An Introductory Guide

1. CRYPTOCURRENCY
By Ogheneovie Ralph Otutu
(Phexcom)
An introductory guide
7pm +01 GMT
10pm +4 GMT
TimeDate
Sat 25 April 20

2. PHEXCOM
FAST FACTS
Graduated from
University Of Bolton
BS. Hons in Computer Science
Freelance Software Developer
& Certified Ethical Hacker (CEH)
Produces Music
Humanitarian, Pan-Africanist

3. Introduction
Outline
A bit of history
Top 10 Cryptocurrency 2020
Blockchain Technology
Mining
Ledger
Wallet ( How to get a Wallet )
Cryptocurrency Exchanges

4. Differences between
Cryptocurrency and PayPal
Outline Advantages & Disadvantages
Trading Cryptocurrencies
Conclusions
References

5. Introduction
Cryptography + Currency = Cryptocurrency
Cryptocurrency is a digital currency
that can be used like any other currency
but it's virtual, Which means we can
feel it or touch it like other currencies
like Dollar and Euro note.
it's a currency that is secured by
cryptography, Which makes it almost
impossible to double-spend or
counterfeit.
Most cryptocurrency are decentralized
network which is based on the
blockchain technology

6. What is Cryptography
Its a practice of security data by
scrambling and transforming it into a
more secured format
Modern cryptography uses
sophisticated mathematical equations
(algorithms) and secret keys to encrypt
and decrypt data.
Cryptography is used to provide
secrecy and integrity to our data, and
both authentication and anonymity to
our communications.
What is Cryptography

7. A bit of history
According to investopedia.com Bitcoin was the first digital currency
that was launched based on the Blockchain technology.
Bitcoin was launched in (2009), by a person or group of people with
the name "Satoshi Nakamoto."
According to coinmarketcap.com as of April 2020, Its over 18 million
bitcoins in circulation with a total market value of around $139 billion.
Since the launched of Bitcoin other cryptocurrencies have also been
launched over the years

8. Bitcoin (2009)
Bitcoin SV (2018)
Ethereum (2015)
Litecoin (2011)
Ripple (2012)
Binance Coin (2017)
Tether (2017)
EOS (2018)
Bitcoin Cash (2017)
Tezos (2018)
TOP 10 CRYPTOCURRENCIES BY MARKET CAPITALIZATION 2020

9. BLOCKCHAIN TECHNOLOGY
Blockchain is a distributed and decentralized ledger that stores
data such as transactions, and it is publicly shared across all the
nodes of its network.
Last hash keeps the last record of the block and the new hash
references the last hash to form a new hash, that’s the
formation of a blockchain.
Blockchain is fair, democratized and public with no central point
of failure.

10. MINING
Mining is the process of mining block on the
blockchain network when there's a
transaction.
The Miner's job is to keep the network
secure and and process transactions by
solving a computational work which is called
a "Proof Of Work".
As a Miner you will need a lot of computing
process power to be able to solve this "Proof
of work". Once its completed the Miner
receives a reward from the transaction

11. Mining Process

12. LEDGER
The Ledger of a blockchain is distributed
and decentralized.
The block chain is a shared public
ledger on which the entire Cryptocurrency
relies.
All confirmed transactions are included in
the block chain.
It allows Cryptocurrency wallets to
calculate their spendable balance so that
new transactions can be verified thereby
ensuring they're actually owned by the
spender.
The integrity and the chronological order
of the block chain are enforced
with cryptography.

13. WALLETS
The public key of your wallet is the address of the wallet.
The private key is used to secure the network.
Balance shows your availabe balance in your Wallet
Wallet are used for storing crypto assets. Just like a normal
wallet but it stores the cryptographic public and private key
for each individual.
Wallet consist of a Balance, Private key and a Public key.

14. Exodus (https://www.exodus.io/)
Coinbase (https://www.coinbase.com/)
Trust (https://trustwallet.com/)
SOME WALLETS

15. CRYPTOCURRENCY EXCHANGE
Just like we have exchange for our normal currencies,
Cryptocurrency exchanges are websites where you can
buy, sell or exchange cryptocurrencies for other digital
currency or traditional currency like US dollars or Euro.

16. Binance (https://www.binance.com/)
Cex.io (https://www.cex.io/)
EXCHANGES

17. DIFFERENCES BETWEEN CRYPTOCURRENCY AND PAYPAL
PayPalCryptocurrency
Centralized LedgerDecentralized Ledger
Pegged to DollarNo Tied to Dollar
Owner of a wallet can
be easily identified
Owner of a wallet is
sudo anonymous
Its back by a contractual
relationship with a
coporation
Backed by Military
grade cryptography,
Not by a contract

18. ADVANTAGES
Cryptocurrencies hold the promise of making it easier to transfer funds
directly between two parties, without the need for a trusted third party like a
bank or credit card company. These transfers are instead secured by the use
of public keys and private keys and different forms of incentive systems,
like Proof of Work or Proof of Stake.

19. DISADVANTAGES
The semi-anonymous nature of cryptocurrency transactions makes them
well-suited for a host of illegal activities, such as money laundering and tax
evasion. However, cryptocurrency advocates often highly value their
anonymity, citing benefits of privacy like protection for whistleblowers or
activists living under repressive governments. Some cryptocurrencies are
more private than others.

20. Binance (https://www.binance.com/)
3commas (https://3commas.io/)
TRADING CRYPTOCURRENCIES

21. People are just getting to know
about cryptocurrency. This is a
great advantage for the
Blockchain technology. Due to the
fact that as more people come to
understand it and use it on a daily
basis , The blockchain network
become stronger and more
secured
CONCLUSION

22. REFERENCES
https://www.investopedia.com
https://coinsutra.com/best-bitcoin-wallets/
https://coinmarketcap.com/

23. STAY IN TOUCH
+971526786710 phexcom@phexcom.tech @phexcom