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Introduction to Cryptocurrency Basics

This document provides an overview of a MOOC seminar on cryptocurrency that the submitter completed over 4 weeks. It defines cryptocurrency as a digital currency that uses cryptography and a decentralized network instead of a central authority. The document discusses the advantages of cryptocurrency like protection from inflation and cost-effective transactions, as well as disadvantages like risk of hacks and data loss. It also outlines key concepts in cryptocurrency like blockchain technology, which acts as a distributed ledger, cryptography for secure communications, and mining to verify transactions and generate new coins. Finally, it briefly describes some major cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple.

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Abhi Nav
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109 views11 pages

Introduction to Cryptocurrency Basics

This document provides an overview of a MOOC seminar on cryptocurrency that the submitter completed over 4 weeks. It defines cryptocurrency as a digital currency that uses cryptography and a decentralized network instead of a central authority. The document discusses the advantages of cryptocurrency like protection from inflation and cost-effective transactions, as well as disadvantages like risk of hacks and data loss. It also outlines key concepts in cryptocurrency like blockchain technology, which acts as a distributed ledger, cryptography for secure communications, and mining to verify transactions and generate new coins. Finally, it briefly describes some major cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple.

Uploaded by

Abhi Nav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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MOOC SEMINAR PPT

On
Cryptocurrency: An Introduction to its
Origin & Mechanics

Submitted To : Mr. Janmeyjay Pant Submitted By : Devendar Singh


ABOUT THE COURSE
 Date of registration : 8/4/22

 Date of completion : 15/5/22

 Duration of course : 4 weeks

 Site : www.alison.com
CONFIRMATION MAIL
What is Crypto Currency ?

A cryptocurrency, crypto-currency, crypto, or coin is
a digital currency designed to work as a 
medium of exchange through a computer network
 that is not reliant on any central authority, such as
a government or bank, to uphold or maintain it.
Advantages of Cryptocurrency
• Protection from inflation
• Cost-effective mode of transaction
•  Secure and private
•  Easy transfer of funds
• Currency exchanges finish smoothly
Disadvantages of Cryptocurrency

• Risk of Data Loss


• Susceptible to hacks
• No refund or cancellation policy
• Some coins not available in other fiat currencies
• Can be used for illegal transactions 
Blockchain
A blockchain is a distributed database that is shared
among the nodes of a computer network. As a
database, a blockchain stores information
electronically in digital format. Blockchains are best
known for their crucial role in cryptocurrency
systems, such as Bitcoin, for maintaining a secure
and decentralized record of transactions. 
Cryptography
Cryptography is the study of secure
communications techniques that allow only
the sender and intended recipient of a
message to view its contents. The term is
derived from the Greek word kryptos, which
means hidden.
Mining
The method by which Bitcoin and other
cryptocurrencies are generated and the transactions
involving new coins are verified is known as mining.
It entails massive, decentralised networks of
computers all over the world that verify and
safeguard blockchains, which are virtual ledgers that
record crypto transactions.
Types of Cryptocurrency
• Bitcoin:
Founded in 2009, Bitcoin was the first cryptocurrency and is still the most commonly traded.
The currency was developed by Satoshi Nakamoto – widely believed to be a pseudonym for an
individual or group of people whose precise identity remains unknown.
• Ethereum:
Developed in 2015, Ethereum is a blockchain platform with its own cryptocurrency, called
Ether (ETH) or Ethereum. It is the most popular cryptocurrency after Bitcoin.
• Litecoin:
This currency is most similar to bitcoin but has moved more quickly to develop new
innovations, including faster payments and processes to allow more transactions.
• Ripple:
Ripple is a distributed ledger system that was founded in 2012. Ripple can be used to track
different kinds of transactions, not just cryptocurrency. The company behind it has worked
with various banks and financial institutions.

• Non-Bitcoin cryptocurrencies are collectively known as “altcoins” to distinguish them from


the original.
THANK YOU….

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