTC to P2 if at least
2 out of (P1,P2,P3) sign this transaction”
Functionality: more than money?
Security: malware payments?
32. Mining pools
• Solving puzzles (mining) is hard!
– Miners join pools and share work/reward
• How to optimally split work?
• Mechanism design?
– rational miner?
– how to allocate reward?
33. A final word…
Distributed currencies:
for the good guys or the bad guys?
– Crime is bad! Tax evasion is bad!
– But sometimes governments are bad too!
Thanks! Questions?
34. Sources:
Learn about signatures/ecash/cryptography at csaudk
https://services.brics.dk/java/courseadmin/crypto/
https://services.brics.dk/java/courseadmin/cpt
https://services.brics.dk/java/courseadmin/CryCom
Story of Chaum and DigiCash (to be taken with a grain of salt)
http://cryptome.org/jya/digicrash.htm
Bitcoin paper and announcement
http://article.gmane.org/gmane.comp.encryption.general/12588/
http://www.mail-archive.com/cryptography@metzdowd.com/msg10142.html
This pizza cost 750,000 usd
http://motherboard.vice.com/blog/this-pizza-is-worth-750000
Lily Allen turns down btcs
https://twitter.com/lilyallen/statuses/419942070770741249
Signature attack
http://eprint.iacr.org/2013/734
Deanonymizing
http://cseweb.ucsd.edu/~smeiklejohn/files/imc13.pdf
http://eprint.iacr.org/2012/584
Zerocoin/Zerocash
http://zerocoin.org/
Graphs, stats etc
www.blockchain.info
Comparison with Altcoins
http://www.coinwarz.com/cryptocurrency
Bitcoin stolen from TV
http://nymag.com/daily/intelligencer/2013/12/bloomberg-anchors-christmas-bitcoin-gets-stolen.html
Visa/Mastercard vs Wikileaks
http://www.forbes.com/sites/andygreenberg/2010/12/07/visa-mastercard-move-to-choke-wikileaks/
Not in the talk, but very interesting:
Silkroad essentials
http://exitevent.com/privacy-tor-btc-and-what-the-silk-road-crackdown-means-to-you-131112.asp http://arstechnica.com/tech-policy/2013/10/how-the-feds-took-down-the-dread-
pirate-roberts/ http://pando.com/2014/01/02/with-130m-of-bitcoin-wealth-and-plans-to-sell-the-fbi-could-rattle-the-virtual-currency-cage
The value overflow bug
https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures#CVE-2010-5139
The March 2013 chain fork
https://bitcoin.org/en/alert/2013-03-11-chain-fork
Buggy transaction, mistery miner
https://blockchain.info/tx-index/3618498/4005d6bea3a93fb72f006d23e2685b85069d270cb57d15f0c057ef2d5e3f78
https://bitcointalk.org/index.php?topic=67634.0
The problem with “checkpointed” bitcoin
http://www.links.org/files/decentralised-currencies.pdf
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