cryptocurrencies and bitcoins

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CRYPTO

CURRENCYKUMARSHUBHAMB-TechIV yr.InformationTechnology1200115052

When I talk to my family, crypto, james bond, secret communication.Currency is money, why the relationship? Cryptography allows to do apparently impossible things in the digital world. Physics limits us IRL, cryptography (computaional hardness) limits us in the digital life.1

CONTENTSWHAT IS CRYPTOCURRENCYMAJOR CRYPTOCURRENCIESWHAT ARE BITCOINSWHAT IT IS BASED ON ?HOW TO OBTAIN BITCOIN ?LITECOINPEERCOINNAMECOIN

WORLDCOINOTHER MAJOR CRYPTOCURRENCIESLEGALITY OF BITCOINS IN WORLD

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It is the medium of exchange for goods and services on internet. Unlike the our hard cash it is impossible to touch and feel this.

What is Crypto-currency ?

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Major Crypto-currencies

BitcoinLitecoinPeercoinNamecoinMegacoinQuarkcoinProtosharesWorldcoinPrimecoinFeathercoinNxtNovacoinFreicoinAnoncoinTerracoinCryptogenic-BullionInfinitecoinZetacoinBBQCoinStablecoin

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How can one obtain cryptocurrencies?

Earn Bitcoins from miningEarn Bitcoins by accepting them as a means of payment Earn Bitcoins trough tradingEarn Bitcoins as a regular income Earn Bitcoin from interest paymentsVarious ways (donations, gambling, getting tipped, completing tasks on websites...)

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BITCOIN-BTC Bitcoin is software-based online payment system described by Satoshi Nakamoto in 2008. And introduce as open-source software in 2009.

It is a form of digital currency (physical form is absent), created and held electronically. It is used to buy things electronically and in that sense it is no different than conventional currency.

Payments are recorded in a public ledger using its own unit of account (Bitcoin).

Bitcoin is commonly referred to as cryptocurrency and it can be divided into smaller unit called Satoshi.

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Features of BTCBitcoin has several features that set it apart from fiat currencies:It is decentralizedIt is easy to set up and it is fastIt is anonymousIt is completely transparent

Transaction fees are minisculeTransactions are irreversible

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Litecoin

Based on Bitcoin protocolCan be efficiently mined on consumer grade hardwareFaster transaction confirmations (2.5min on average)Proof-of-stake in addition to proof-of-workScheduled to produce 84 million currency unitsCurrent market cap - $867 million

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Peercoin

Increased security via Proof-of-work + proof-of-stake hybrid algorithm

Energy efficiency - generating proof-of-stake blocks

Current market cap - $116 million

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NAMECOIN - NMCKey/Value registration and transfer systemBased on Bitcoin technologyAllows you to:Securely register and transfer arbitrary names (keys)Attach value (data) to the namesTrade and transact namecoins

Use cases:Time stampingBonds, sharesVoting / Web of TrustMarket cap - $62 million

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WORLDCOINFaster transaction time 30 sec (over 20 x faster than Bitcoin)1% reward reduction weekly, encouraging quicker adoptionMarket cap - $24.5 million

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OTHER MAJOR CRYPTOCURRENCIES

QUARKUses nine rounds of secure hashing from six different algorithmsExtra secureMarket cap - $30 million

PRIMECOINCryptocurrency with Prime Number Proof- Of-WorkFirst currency to have non-hashcash proof-of-workMarket cap - $16.9 million

FEATHERCOINMarket Cap - $15.9 million

MEGACOINRestricted to 42 millionMarket cap - $26 million

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LEGALITY OF BITCOINS IN DIFFERENT COUNTRIES

PERMISSIVE CONTENTIOUS HOSTILE UNKNOWN

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THANK YOU !!QUERIES ??

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