Cryptocurrency

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1. Cryptocurrency Under the guidance of Dr. R. Deeptha Assistant Professor, IT (Department of Information Technology) SRM Institute of Science and Technology, Ramapuram Campus DEPARTMENT OF INFORMATION TECHNOLOGY Department of Information Technology 18CSP106L – SEMINAR II TARUN-RA2011008020111

2. Cryptocurrency

3. Introduction Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions. Despite its volatility , the global market is increasingly recognizing its potential. This presentation will provide an overview of the opportunities and challenges of this emerging technology .

4. What is Cryptocurrency? A cryptocurrency is a digital or virtual currency that uses cryptography for security. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. They are also immutable and transparent, making them ideal for financial transactions. The most well- known cryptocurrency is Bitcoin , but there are thousands of others.

5. How Cryptocurrencies Work? Cryptocurrencies use a decentralized system called blockchain, which is a digital ledger that records transactions across a network of computers. Each block in the chain contains several transactions, and once a block is completed, it is added to the chain and cannot be altered. Cryptocurrencies are verified and secured through complex algorithms and cryptography.

6. The Rise of Cryptocurrency: An Overview of Opportunities and Challenges in the Global Market

7. The Rise of Cryptocurrencies Cryptocurrencies are digital or virtual currencies that use cryptography for security. Bitcoin is the first decentralized cryptocurrency, created in 2009. Since then, many other cryptocurrencies have emerged. Cryptocurrencies are disrupting traditional financial systems and are changing the way we think about money.

8. Benefits of Cryptocurrencies Cryptocurrencies offer many benefits, such as lower transaction fees, faster international transactions, increased privacy, and protection against fraud. They also allow for decentralized finance (DeFi) and provide opportunities for investment and trading. Cryptocurrencies have the potential to provide financial access to unbanked populations around the world.

9. Advantages of Cryptocurrency Cryptocurrencies offer several advantages over traditional currency. They are decentralized , meaning they are not subject to government control. They also offer lower transaction fees and fast transactions . Additionally, they are secure, transparent, and immutable .

10. Challenges of Cryptocurrency Despite their advantages, cryptocurrencies face several challenges. They are volatile and subject to speculation . They are also not widely accepted as a form of payment, and there are concerns about their regulation . Additionally, they are vulnerable to hacking and fraud.

11. Challenges of Cryptocurrencies Cryptocurrencies face challenges such as regulation, volatility, scalability, and adoption. The lack of regulation in the cryptocurrency market has led to illegal activities and scams. The value of cryptocurrencies can also fluctuate greatly, making them risky investments. The scalability of blockchain technology is still being developed, and the adoption of cryptocurrencies is not yet widespread.

12. Global Adoption of Cryptocurrency Cryptocurrencies are gaining traction globally. Some countries, such as El Salvador , have even adopted them as legal tender. Major companies such as Tesla and PayPal are also accepting cryptocurrencies as payment. However, regulatory hurdles remain a challenge.

13. Future of Cryptocurrencies The future of cryptocurrencies is promising, as they continue to gain mainstream acceptance and adoption. Many companies and institutions are exploring the use of cryptocurrencies and blockchain technology. Cryptocurrencies may also play a role in the development of central bank digital currencies (CBDCs). The potential for innovation and growth in the cryptocurrency market is vast.

14. Conclusion Cryptocurrencies offer several advantages over traditional currency, but also face significant challenges. As the global market continues to recognize their potential, it is important to carefully consider their implications for financial transactions. Cryptocurrencies may represent the future of finance, but their success depends on overcoming challenges such as volatility , regulation , and adoption .

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