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CRYPTOCURRENCY
The Digital Coin
PRESENTED BY:-
Utkarsh Singh
Srinath Singh
Contents
S.No. Topic SlideNo.
1 What is Cryptocurrency? 3
2 Conventional vs Digital Currency 4
3 Why use Cryptocurrency 5
4 Risks 6
5 Types of Cryptocurrency 7
6 Example:Bitcoin 8
8 Bitcoin Transaction Process 9
9 Bitcoin Stats 10
10 References 14
What is Cryptocurrency ?
• Digital currency or digital money is an Internet-based medium of exchange
distinct from physical (such as banknotes and coins) that exhibits properties similar
to physical currencies, but allows for instantaneous transactions and borderless
transfer-of-ownership.
• Cryptocurrency - A digital currency in which encryption techniques(cryptography)
are used to regulate the generation of units of currency and verify the transfer of
funds, operating independently of a central bank.
• The first cryptocurrency to be created was Bitcoin back in 2009. Today there are
hundreds of other cryptocurrencies, often referred to as Altcoins.
Conventional vs Cryptocurrency
Why use Cryptocurrency?
• Fast, Safe and Cheap
• Ease of Use and highly portable
• Untraceable (pseudo-anonymous
transactions)
• Transparent and neutral
• Decentralised nature
• Active involvement of users
• Fewer risks for merchant
• Freedom to transact
• Low inflation and collapse risk
Risks
•Hackers. Cryptocurrencies are targets for highly sophisticated
hackers, who have been able to breach advanced security systems.
•Fewer protections. If you trust someone else to hold your
cryptocurrencies and something goes wrong, that company may not
offer you the kind of help you expect from a bank or debit or credit
card provider.
•Cost. Cryptocurrencies can cost consumers much more to use than
credit cards or even regular cash, often due to price volatility.
•Scams. Fraudsters are taking advantage of the hype surrounding
virtual currencies to cheat people with fake opportunities.
•Lack of Transparency. The anonymous nature of cryptocurrencies
make transparency and accountability difficult for consumers seeking
to ensure the safety of their investments.
Types of Cryptocurrency
Example : Bitcoin
• Both a cryptocurrency and an electronic payment system
• Satoshi Nakamoto in 2009
• First decentralised payment network
• System is peer-to-peer
• Total 21 million bitcoins
• Completely Open source
• 1BTC = 6,28,900
BITCOIN STATISTICS
BITCOIN PRICE GRAPH
References
• https://www.slideshare.net
• https://www.google.co.in
• https://en.wikipedia.org/
Cryptocurrency and Bitcoin

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Cryptocurrency and Bitcoin

  • 1. CRYPTOCURRENCY The Digital Coin PRESENTED BY:- Utkarsh Singh Srinath Singh
  • 2. Contents S.No. Topic SlideNo. 1 What is Cryptocurrency? 3 2 Conventional vs Digital Currency 4 3 Why use Cryptocurrency 5 4 Risks 6 5 Types of Cryptocurrency 7 6 Example:Bitcoin 8 8 Bitcoin Transaction Process 9 9 Bitcoin Stats 10 10 References 14
  • 3. What is Cryptocurrency ? • Digital currency or digital money is an Internet-based medium of exchange distinct from physical (such as banknotes and coins) that exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer-of-ownership. • Cryptocurrency - A digital currency in which encryption techniques(cryptography) are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. • The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies, often referred to as Altcoins.
  • 5. Why use Cryptocurrency? • Fast, Safe and Cheap • Ease of Use and highly portable • Untraceable (pseudo-anonymous transactions) • Transparent and neutral • Decentralised nature • Active involvement of users • Fewer risks for merchant • Freedom to transact • Low inflation and collapse risk
  • 6. Risks •Hackers. Cryptocurrencies are targets for highly sophisticated hackers, who have been able to breach advanced security systems. •Fewer protections. If you trust someone else to hold your cryptocurrencies and something goes wrong, that company may not offer you the kind of help you expect from a bank or debit or credit card provider. •Cost. Cryptocurrencies can cost consumers much more to use than credit cards or even regular cash, often due to price volatility. •Scams. Fraudsters are taking advantage of the hype surrounding virtual currencies to cheat people with fake opportunities. •Lack of Transparency. The anonymous nature of cryptocurrencies make transparency and accountability difficult for consumers seeking to ensure the safety of their investments.
  • 8. Example : Bitcoin • Both a cryptocurrency and an electronic payment system • Satoshi Nakamoto in 2009 • First decentralised payment network • System is peer-to-peer • Total 21 million bitcoins • Completely Open source • 1BTC = 6,28,900
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