Bitcoin Proved to be the thunderbird of making money.

1. INDIRA GANDHI GOVT.
ENGINEERING COLLEGE, SAGAR
BITCOIN AND BEYOND:
EXPLORING THE BLOCKCHAIN
SUBMITTED TO : PRESENTED BY :
MR. R.S. MEENA SHIVAM KUMAR SINGH

2. CRYPTOCURRENCY
CRYPTOCURRENCY

3. ABOUT THIS PRESENTATION
• IN THIS SEMINAR WE WILL LEARN ABOUT THE
FOLLOWING :-
WHAT IS BITCOIN IN BREIF.
WHAT IS BLOCKCHAIN?
WHAT IS DECENTRALIZATION?
HOW BLOCKCHAIN TECHNOLOGY WORKS?
LEGALIZING BITCOIN AND GOVERNMENT
INTERFERENCE.
HOW TO INVEST AND EARN THROUGH BITCOIN?

4. WHAT IS BITCOIN?
• BITCOIN IS A CRYPTOCURRENCY OR TO MAKE
IT EASY, SAY DIGITAL GOLD.
• STATISTICS SAYS THAT THE TOTAL NUMBER OF
BITCOINS PRODUCED WILL BE 21 MILLIONS.
• BITCOIN IS LIKE INTERNET, IT HAS NO ONE
OWNER AND THE ONE WHO PAYS, USES IT.
• IT KEEPS THE ANONYMITY OF ITS OWNERS
AND ALL THE TRANSACTIONS.

5. • EVERY YEAR, THE PRODUCTION OF BITCOIN
GOES HALF; SAY IT WAS 20 BITCOINS LAST
YEAR, THIS YEAR IT WILL BECOME 10 BITCOINS
AND NEXT YEAR 5 BITCOINS AND SO ON.
• BY DOING THIS, ONE DAY BITCOIN WILL
BECOME RARE AND MORE PEOPLE WILL
DEMAND IT.
• YOU DON’T HAVE TO GO AROUND THE GLOBE
PHYSICALLY TO GET BITCOIN, TRUST ME, ITS IN
YOUR POCKETS ALREADY, JUST KNOW IT.
• THIS IS THE BEST CRYPTOCURRENCY AND
EASIEST WAY TO MAKE MONEY.

6. WHAT IS BLOCKCHAIN?
• BLOCKCHAIN IS REVOLUTION OF
DECENTRALIZATION, WHERE EACH
NODE/USER IS THE AUTHORITY OF ITS OWN
TRANSACTIONS AND THERE IS NO
GOVERNMENTAL INTERRUPTION.
• EACH USER IS THE LEDGER OF TRANSACTIONS
HAPPENING IN THEIR RESPECTIVE NETWORKS.
• THEY DON’T REPORT THESE TRANSACTIONS
TO ANYONE ABOVE OR BEYOND.

7. • HENCE ALL THE TRANSACTIONS ARE
AUTHENTICATED BY EVERY SINGLE USER (ALSO
CALLED PROOF OF WORK).
• THIS IS WHY BLOCKCHAIN TECHNOLOGY IS REFERRED
TO AS ‘DISTRIBUTED LEDGER’ TECHNOLOGY, AND
THE BLOCKCHAIN IS CALLED DISTRIBUTED LEDGER.
GLOBE
LEDGER
LEDGER
LEDGER
LEDGER
LEDGER

8. DECENTRALIZATION
• THE WORD DECENTRALIZATION REFERS THAT THE
SYSTEM DOES NOT BELONG TO ANY
GOVERNMENTAL ORGANIZATION OR HAS GOT
ANY INTERFERENCE IN THE SYSTEM.
• THE USERS OF THAT SYSTEM HAS ALL THE
ANONYMITY AND PRIVACY THAT THEY MIGHT
NOT EXPECT FROM ANY SYSTEM.
• AS OFFICIAL INTERFERENCE MIGHT INTRODUCE
NEW TAXES AND TAKE AWAY SOME OF THE
LIABILITIES FROM THE USERS.

9. PROS AND CONS OF DECENTRALIZATION
• SYSTEM IS LIBERAL FROM EVERY
RESTRICTIONS.
• USERS HAVE THEIR INDEPENDENCE OF
WORKING.
• NO REPORTS OF WORK TO BE SUBMITTED.
• YOU ARE BOSS OF YOUR OWN.
• THERE IS A POSSIBILITY THAT BITCOINS ARE
USED FOR PAYMENTS REGARDING DRUGS,
AMMO, SERIAL KILLING, MAFIAS, ETC.

10. LEGALIZING BITCOIN
• INDIAN GOVT. IS GOING TO LEGALIZE BITCOIN AS
THE NO. OF USERS IS EXPONENTIALLY
INCREASING EVERY THEN AND NOW.
• THEY MIGHT IMPOSE TAXES ON SALES AND
PURCHSES OF BITCOIN TO EARN PROFIT.
• GOVT. WILL START USING BITCOIN AS THEIR
CURRENCY AND PEOPLE WILL USE IT TO SHOP
AND EVERY OTHER EXPENDITURE USING BITCOIN
AS WE USE PAYTM AND OTHER APPLICATIONS .

11. BITCOIN MINING
• IT IS THE PROCESS OF ADDING TRANSACTION
RECORDS TO BITCOINS PUBLIC LEDGER OF
PAST TRANSACTIONS.
• THIS PAST TRANSACTION IS CALLED THE
BLOCK CHAIN AS IT IS A CHAIN OF BLOCKS.
• THE BLOCKCHAIN SERVES TO CONFIRM THE
TRANSACTIONS TO THE REST OF THE
NETWORK AS HAVING TAKEN PLACE.

12. TRANSACTIONS MINERS BLOCK
BLOCK PUZZLE
PROOF OF WORK
MINERS
VERIFICATION TRANSACTIONS
MINERS
-10 MINUTES OF TRANSACTIONS ARE
BROADCAST TO ALL MINERS
MINERS SOLVE PUZZLES AND GETS A
PROOF OF WORK
THE SUCCESSFUL MINER BORADCASTS ITS
PROOF OF WORK TO THE OTHER MINERS
MINERS VERIFY THE PROOF OF WORK
MINERS CREATE A BLOCK
MINERS TRY TO
SOLVE THE PUZZLE
PROCESS STARTS
OVER

13. BLOCKCHAIN IS BEST USED WHEN
• THERE IS A SERIES OF TRANSACTIONS/EVENTS.
• THEY NEED TO BE RECORDED.
• THEY NEED TO BE VERIFIED.
• THERE ARE SEVERAL PARTICIPANTS IN THE
SYSTEM.
• TRANSPARENCY IS IMPORTANT.
• DECENTRALIZATION IS IMPORTANT.
• PERMANENCE IS IMPORTANT.

14. NOW I WILL EXPLAIN HOW TO INVEST AND
EARN THROUGH BITCOIN.
ZEBPAY
BLOCKCHAIN
COINBANK
GAINBITCOIN
GROWTHBITCOINFUNDS
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