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Cryptocuurency-Seminar

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Cryptocurrency
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Cryptocuurency-Seminar

  1. 1. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Cryptocurrency Dhanashri Chaudhari1 SSBT’s C.O.E.T Guided by: Mr. Atul Dusane October 8,2015 1 (SSBT’s C.O.E.T - 425001, Maharashtra, India) October 8, 2015 Cryptocurrency 1/14
  2. 2. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Outline 1 Introduction 2 Why use Cryptocurrency? 3 Evolution of Cryptocurrency 4 Differentiation 5 How to earn it? 6 Transaction 7 Advantages 8 Disadvantages 9 Conclusion October 8, 2015 Cryptocurrency 2/14
  3. 3. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Introduction Cryptocurrency is a medium of exchange using cryptography to secure the transactions and to control the creation of new units. ”Bitcoin” became the first decentralized cryptocurrency in 2009.Since then, numerous cryptocurrencies have been created. Cryptocurrencies use decentralized control as opposed to centralized electronic money/centralized banking systems. October 8, 2015 Cryptocurrency 3/14
  4. 4. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Why use Cryptocurrency? 1 It’s Fast 2 It’s Cheap 3 Central Govt can’t take it away. 4 There are no chargebacks. 5 You own it. 6 You don’t need to trust anyone else. 7 private as you want to be. Figure: October 8, 2015 Cryptocurrency 4/14
  5. 5. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Evolution of Cryptocurrency Year Name Description 2009 Bitcoin Used SHA256 as hashing function April 2011 Namecoin Decentralized DNS Oct 2011 Litecoin 1st successful(script hash function) - Peercoin First to use Proof of network Early 2014 Monero 2G of cryptocurrency 2015 Capricoin Improved and more user friendly October 8, 2015 Cryptocurrency 5/14
  6. 6. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Differentiation Figure: Differentiation October 8, 2015 Cryptocurrency 6/14
  7. 7. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion How to earn it? Download any wallet which is a open source on your device and generate a login id and password. Connect your bank account with it and get started. Presently 1 bitcoin=16,047INR You can transfer and save your coins with almost no fees. Figure: Unocoin October 8, 2015 Cryptocurrency 7/14
  8. 8. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion It looks like... Figure: Unocoin Account October 8, 2015 Cryptocurrency 8/14
  9. 9. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Transaction There is an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner. A payee can verify the signatures to verify the chain of ownership. Figure: Transaction October 8, 2015 Cryptocurrency 9/14
  10. 10. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Advantages Freedom in payment Control and security Information is transparent Very low fees Fewer risks for merchants October 8, 2015 Cryptocurrency 10/14
  11. 11. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Disadvantages Lack of awareness and understanding Risk and volatilty Still Developing October 8, 2015 Cryptocurrency 11/14
  12. 12. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Conclusion As you can see,any crptocurrency until now is not perfect. It have many advantages; however, it also has its disadvantages. This is mostly due to the fact that it is still a relatively young and new currency. People are just beginning to become more aware of it. In order for Cryptocurrency to succeed, more people need to understand what it is. October 8, 2015 Cryptocurrency 12/14
  13. 13. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion References Andy Greenberg (20 April 2011). Crypto Currency. Forbes.com. Retrieved 8 August 2014 Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto satoshin@gmx.com www.coinreport.net www.coindesk.com www.unocoin.com October 8, 2015 Cryptocurrency 13/14
  14. 14. Cryptocurrency Dhanashri Chaudhari Outline Introduction Why use Cryp- tocurrency? Evolution of Cryptocur- rency Differentiation How to earn it? Transaction Advantages Disadvantages Conclusion Thank You... October 8, 2015 Cryptocurrency 14/14

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