bitcoin introduction and cryptocurrency intro

1. Introduction
to
Bitcoin &
cryptocurrency
Presented by:
Sai manikanta
Avinash

2. CRYPTOCURRENCY
• Cryptocurrency-A digitalcurrencyinwhichencryptiontechniques (cryptography)are
usedto regulatethegenerationof units of currencyand verifythetransferof funds,
operating independently of a centralbank.
• Thefirstcryptocurrencyto becreatedwas Bitcoinbackin2009. Todaytherearehundreds
of othercryptocurrencies,oftenreferred to asAltcoins

3. What is A
BITCOIN
?
What is
Bitcoin..?

4. • First‘decentralized’digital currency.Theyaredigital coinsyoucansendthroughtheinternet.
• Noonecontrolsit. Bitcoinsaren’t printed, likerupeeor dollars– they’re producedby
• people,andincreasinglybusinesses,running computersall aroundthe world, using
• software that solves mathematicalproblems.
• Ananonymoussoftware developercalledSatoshiNakamotoproposedbitcoin in 2009,which wasan
electronic paymentsystembasedonmathematical proof.Theideawasto produceacurrency
Dependent of anycentral authority,transferable electronically,moreor lessinstantly, with very
low transactionfees.
• Insimplewords,bitcoin isanopensourcesoftware to transfermoney overtheinternet.

5. Decentralized
Currently,weuse FIAT Money
Trust the banks and central authorities with our money. Theyhave
completecontrol overit asto what amount of moneyneedsto be
printed andcirculated.
These central authorities arethe regulating bodiesto whomwehave given
completecontrol of our money!
Bitcoin isthe ideathat wecantakebackpowerandcontrol ofour own
moneyandwecantransactin abetterway.

6. WHO MAKES IT ??
•Noone.Thiscurrencyisn’t physically printed in the shadows by any
• bank.Instead,bitcoin iscreateddigitally,byacommunity of people
•that anyonecanjoin. Theyare‘mined’,usingcomputing power in a
•distributed network. Andthosewho dothis job areknownas
‘miners’.
• Bitcoin isbasedon mathematics.Aroundthe world, peopleareusing
software programsthat follow amathematical formula to produce
bitcoins.Themathematical formula isfreely available,sothat anyone can
checkit. Thesoftware isalsoopensource,meaningthat anyone canlook
atit to makesurethat it doeswhatit issupposedto.

13. CONCLUSION
•Crypto currency is still evolving and despite it’s issues
and challenges
•The Bitcoin Technology platform is definetly leading the
way towards a more seamless digital global economy
•But one day it’s trade is to be collapsed for it’s
circumstances.