Cryptocurrency uses encryption and a peer-to-peer network to generate digital currency and verify transactions on a public ledger called a blockchain. Transactions are recorded on the blockchain through a process called mining, which also creates new coins. Cryptography protects transactions from theft or alteration and verifies users' identities on the decentralized peer-to-peer network without a central authority.

2. Cryptocurrency, a digital currency that uses encryption
(cryptography) to generate money and to verify transactions.
Transactions are added to a public ledger also called Transaction
block chain and new coins are created through a process known as
mining.
• Cryptography
• Peer to peer network
• Decentralized

3. Cryptocurrency, a digital currency that uses encryption
(cryptography) to generate money and to verify transactions.
Transactions are added to a public ledger also called Transaction
block chain and new coins are created through a process known
as mining.

4.  Cryptography involves creating written or generated codes that allow
information to be kept secret. It converts data into a format that is
unreadable for an unauthorized user so, it not only protects data from
theft or alteration but can also be used for authentication.
 Peer to Peer network or decentralized network is a group of
independent computers called nodes which are connected with each
other to share data among each other without the use of a
computer.

5. Thai Baht
(1 Thai Baht = Rs 2.08 )
Bitcoin
(1 Bitcoin = Rs 450,000 )

6. Bitcoin (BTC)
It is the first decentralized cryptocurrency created in 2008 by Satoshi
Nakamoto which went public on 3rd January 2009. This is the most popular
type of cryptocurrency and has steadily begun to rise in popularity and
strength over the years.
December
(2013)
May
(2017)
January
(2009)
Basically
Nothing
July
(2011)
$31
April
(2013)
$266
$1000
$2000
November
(2017)
$7,300
December
(2017)
$17,900

7. Blockchain technology
A Blockchain is a decentralized ledger of facts, replicated across several
computers assembled in a peer to peer network. Facts can be anything
from monetary transactions to content signature. Members of the
network are anonymous individuals called nodes.

8. Hash
Data
Hash of previous block
Bitcoin block Example
From:
To:
Amount:

9. Data
{e2c521bc53bb5db4fc0aa497da2ba5d4c8444db3}

10. Hash of the previous block
Creates the chain !

11. 1 2 3
Hash: 1Z8F
Previous Hash: 0000
Hash: 6BQ1
Previous Hash: 1Z8F
Hash: 1Z8F
Previous Hash: 6BQ1
Genesis Block

12. 1 2 3
Hash: 1Z8F
Previous Hash: 0000
Hash: 6BQ1
Previous Hash: 1Z8F
Hash: 1Z8F
Previous Hash: 6BQ1
H62Y
Invalid

13. Proof - of - work
Slow and steady ……

14. 10 Minutes 10 Minutes
Bitcoin blockchain