CRYPTOCURRENCY

Presented by:
Pradeep Kumar Diwakar
Yogesh Kumar Jeengar
Chandrapal Singh Solanki
Shubhanshu Bansal
Uday Ojha
Narendra Jaluthuria

BMT Presentation
 Conventional/fiat Currency

Fiat currency is “legal tender” backed by a “central

government.” It can take the form of physical dollars, or it
can be represented by bank credit or bonds. The
government controls the supply and you can pay your taxes
with it.
 Cryptocurrency

A cryptocurrency (or crypto currency) is a

digital asset designed to work as a
medium of exchange that uses strong
cryptography to secure financial
transactions, control the creation of
additional units, and verify the transfer of
assets. Some famous examples are Bitcoin
and Litecoin
Conventional Vs Digital Currency
 Benefits of Cyptocurrency

Cryptocurrency has low transaction costs compared to other

digital payment methods like PayPal.
Through the process of mining (securing cryptocurrency
transactions) anyone with access to a computer and the
internet can make money mining coins.
Since the cryptocurrency market is volatile it can be a high
reward (albeit high risk) investment.
Cryptocurrency is decentralized, meaning it can’t be deflated or
inflated due to the choices of a central government.
 Risks of Cryptocurrency

If something goes wrong with a transaction or if a coin is lost there

is no way to recover it. If someone does steal coins there is no way
to rectify the issue.
o ...
•Asset Transfers. ...
There is no way •More
to recover coins if they are lost and there is no
Confidential Transactions. ...
•Transaction F
system in place to protect the value of your coin.
Any given cryptocurrency lacks the flexibility of centralized
currency due to its non-inflationary nature.
Cryptocurrency is only accepted by certain vendors. Between
that and fluctuating prices the money saved in transaction costs
could be negligible.
 Types of Cryptocurrency- Bitcoin

Lets start with Bitcoin. The first cryptocurrency to emerge was

Bitcoin (BTC), it is based on the SHA-256 algorithm. This digital
commodity was conceptualized at a whitepaper written in 2009 by a
pseudonymous writer who went by the name Satoshi Nakamoto.
Over the span Bitcoin’s first four decades, the market cost of one
Bitcoin has shrunk from under $0.01USD to over $250USD. The
highly volatile cost has generated Bitcoin an attractive investment
choice for dealers trying to profit from market speculation, while at
the exact same time the industry volatility has made long term
investors and daily users hesitant to participate for lengthy amounts
of time.
 Litecoin

Litecoin, launched in 2011, was among the initial

cryptocurrencies following bitcoin and has often been
referred to as “silver to bitcoin’s gold.” It was created
by Charlie Lee, an MIT graduate, and former Google
engineer. Litecoin is based on an open-source global
payment network that is not controlled by any central
authority and uses "scrypt" as a proof of work, which
can be decoded with the help of CPUs of consumer-
grade. Although Litecoin is like bitcoin in many ways, it
has a faster block generation rate and hence offers a
faster transaction confirmation.
 Some more examples

Ethereum (ETH)
Zcash
Ripple
Monero
Dash