1. BITCOIN-an innovativeBITCOIN-an innovative
payment networkpayment network
Shailaja Sampat (131046)
Rajvi Trivedi (131039)
Manthan Shah (131025)

2. What is BITCOIN ?What is BITCOIN ?
 Bitcoin is a payment gateway with digital
wallet.
 Bitcoin Foundation standardizes, protects
and promotes the Bitcoin cryptographic
currency worldwide.
 Bitcoin is an open source software. This
source can be reviewed by anyone.
 Bitcoin is decentralized electronic cash
system.
 Payment gateway : e-commerce service provider
 Cryptography : Process of analyzing protocols
necessary for information security.

3. About BITCOINAbout BITCOIN
 The original Bitcoin software
was developed by Satoshi
Nakamoto-a Japanese
programmer.
 It was founded by Bitcoin core
developers in 2008.
 Bitcoin is first decentralized
digital currency .
 It is useful for transaction of
money in any country because
it provides money transfer
system in Dollars, Euros, Yens,
Rupees etc.

4. How to use BITCOIN ?How to use BITCOIN ?
 We can use this software by
downloading “BITCOIN Miner”
application on our mobile phone
or computer.
 We can use bitcoins got form
application stored in your digital
wallet.
 We can purchase video games ,
gifts ,books and can transfer
money to anyone.

5. Governance of BITCOINGovernance of BITCOIN
 Bitcoin's governance structure is splitted by class.
The Board is currently structured with five seats.
 Two seats by Individual member class.
Two seats by Corporate member class.
One seat by Founding member class.
 Governance committee members are selected by
general elections.
 Board seats are held for a two-year term.

6. Objectives of BITCOINObjectives of BITCOIN
 There are three main
objectives :
1. Instant peer-to-peer
transactions
2. Worldwide
payments
3. Zero or low
processing fees

7. Missions of BitcoinMissions of Bitcoin
Inform users to protect them from common
mistakes.
Give an accurate description of Bitcoin properties,
potential uses and limitations.
Display transparent alerts and events regarding the
Bitcoin network.
Invite talented people to develop Bitcoin at many
levels.
Provide visibility to Bitcoin ecosystem.
Improve Bitcoin worldwide accessibility.
Aim to advance standards and security
To remain strong advocates of the liberating
power of decentralized money

8. Workflow of BitcoinWorkflow of Bitcoin
 The block chain contains shared
public transaction log. Transactions
are verified that spending bitcoins
are actually owned by the spender.
 A transaction is a transfer of
amount between Bitcoin
addresses that gets included in block
chain. It contains a secret “private
key” as a proof of addressee.
 Transactions are broadcast between
users and confirmed by the network
is called mining.

9. Benefits of BitcoinBenefits of Bitcoin
Payment without going to bank
Free acceptance
No fee
No charge-backs
Simple form for transaction
Digital signature , verification
Transactions can be received at any time,
regardless of whether your computer is
turned on or off.
The first neutral global currency

10. Disadvantages of BitcoinDisadvantages of Bitcoin
Volatile price
Payments are irreversible
Non anonymous system
(All transactions are stored publicly
and permanently on the network,
so anyone can see transactions of
any Bitcoin address.)
 Less secure transactions
Taxes are applicable
No central authority

11. ReferencesReferences
 https://www.google.co.in/search?
hl=en&site=imghp&tbm=isch&source=hp&biw=1366&bi
h=633&q=bitcoin&oq=bitcoin&gs_l=img.3..0.2749.7911.
0.8438.30.15.0.4.4.4.122.1033.8j6.14.0....0...1ac.1.26.img..
16.14.653.vQUPLzT4DI8
 https://bitcoinfoundation.org/about/governance
 https://bitcoinfoundation.org/about/
 http://en.wikipedia.org/wiki/Bitcoin
 https://bitcoinfoundation.org/
 https://www.mtgox.com/
 https://en.bitcoin.it/wiki/Main_Page

12. THANK YOUTHANK YOU