WHAT IS Cryptocurrency A uthor: Maksim Sidorenko

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1. WHAT IS Cryptocurrency A uthor: Maksim Sidorenko
2. Cryptocurrency is a form of digital money,
3. How Do Cryptocurrencies Work?Alice’s Puplic addressAlice’s Private keyBob’s Puplic addressBob’s Private key
4. How Do Mining Works?Time
5. Access To Everyone: Anyone can become a
6. Pseudonimity: Cryptocurrency doesn’t operate with personal data
7. Immutability: Proof-of-work also ensures that no one
8. Thanks for attention
9. Скачать презентанцию

Cryptocurrency is a form of digital money, created in a shape of open-source, transparent and decentralised peer-to-peer network. It is mathematically secure by cryptography. Self-regulated system, operating as a protocol of

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WHAT IS Cryptocurrency A uthor: Maksim Sidorenko

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Слайд 1WHAT IS
Cryptocurrency
Author: Maksim Sidorenko

Слайд 2Cryptocurrency is a form of digital money, created in a

shape of open-source, transparent and decentralised peer-to-peer network. It is

mathematically secure by cryptography. Self-regulated system, operating as a protocol of the internet, which doesn’t appeal to an authority or any third party

Cryptocurrency

Слайд 3How Do Cryptocurrencies Work?

Alice’s Puplic address

Alice’s Private key
Bob’s Puplic address

Bob’s

Private key

Слайд 4How Do Mining Works?

Time

Слайд 5Access To Everyone: Anyone can become a user for free.

There’s no barriers to enter or exit the space. There

are 2.2 million people with access to the internet who still do not have access to traditional finance.
Borderless: Сryptocurrencies are born and operate on the internet. Thus it doesn’t recognize borders, countries of people. It recognizes the code.
Instant: Comparing to traditional wire transfer, transaction in cryptocurrency takes way less time to be validated and recorded on chain. It’s a matter of minutes instead of days.
Peer-to-Peer: Cryptocurrencies operates with no third-party involved as bank, company or government. It transfers funds directly from person A to person B

Advantages

Access To Everyone: Anyone can become a user for free. There’s no barriers to enter or exit

Слайд 6Pseudonimity: Cryptocurrency doesn’t operate with personal data ex. name, address,

bank account. It operates with addresses, which can be generated

easily by anyone in any amount. Currently it is extremely hard to connect the address with real identity. But it is not impossible
Transparency: Decentralized ledger contains all the balances and transactions made since the very first “genesis” block. Any funds can be tracked back to the block which created it.
Security: Cryptocurrency uses Proof-of-work consensus algorithm to ensure security of the ledger. No one can create coins out of thin air or double spend existing coins

Advantages

Pseudonimity: Cryptocurrency doesn’t operate with personal data ex. name, address, bank account. It operates with addresses, which

Слайд 7Immutability: Proof-of-work also ensures that no one can change past

the entries in a ledger. All transactions are irreversible and

since it enters the ledger – it is there forever.
Sensorship resistance: Cryptocurrency is not a company, not a person or any other entity. It is a protocol on the internet. Thus destroying cryptocurrency as a thing is as impossible as destroying the internet itself.
Issuing mechanism: New coins are created according by very strict rules in the very basis of the code and cannot be changed. Coins are issued in very predictable way. No one can inflate cryptocurrency by creating unlimited amount of if, as some governments do with their national currency

Advantages