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What Is A Cryptocurrency ?

This document provides an overview of cryptocurrency, including definitions, history, and key topics. It defines cryptocurrency as a digital currency secured by cryptography, notes that Bitcoin was the first blockchain-based cryptocurrency created in 2009, and explains that blockchains store transaction data in blocks chained together cryptographically. The document also discusses that while cryptocurrencies offer benefits like reduced fees, their anonymity can enable illegal uses, and digital wallets can be wiped out by hardware loss without backups. Finally, it notes El Salvador became the first country to make Bitcoin legal tender in 2021 and plans a Bitcoin city financed by cryptocurrency.

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Э. Цэнд-Аюуш
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111 views

What Is A Cryptocurrency ?

This document provides an overview of cryptocurrency, including definitions, history, and key topics. It defines cryptocurrency as a digital currency secured by cryptography, notes that Bitcoin was the first blockchain-based cryptocurrency created in 2009, and explains that blockchains store transaction data in blocks chained together cryptographically. The document also discusses that while cryptocurrencies offer benefits like reduced fees, their anonymity can enable illegal uses, and digital wallets can be wiped out by hardware loss without backups. Finally, it notes El Salvador became the first country to make Bitcoin legal tender in 2021 and plans a Bitcoin city financed by cryptocurrency.

Uploaded by

Э. Цэнд-Аюуш
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 13

What is a

cryptocurrency ?
Content

01 Definition
02 History
03 Blockchain

Are cryptocurrency
Bitcoin legal? Conclusion
04 05 06
Definition

A cryptocurrency is a digital or virtual


currency that is secured by cryptography,
which makes it nearly impossible to
counterfeit or double-spend. Unlike
physical money, cryptocurrencies are
decentralized, which means they are not
issued by governments or other financial
institutions.
History
David Chaum
 He is known as a pioneer in cryptography and privacy-preserving
technologies, and widely recognized as the inventor of digital cash
 In 1995 his company DigiCash created the first digital currency
with eCash.

Satoshi Nakamoto
 Satoshi Nakamoto is the name used by the presumed
pseudonymous person or persons who developed bitcoin, authored
the bitcoin whitepaper, and created and deployed bitcoin's original
reference implementation.

 On 9 January 2009, Nakamoto released version 0.1 of the bitcoin


software on SourceForge,
What Is a Blockchain?

 Blockchains store data in blocks that are then linked


together via cryptography.
 Once the block is filled with data, it is chained onto
the previous block, which makes the data chained
together in chronological order.
 The innovation with a blockchain is that it guarantees
the fidelity and security of a record of data and
generates trust without the need for a trusted third
party.
Bitcoin

 Bitcoin is also the most successful of hundreds of


attempts to create virtual money through the use of
cryptography.The first blockchain-based
cryptocurrency was Bitcoin, which still remains the
most popular and most valuable.

 Altcoin-The term altcoin refers to cryptocurrencies


other than Bitcoin
Advantages and Disadvantages of Cryptocurrency

Advantages Disadvantages

Cryptocurrencies hold the promise of making it easier to The semi-anonymous nature of cryptocurrency
transfer funds directly between two parties, without the transactions makes them well-suited for a host of illegal
need for a trusted third party like a bank . activities, such as money laundering and tax evasion.

Fund transfers are completed with minimal processing Cryptocurrencies are virtual and are not stored on a central
fees, allowing users to avoid the steep fees charged by database, a digital cryptocurrency balance can be wiped
banks and financial institutions for wire transfers. out by the loss or destruction of a hard drive if a backup
copy of the private key does not exist.
There is no central authority, government, or corporation
that has access to your funds or your personal
information.
Market
Cryptocurrency Capitalization

Bitcoin $930 billion


The global crypto market cap is Ethereum $492 billion
$2.31T.
Best cryptocurrencies by market Binance Coin $93 billion

capitalization. These are the 10


Tether $75 billion
largest trading cryptocurrencies by
Solana $58 billion
market capitalization as tracked by
Cardano $44 billion
CoinMarketCap, a cryptocurrency
data and analytics provider. USD coin $40 billion
XRB $38 billion
Polkadot $27 billion
Terra $26 billion

According to CoinMarketCap, the total number of


cryptocurrencies is 7,939
Are cryptocurrency legal?

The Bitcoin Law was passed by the Legislative Assembly of El


Salvador on 8 June 2021, giving the cryptocurrency bitcoin the
status of legal tender within El Salvador after 7 September 2021.

At the time, the government released a new digital wallet app,


giving away $30 (£22) in Bitcoin to every citizen.

El Salvador was the first country to use bitcoin as a


legal tender
Bitcoin city, El salvador
El Salvador plans to build a bitcoin Bitcoin city planned in the would
city on the base of the volcano and get geothermal power from a
will use cryptocurrency to finance the volcano and not levy any taxes
project, the president said. except for value-added tax (VAT).

The city will be circular to represent


the shape of a large coin
Conclusion

Economy is a zero-sum game. Because when one


loses money, the other wins. Also, the higher the
return on any financial instrument, the higher the
risk. So if you are going to invest in a
cryptocurrency, invest the money you can lose.
Source:

● https://www.investopedia.com/terms/b/blockchain.asp
● https://en.wikipedia.org/wiki/Cryptocurrency
● https://en.wikipedia.org/wiki/Bitcoin
● https://lemonpress.mn/news/mongol_coinuud/?fbclid=IwAR2AmDxjjFgYrCq2OkI9k
z_QsiH58sK6qUps5ySRwdvvccQsUZ61cDYxoJA
● https://coinmarketcap.com/
Thank you
for your
attention

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