Assignment On Crypto-Currencies

Crypto-
Currencies
Ethereum

Title and Content Layout with List
• Define Crypto currencies and there associated Roles.
• Concept of Block-Chain.
• Ethereum as a Crypto-Currency.
• Lightning Network.

Crypto-Currencies
• A Crypto-Currency is a type of tradable or a digital form of
money that is built on the block-chain technology and is
traded on an online basis. Crypto-currencies generally use
cryptography to verify and secure transactions that are
done by users.
• Crypto-currency as an digital currency is also referred as
an key internet-based medium of exchange that applies the
principle of cryptographically functions for the purpose of
conducting and carrying out various financial transactions.
• Crypto-currencies can be sent directly between two parties
via the use of private and public keys.

Price Trend of Bitcoin as a Crypto-
Currency
8/1/2015
10/1/2015
12/1/2015
2/1/2016
4/1/2016
6/1/2016
8/1/2016
10/1/2016
12/1/2016
2/1/2017
4/1/2017
6/1/2017
8/1/2017
10/1/2017
12/1/2017
2/1/2018
4/1/2018
6/1/2018
8/1/2018
10/1/2018
12/1/2018
2/1/2019
4/1/2019
6/1/2019
8/1/2019
-60.00%
-40.00%
-20.00%
0.00%
20.00%
40.00%
60.00%
80.00%
Bitcoin Price Trend

Role of Crypto-Currency
• The advancement in technology and innovation lead to a new type
of currency which was invented in the form of Crypto-Currency.
This was developed with the start of the Bit-coin in the year 2009,
which was developed by a still unknown creator known as Satashi
Nakamoto (Narayanan, Felten, Miller and Goldfeder 2016).
• Crypto-Currencies can serve as a key
stable store of value in a
world where the value of fiat money is directly dependent actions
of national governments, both in the domestic economy as well as
in the international currency markets.
• Crypto-Currencies can be particularly beneficial to those countries
that are having a weak national currency associated and is
undergoing through excess inflation stage.

Block-Chain Technology
The block chain technology which was first used in the mining of bit-coin
is the same principle which is used in the Ethereum network. The block-
chain is a set of ledger consisting of all the entries of transaction in a set
of block. Key properties of the mentioned technology are as follows:
• They cannot be tampered with easily.
• They record the transaction between the two parties without the
involvement of any intermediary.
• The block is available with every user of the block chain technology.
• Since the block chain cannot be tampered, data or entries can only be
included thus making the block chain relatively permanent.
• Since there is no central authority controlling the block chain any data
update is made by a consensus vote of the block chain users.