1. GAYATRI INSTITUTE OF COMPUTER AND MANAGEMENT HINJILICUT (GANJAM)
REPRESENTED BY—
AMISHA MISRA
ISHA KIRAN HOTA
RASMILATA GOUDA
SNIGDHA PARMITA LENKA
guided by ..
k.anil kumar
H.o.d. of gicm

2. contents :- What is cryptocurrency? Bitcoin Blockchain Bitcoin mining
How it works
Advantages of cryptocurrency
Disadvantages of cryptocurrency
Conclusion
Gayatri institute of computer and mangement

3. Gayatri institute of computer and mangement

4. cryptocurrency:- What is cryptocurrency?
CRYPTO-CURRENCY is a form of digital money that is designed to be secure and in a many cases , anonymous.
It is a currency associated with the internet that uses CRYPTOGRAPHY.
The processes of converting legible information into an almost uncrackable code,to track purchases and transfers.
Gayatri institute of computer and mangement

5. Gayatri institute of computer and mangement

6. Bitcoin :-
Bitcoin is the first decentralized digital currency that allows users to transfer money peer to peer with out any intermeditor (banks , government etc..) using block chain technology.
SATOSHI NAKAMOTO , secretive internet user , invented bitcoin in 2008 before it went onlilne in It used SHA-256 a cryptographic hash function as it’s , proof-of-work scheme
Gayatri institute of computer and mangement

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14. Advantages of bitcoin:-
Gayatri institute of computer and mangement

15. Disadvantages of bitcoin:-
Bitcoins are not widely accepted .
Wallets can be lost .
No buyer protection .
Risk of unknown technical flaws.
No physical form.
Gayatri institute of computer and mangement

16. What is blockchain ?
Blockchain is a public distributed ledger in which transactions made in bitcoins or any other digital currency are recorded in a chronological order.
Gayatri institute of computer and mangement

17. what is bitcoin mining ?
Bitcoin mining is the process of verifying bitcoin transactions and recording them onto the public ledger(i.e.,blockchain).
Gayatri institute of computer and mangement

18. Concept of blockchain :-
In order to understand bitcoin mining, we need to understand the 3 major concepts of blockchain:
Distributed Public Ledger
SHA-256
Proof Of Work
Gayatri institute of computer and mangement

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24. To be able to send money , you have to set up a wallet
To be able to send money , you have to set up a wallet .The account similar to a well-known online bank account . You can see your balance , choose an amount you want to transfer enter the recipient’s details and click ‘send’.
After you click ‘send’, a message with your and recipient’s details will be sent to a particular cryptocurrency network. This prevents theft, and previously mentioned , double spending.
If you have an online bank account then you know that before you make a transfer or a payment , you have entered a pin code or use a digital security key. Same things works for cryptocurrency-underneath a message , you have to include your signature. The signature is not based on a handwriting but a mathematical formula .
The math behind a signature comes from the word ‘cryptography’- an art of hiding . Normally used to hide secret messages
Gayatri institute of computer and mangement

25. Advantages of cryptocurrency:-
Peer to peer transaction
Global bitcoin system
Low fees
Private
Fast and easy
secured
Gayatri institute of computer and mangement

26. Disadvantages of cryptocurrency :-
Not accepted everywhere until now
Highly technical/ more advanced technology
Limited supply
once you have done payment you can’t reverse it
Gayatri institute of computer and mangement

27. References :- https://www.simplilearn.com www.blockchain info.com
Coclusion :-
Cryptocurrency has come to stay and bitcoin the way forward to eliminate fist money and go digital with payment system in the world.
Gayatri institute of computer and mangement

28. Thank you !
Gayatri institute of computer and mangement