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Crypto-Currency
(BITCOIN)
By.Devashish
Cryptocurrency ?
• A cryptocurrency (or crypto
currency) is a digital asset designed
to work as a medium of
exchange using cryptography to
secure the transactions and to
control the creation of additional
units of the currency.
• Cryptocurrencies are classified as a
subset of digital currencies and are
also classified as a subset
of alternative currencies and virtual
currencies .
Types of cryptocurrencies
• The first group functions as a currency exclusively.
• It includes Bitcoin and its forks, such as Litecoin or dogecoin. They have no other
functions, except for value transfer.
• The second group has the ability to have distributed computations.
• The main representation of distributed computing is Ethereum and its smart
contracts. It has ability to run small pieces of software on all computers in the
network.
• Privacy coins (anonymity).
• That was the reason for privacy coins to appear on the cryptocurrency scene.
They use different technologies to hide transactions, but the idea is the same
across all of them. Protect the data about senders and receivers.
Some Examples of Crypto-currencies
MoneroLitecoin Dogecoin Dash
• Global
• Bitcoin fees are cheap
• Every transaction on the Bitcoin network is published publicly
Data Mining
• Data mining is the
computing process of
discovering patterns in
large data sets involving
methods at the
intersection of machine
learning, statistics,
and database
systems An essential
process where intelligent
methods are applied to
extract data patterns.
Bitcoin(฿)
• Bitcoin is a worldwide cryptocurrency and
digital payment system called the first
decentralized digital currency, since the system
works without a central repository or single
administrator.
• It was invented by an unknown programmer, or
a group of programmers, under the
name Satoshi Nakamoto and released as open-
source software in 2009.
Units of Bitcoin
• The unit of account of the bitcoin system is
bitcoin. As of 2014, symbols used to represent
bitcoin are BTC and Small amounts of bitcoin
used as alternative units are millibitcoin
(mBTC), microbitcoin (µBTC, sometimes referred
to as bit), and satoshi. Named in homage to
bitcoin's creator, a satoshi is the smallest amount
within bitcoin representing 0.00000001 bitcoin,
one hundred millionth of a bitcoin.
• A millibitcoin equals to 0.001 bitcoin, one
thousandth of a
bitcoin.One microbitcoin equals to 0.000001
bitcoin, one millionth of a bitcoin.
Continued.....
• The system is peer-to-peer, and transactions
take place between users directly, without an
intermediary. These transactions are verified by
network nodes and recorded in a
public distributed ledger called a blockchain.
• Bitcoin is the world's most popular digital
currency. It is powered by technology known as
the blockchain.
That’s all from my side
Thank U all......

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Crypto-Currency (BITCOIN) Explained

  • 2. Cryptocurrency ? • A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. • Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies .
  • 3. Types of cryptocurrencies • The first group functions as a currency exclusively. • It includes Bitcoin and its forks, such as Litecoin or dogecoin. They have no other functions, except for value transfer. • The second group has the ability to have distributed computations. • The main representation of distributed computing is Ethereum and its smart contracts. It has ability to run small pieces of software on all computers in the network. • Privacy coins (anonymity). • That was the reason for privacy coins to appear on the cryptocurrency scene. They use different technologies to hide transactions, but the idea is the same across all of them. Protect the data about senders and receivers.
  • 4. Some Examples of Crypto-currencies MoneroLitecoin Dogecoin Dash • Global • Bitcoin fees are cheap • Every transaction on the Bitcoin network is published publicly
  • 5. Data Mining • Data mining is the computing process of discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems An essential process where intelligent methods are applied to extract data patterns.
  • 6. Bitcoin(฿) • Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, since the system works without a central repository or single administrator. • It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open- source software in 2009.
  • 7. Units of Bitcoin • The unit of account of the bitcoin system is bitcoin. As of 2014, symbols used to represent bitcoin are BTC and Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), microbitcoin (µBTC, sometimes referred to as bit), and satoshi. Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoin, one hundred millionth of a bitcoin. • A millibitcoin equals to 0.001 bitcoin, one thousandth of a bitcoin.One microbitcoin equals to 0.000001 bitcoin, one millionth of a bitcoin.
  • 8. Continued..... • The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. • Bitcoin is the world's most popular digital currency. It is powered by technology known as the blockchain.
  • 9. That’s all from my side Thank U all......