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Cryptocurrency
Cryptocurrency
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Cryptocurrency

  1. 1. Seminar on Crypto-Currency LinkedIn: sarveshmeena1994@gmail.com Submitted By: Sarvesh Kumar Meena M.Tech-CSE
  2. 2. Content  Introduction  History  What is the purpose of Crypto currency?  Characteristics of Crypto Currencies  Mining  How do crypto currencies work?  Top 10 Crypto Currencies in 2016  How to buy crypto currency?  Crypto-Currency wallet (Get a Wallet)
  3. 3. Content…. Differences between Crypto Currency and PayPal Economics Advantages of Crypto Currency  Benefits of Crypto Currency Disadvantages of Crypto Currency Conclusion Reference
  4. 4. Introduction • Simply A crypto currency is a digital currency. • A medium of exchange like normal currencies. • Crypto currencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies .
  5. 5. History • In 1998, Wei Dai Published a Description of “B-Money”, an anonymous, distributed electronica cash system. • Nick Szabo created "bit gold" Like bit-coin and other crypto currencies. • The first crypto-currency to capture the public imagination was Bit-coin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto.
  6. 6. What is the purpose of Crypto currency? • A crypto-currency is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. • Cryptography is used to secure the transactions and to control the creation of new coins.
  7. 7. Characteristics of Crypto Currencies • Use a number of different algorithms • Traded in different ways • Main characteristics that should consider by the customer are ;  Market capitalization and Daily trading volume Verification Method • Retailer acceptance
  8. 8. Mining • Mining programs tap into your computer's hardware resources and put them to work mining Bit-coin, Litecoin, or another type of crypto-currency. • And no, even if your hardware is used to generate money for them, you don't get any of it. • They get all the money from putting your hardware to work
  9. 9. How do crypto-currencies work? • Crypto-currency is an encrypted decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining. • First, let's review the basics and essentials of crypto- currency, and then we will do an overview of the other properties that have made crypto-currency what it is today
  10. 10. Top 10 Crypto Currencies in 2016  Bit-coin (2009)  Black-Coin (2014)  Dash(2015)  Doge-coin (2013)  Lite-coin (2011)  Name-coin (2011)  Nxt (2013)  Peer-coin (2012)  Prime-coin (2013)  Ripple(2013)
  11. 11. How to buy crypto currency? (Where can I buy crypto-currency?) • Crypto-currencies are assets created digitally following specific rules and can be exchanged among users just like any other currency. • In order to acquire crypto assets, the equivalent of a currency exchange office is needed. • This function is mainly done through an exchange or a broker.
  12. 12. Crypto-Currency wallet • A crypto-currency wallet is a secure digital wallet used to store, send, and receive digital currency like Bit-coin. Most coins have an official wallet or a few officially recommended third party wallets .
  13. 13. Getting a digital wallet • If we want to receive, store, or send EUR, you need a bank account. In the crypto world, you need a digital wallet. • There are many wallet types and providers. • To buy coins and set up a wallet with Coin-base you’ll need your ID, credit card or bank account details.
  14. 14. Differences between Crypto Currency and PayPal Crypto Currency PayPal Decentralized Not Decentralized Floated and not tied to the dollar Pegged to the dollar Behavior is backed military grade cryptography, not by contracts Behavior is backed by a contractual relationship with a corporation
  15. 15. Economics • Crypto-currencies are used primarily outside existing banking and governmental institutions, and exchanged over the Internet. • As of June 2017 total market capitalization of crypto- currencies is bigger than 100 billion USD and record high daily volume is larger than 6 billion USD.
  16. 16. Competition in crypto-currency markets • As of September 2017, there were over 1100 digital currencies in existence.
  17. 17. Crypto-currency Market Capitalizations
  18. 18. Benefits of Crypto Currency • Easy to carry. • Simple, Fast, Safe & Cheap. • Low inflation & Collapse Risk. • Untraceable. • Access to Everyone. • Decentralization Nature.
  19. 19. Disadvantages of Crypto Currency • Lack of Awareness and understanding. • Risk of Volatility. • Still Developing
  20. 20. Conclusion • As you can see, any crypto-currency 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 Crypto-currency to succeed, more people need to understand what it is.
  21. 21. Reference  www.investopedia.com/terms/c/cryptocurrency.asp  https://en.wikipedia.org/wiki/Cryptocurrency  https://www.slideshare.net  https://coinmarketcap.com/

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