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Cryptocurrency_Seminar.pptx

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Cryptocurrency_Seminar.pptx

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Cryptocurrencies are a new paradigm for money. They promise to streamline existing financial architecture to make it faster and cheaper. In addition, their technology and architecture decentralize existing monetary systems and make it possible for transacting parties to exchange value and money independently of intermediary institutions such as banks.

Cryptocurrencies are a new paradigm for money. They promise to streamline existing financial architecture to make it faster and cheaper. In addition, their technology and architecture decentralize existing monetary systems and make it possible for transacting parties to exchange value and money independently of intermediary institutions such as banks.

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Cryptocurrency_Seminar.pptx

  1. 1. Presented By : Devsarkar Rohini Jakate Chimmayee Sharma Ram
  2. 2.  Introduction  History  Working  Purpose  Characteristics  Advantages  Disadvantages  Conclusion  Reference
  3. 3.  Simply a Cryptocurrency is a ‘Digital Currency’.  It is a medium of exchange like normal currency.  A cryptocurrency is digital, encrypted and decentralized means it uses electronic systems, secure and broadly distributed.
  4. 4.  In 1998, Wei Dai Published a Description of "B-Money", anonymous, distributed electronica cash system.  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.  Soon after, in October 2011, Litecoin was released.
  5. 5.  Cryptocurrencies run on a distributed public ledger called blockchain, a record of all transactions updated and held by currency holders.  Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated mathematical problems that generate coins.
  6. 6.  Most cryptocurrencies use blockchain technology to record transactions.  A blockchain is a growing list of records, called blocks, that are linked together using cryptography.  Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data
  7. 7.  A crypto-currency is a medium of exchange like normal currencies such as USD & INR, 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.
  8. 8. 1. Bitcoin (BTC) 2. Ethereum (ETH) 3. Binance Coin (BNB) 4. Tether (USDT 5. Solana (SOL) 6. Cardano (ADA) 7. U.S. Dollar Coin (USDC) 8. XRP (XRP) 9. Terra (LUNA) 10. Polkadot (DOT)
  9. 9.  All transactions are recorded on the blockchain.  Use a number of different algorithm  Traded in different ways  (Anonymous)Since there is no need for a central authority, users do not need to identify themselves when transacting with cryptocurrency.  Most cryptocurrencies are decentralized means having no central authority.
  10. 10. Advantages Disadvantages Secure and private Illegal transactions Decentralized Risk of Data Loss Currency exchanges finish smoothly No refund or cancellation Cost-effective mode of transaction High consumption of Energy Easy transfer of funds value of cryptocurrencies such as Bitcoins can change significantly
  11. 11.  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.
  12. 12.  https://bitcoin.org/en/  https://en.wikipedia.org/wiki/Cryptocurrency  https://www.investopedia.com/terms/c/cryptocurrency.asp  https://www.forbes.com/advisor/investing/what-is-cryptocurrency/

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