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Cryptocurrency
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 opportunities and challenges of this emerging technology. WHAT IS CRYPTOCURRENCY A cryptocurrency is a digital or virtual currency that uses cryptocurrency 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. How Cryptocurrency Works ?
Cryptocurrncies use a decentralized system called
blockchain,which a digital ledger that records transactions across a network of computers. Each Our logo 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 the verified and secured through complex algorithms and cryptography Advantages
Decentralization Transaction fees
Eliminate need for They typically involve intermediaries, like banks lower fees compared to which can reduce traditional financial transaction fees systems.
Security Faster Transaction
Cryptocurrencies use Cryptocurrency transactions can be cryptographic techniques to processed much faster compared to secure transactions and traditional banking systems, which control the creation of new often involve intermediaries and units delays Challenges of Cryptocurrency
● Cryptocurrencies faces 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 fluctuates greatly , making them risky. Investments ● The scalability of blockchain technology is still being developed Global Adoption of Cryptocurrency
Cryptocurrency 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 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 In 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. Reference
● www.Kaspersky.com ● www.google.com ● Chatgpt Thank you
