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Cryptocurrency

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Cryptocurrency
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A cryptocurrency 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.

A cryptocurrency 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.

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Cryptocurrency

  1. 1. Prepared by :- TANMAY MODI 1
  2. 2. Contents S.No. Topic Slide No. 1 What is Cryptocurrency? 3 2 Conventional vs Digital Currency 4-5 3 Why use Cryptocurrency? 6 4 Risks 7 5 Types of Cryptocurrency 8 6 LITECOIN 9 7 BITCOIN 10 8 ETHEREUM 11 9 ZCASH 12 10 PEERCOIN 13 11 WORLDCOIN 14 12 MONERO 15 13 Conclusion 16 2
  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. 3
  4. 4. Conventional vs Digital Currency 4
  5. 5. Conventional vs Digital Currency 5
  6. 6. Why use Cryptocurrency? 6
  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. 7
  8. 8. Types of Cryptocurrency 8
  9. 9. Plural Litecoin Symbol Ł Original author(s) Charlie LeeInitial Release 7 October 2011 6 years ago Circulating supply 54,535,183 LTC (29 December 2017) Supply limit 84,000,000 LTC Valuation Market cap $6.8 billion USD (2 February 2018) 1 LTC =$144.21038(9 February 2018) 9
  10. 10. • 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
  11. 11. Launched 2015, During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. The applications on Ethereum are run on its platform-specific cryptographic token. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $41.4 billion, second after Bitcoin among all cryptocurrencies. 11 1 ETH = $ 796.18296 (9 FEBUARY 2018)
  12. 12. Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https," is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. 12 1 ZCASH = $ 411.68167 (9 FEBURY 2018
  13. 13. 13 • Increased security via Proof-of-work + proof-of-stake hybrid algorithm • Energy efficiency - generating proof-of- stake blocks • Current market cap - $116 million • 1 PPC = $ 3.3538886 (9 FEBUARY 2018)
  14. 14. 14 • Faster transaction time – 30 sec (over 20 x faster that Bitcoin) • 1% reward reduction weekly, encouraging quicker adoption • 1 hour, maximum 10% difficulty retargeting to prevent pool abuse • Market cap - $24.5 million • 1 WDC = $ 0.01471885 (9 FEBUARY 2018)
  15. 15. Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April 2014 and soon spiked great interest among the cryptography community and enthusiasts. Monero has been launched with a strong focus on decentralization and scalability, and enables complete privacy by using a special technique called ‘ring signatures’. 1 ZMR =$ 238.35396(9 FEBUARY 2018) 15
  16. 16. 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. 16
  17. 17. 17

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