Crypto currency

Digital Currency
 What is Crypto Currency

 What is cryptocurrency? A cryptocurrency is a

digital currency, which is an alternative form
of payment created using encryption
algorithms. The use of encryption technologies
means that cryptocurrencies function both as a
currency and as a virtual accounting system.
 Why Use Crypto Currency

 A cryptocurrency (or “crypto”) is a digital

currency that can be used to buy goods and
services, but uses an online ledger with strong
cryptography to secure online transactions. Much
of the interest in these unregulated currencies is
to trade for profit, with speculators at times
driving prices skyward.
 Types Of Cryptocurrency

 Ethereum
Ethereum is a decentralized blockchain
platform that establishes a peer-to-peer
network that securely executes and verifies
application code, called smart contracts. Smart
contracts allow participants to transact with each
other without a trusted central authority.
 Types Of Cryptocurrency
BitCoin
Bitcoin (BTC) is a cryptocurrency, a
virtual currency designed to act as money
and a form of payment outside the control
of any one person, group, or entity, thus
removing the need for third-party
involvement in financial transactions.
 Types Of Cryptocurrency
Tether
Tether (USDT) is a cryptocurrency  stablecoin
 pegged to the U.S. dollar and backed "100% by
Tether's reserves," according its website.1 Tether
is owned by iFinex, the Hong Kong-registered
company that also owns the crypto exchange
BitFinex.
 Types Of Cryptocurrency

LiteCoin
Litecoin (LTC) is an alternative cryptocurrency created in October
2011 by Charles "Charlie" Lee, a former Google engineer. Litecoin
was adapted from Bitcoin's open-source code but with several
modifications. Like Bitcoin, Litecoin is based on an open-source
global payment network that is not controlled by any central
authority. Litecoin differs from Bitcoin in aspects like faster block
generation rate and use of Scrypt as a proof of work scheme.
Mining Crypto
Cryptocurrencies (which are completely digital)
are generated through a process called “mining”.
This is a complex process. Basically, miners are
required to solve certain mathematical puzzles over
specially equipped computer systems to be
rewarded with bitcoins in exchange. 
In an ideal world, it would take a person just 10
minutes to mine one bitcoin, but in reality, the
process takes an estimated 30 days.
 Advantages Of Crypto
They are private and secure: The blockchain technology that fuels
cryptocurrencies ensures user anonymity. It also assures high levels of security
through cryptography, which we discussed before.

They are decentralized, immutable, and transparent: The

entire system functions on shared ownership, where data is available to all
permissioned members and is tamper-proof.

They are a hedge against inflation: Cryptocurrency makes for a

great investment in times of inflation. For example, investors often compare
cryptocurrency to gold. One of the reasons behind this is that, just like gold,
they are in limited supply, as there is a cap on mining any type of
cryptocurrency. 
 Disadvantages Of Crypto
They are not widely understood: They are a relatively new concept
and the long-term sustainability of cryptocurrencies remains to be seen.

They are prone to high risks: Needless to say, cryptocurrencies bring

in as many rewards as risks. Their highly volatile and speculative nature makes
them prone to sharp downward spirals. Investing in cryptocurrency can be risky
for many reasons. 

Scalability is a problem: This is a complex issue, which has more to do

with the technology side of the blockchain. Simply put, the sluggish nature of the
blockchain makes it prone to transactional delays. This has the tendency to make
crypto payments inefficient when compared to modern-day electronic payment
techniques.