CRYPTOCURRENCY
CRYPTOCURRENCY
A digital currency in which transactions are verified and records maintained by a decentralized system using
cryptography, rather than by a centralized authority.
History of Crypto Currency
Contents
• What is Cryptocurrency?
• History
• Major Cryptocurrency
• Price Graph
• How to get Some?
• Where Bitcoins are Stored?
• How Bitcoins are Mined?
• Bitcoin Facts
What is Cryptocurrency?
+ + =
A digital currency in which encryption techniques are used to regulate
the generation of units of currency and verify the transfer of funds,
operating independently of a central bank.
History
• On August 18, 2008, an unknown person or entity registered the
[Link] domain.
• On October 31st, 2008, “Bitcoin: A Peer-to-Peer Electronic Cash
System” was posted to a cryptography mailing list, published under
the name “Satoshi Nakamoto”.
• On January 8th, 2009, the first version of Bitcoin is announced, and
shortly thereafter, Bitcoin mining begins.
Major
• Bitcoin:
Cryptocurrencies
• Bitcoin is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments
• Litecoin
• Litecoin is an experimental digital currency that enables instant payments to anyone, anywhere in the world
• Ethereum
• Ethereum is a decentralized, open-source blockchain featuring smart contract functionality. Ether is the native cryptocurrency of
the platform.
• Ripple
• Ripple is a technology that acts as both a crypto currency and a digital payment network for financial transactions.
• Monero
• Monero is a cryptocurrency focused on privacy. Transactions on the Monero blockchain can't be tracked or traced.
• Dash
• Dash is an open source cryptocurrency. It is an altcoin that was forked from the Bitcoin protocol. It is also a decentralized autonomous
organization run by a subset of its users, which are called "masternodes". The currency permits transactions that can be untraceable.
• Zcash: Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin.
Bitcoin Price Index(Jan,2016 – Mar,2018)
Bitcoin Price Index(Jan,2016 – Mar,2018)
HOW TO GET SOME?
Four Ways:
• In Exchange of Virtual Currency
• In Exchange of Products and Services
• In Exchange of other Cryptocurrencies
• By Mining
In Exchange of Physical Currency
In Exchange of Products and Services
In Exchange of other Cryptocurrencies
By Mining
By Mining
WHERE BITCOINS ARE STORED?
Wallet
s
• Hardware Wallets
• Hot Wallets
Hardware Wallets
• TREZOR
• KeepKey
• Ledger Nano S
Hot Wallets
• Green Address
• Breadwallet
• Airbitz
• GreenBits
• Electrum
HOW
BITCOIN
S ARE
MINED?
How Bitcoin Mining Works
Miners use Special Softwares to solve Difficult Mathematical Equations
and issued certain amount of Bitcoins in Exchange.
Using Normal PCs
Using PCs with Graphic Cards
Re-Programmed Chips
Bitcoin
Re-Programming Mining
Chip
ASIC Chips
Application
Specific
Integrated
Circuit Chips
ASIC Chips
Application
POOLED MINING
Specific
Integrated
Circuit Chips
“A mining pool is the pooling of resources by miners, who share their processing power over a network, to split the
reward equally, according to the amount of work they contributed to the probability of finding a block”
Softwares used to mine Bitcoin
• Bitcoin Miner
• BTC Miner
• CG Miner
• Easy Miner
• BFG Miner
Bitcoin Facts
• The first Bitcoin purchase was for pizza.
• Some even suggest that Samsung, Toshiba, Nakamichi, and
Motorola together created Bitcoin.
“Satoshi Nakamoto”:
Samsung and Toshiba — Satoshi
Nakamichi and Motorola —
Nakamoto
• There will only ever be 21 million bitcoins.
THANK Y
U.