Dr.

Virendra Swarup Institute of

Computer Studies

Presentation on Cryptocurrency
By students of MCA

o Mansi Nishad o Meenakshi

o Mohd Faraj Ansari
o Mimansa o Faraj Khan
 OUTLINES
 What is cryptocurrency ?

 Why its started ?

 Some major cryptocurrency ?

 How its works?

 Cryptocurrency effect in India

 Benefits of cryptocurrency

 Drawbacks
 What is cryptocurrency?
 Crypto is digital money created from code.

 The Cryptocurrency economy is monitored by a peer-to

peer internet protocol .
 Cryptocurrency is an encrypted string of data or a hash,
encoded to signify one unit of currency .

 Cryptocurrency started in 2009 by Satoshi Nakamoto .

 First cryptocurrency was Bitcoin public 8 Jan 2009.

Why its started? In 2008, Satoshi Nakamoto
published a paper. It outlined a
system for creating a digital
currency that didn’t require trust
in any third party. Satoshi
Nakamoto’s paper practically
launched the cryptocurrency
revolution.
 Some major cryptocurrency?

BitCoin Ethereum Litecoin

Bitcoin is the first Ethereum was initially Tether, originally named
cryptocurrency described in late 2013 in "Realcoin", was
introduced in market 18 a white paper by announced in July 2014 by
august 2008 by Satoshi Vitalik Buterin, its co-founders Brock
Nakamoto . Its starting starting price was under Pierce, Reeve Collins,
price was 0.09$. its 1 $. Its current price is and Craig Sellars as a
current price is 1208.41$.its highest Santa Monica based
16974.10$. Highest price was 4891.70 $. startup. Its started with 1$.
price was 68789.63$. Its current price 68.44$.
 How its works?
 Transaction -> A request to transfer cryptocurrency from one wallet to
another (a transaction ) is sent and verified on the network by miners.

 Verification -> Verification of transactions by network of

computers using algorithms is called consensus

 Block creation -> Verified transactions are combined into blocks

and added to a public, decentralized blockchain database

 Mining -> The process of verifying transactions and adding them to the blockchain
is called mining. Miners use computers to solve complex math problems and are
rewarded with cryptocurrency for their efforts
 Cryptocurrency effect in India
 RBI issued a circular in 2018 prohibiting all banks from dealing in
cryptocurrencies. In May 2020, the Supreme Court ruled that this
circular was unconstitutional.
 government recently announced. a bill, Cryptocurrency, and
Regulation of Official Digital Currency Bill. to create a sovereign
digital currency while simultaneously prohibiting all private
cryptocurrencies.

 Indian youth has invested hugely in cryptocurrency, a new crypto

community has emerged

 But in the era of digital currency, those who are not able to afford
technology are devoid of such digital currency
 Benefits of crytocurrency
 Easy to foreign transaction without high transfer charges .

 Cryptocurrency make transfer fast as compare to bank in foreign

transfer .
 Many people using cryptocurrency as an investment getting good
returns .

 Many Countries using cryptocurrency widely in their country as a

investment and exchange goods and services.

 Many Countries using cryptocurrency widely and make it legal in

their country. Ex- Denmark , France , Ireland etc. .
 Drawbacks
 Cryptocurrency payment do not come with legal protections.

 Time complexity in transaction. It take 10-15 min in a transaction .

 Cryptocurrencies aren’t backed by a government or central bank .

 If you store your cryptocurrency online, you didn’t have the same
protection as bank account .

 Cryptocurrency used in money laundering .

 Cryptocurrency used in dark web to buy illegal drugs and
weapons .
 Any one can make cryptocurrency , so the chance of scam is
very high. .
 Conclusion

Cryptocurrency is a digital asset that uses cryptography for security

and operates on a decentralized network. It offers a new form of
payment and has the potential to disrupt traditional financial systems.
However, it is still a relatively new and volatile technology, and its
long-term adoption and stability remain uncertain.
THANK YOU!