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Cryptocurrency
Cryptocurrency
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Cryptocurrency

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Cryptocurrency is the name given to a system that uses cryptography to allow the secure transfer and exchange of digital tokens in a distributed and decentralized manner. These tokens can be traded at market rates for fiat currencies.

Cryptocurrency is the name given to a system that uses cryptography to allow the secure transfer and exchange of digital tokens in a distributed and decentralized manner. These tokens can be traded at market rates for fiat currencies.

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Cryptocurrency

  1. 1. CRYPTOCURRENCY PRESENTED BY: Shashi Kumar
  2. 2. Contents S.No. Topic Slide No. 1 What is Cryptocurrency? 3 2 Conventional vs Digital Currency 4 3 Why use Cryptocurrency? 6 4 Risks 7 5 Types of Cryptocurrency 8 6 Example : Bitcoin 9 7 Bitcoin Technology 11 8 Bitcoin Transaction Process 12 9 Conclusion 13 10 References 14
  3. 3. What is 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.
  4. 4. Conventional vs Digital Currency
  5. 5. Conventional vs Digital Currency
  6. 6. Why use Cryptocurrency?
  7. 7. 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. 8. Types of Cryptocurrency
  9. 9. Example : Bitcoin • Both a cryptocurrency and an electronic payment system • Satoshi Nakamoto in 2008 • First decentralised payment network • System is peer-to-peer • 21 million bitcoins • Completely Open source • 1BTC = $1258.48
  10. 10. Example : Bitcoin
  11. 11. Bitcoin Technology
  12. 12. Conclusion Cryptocurrency is an impressive technical achievement, but it remains a monetary experiment. Even if cryptocurrencies survive, they may not fully displace fiat currencies. As I have tried to show in this presentation, they provide an interesting new perspective from which to view economic questions surrounding currency governance, the characteristics of money, the political economy of financial intermediaries, and the nature of currency competition.
  13. 13. References • https://thefutureofpayments.blog/ (April 20, 2017) • https://www.youtube.com/watch?v=Gc2en3nHxA4 (April 19, 2017) • https://en.wikipedia.org/wiki/Cryptocurrency (April 17, 2017) • Milne, Alistair, Cryptocurrencies from an Austrian Perspective (April 17, 2017). Available at SSRN: https://ssrn.com/abstract=2946160 or http://dx.doi.org/10.2139/ssrn.2946160 • Reid, F. & Harrigan, M. (2013) An Analysis of Anonymity in the Bitcoin System. Security and Privacy in Social Networks. Available at: http://link.springer.com/chapter/10.1007/978-1-4614- 41397_10 • Nakamoto, S. 2008. Bitcoin: A Peer-to-Peer Electronic Cash System. bitcoin.org. https://bitcoin.org/bitcoin.pdf.

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