YOCoin PowerPoint Presentation
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Cryptocurrency is a digital currency that uses cryptography to secure transactions. Bitcoin was the first cryptocurrency, created in 2009. YOcoin is an alternative cryptocurrency (altcoin) created in 2015. It has some advantages over Bitcoin like faster transaction times of 2.5 minutes versus 10 minutes for Bitcoin. YOcoin uses the Scrypt algorithm for mining rather than Bitcoin's SHA-256. The document discusses how YOcoin works, how to use it, differences from Bitcoin in mining and transactions, and the development roadmap for YOcoin.
YOCoin PowerPoint Presentation
- 3. A Cryptocurrency is a digital currency that is created through mathematical engineering (algorithm). It is designed to be open, anonymous, secure, fast and bypasses traditional financial structures.
- 4. Bitcoin, created in 2009, was the world’s first Cryptocurrency. Since then, many new Cryptocurrencies (also known as Altcoins) have been introduced.
- 5. YOcoinBitcoin Coin Limit 21 Million 84 Million Algorithm Mean Block Time Difficulty Retarget Block Reward Details Initial Reward Current Block Reward Block Explorer Created By Creation Date SHA-256 10 Minutes 2016 Block Halved every 210,000 blocks 50 BTC 25 BTC blockchain.info Satoshi Nakamoto January 3rd, 2009 Scrypt 2.5 Minutes 2016 Blocks Halved every 840,000 blocks 50 YOC 50 YOC explorer.yocoin.org Jack Silvestri December 8th, 2015 Bitcoin Statistics YOcoin Statistics How YOcoin is different from Bitcoin
- 6. ADVANTAGES OF CRYPTOCURRENCY OVER TRADITIONAL MONEY VS Traditional
- 7. Digital currency maintains its users complete anonymity. When you make a purchase with traditional money your personal information is attached to each and every transaction which can be used to track you and take note of your purchases. But cryptocurrency transactions carry no personal information.
- 8. Cryptocurrencies aren't directly linked to the laws, rules or regulations of any government, corporation or bank. Hence, the interest rates, fees and surcharges that you may have to pay on your bank account or credit card do not effect your transactions or cryptocurrency in any manner.
- 10. How does YOcoin work ? The Mining Process SERVERS GENERATE COMPLEX MATH PROBLEMS MINERS GENERATE SOLUTION TO RELEASE YO COINS
- 11. How to use YOcoins SET UP YOCOIN WALLET BY DOWNLOADING SOFTWARE ON COMPUTER OR PHONE THIS SOFTWARE GIVES YOU A UNIQUE AND SECURE IDENTIFICATION CODE FOR BEING IDENTIFIED IN THE NETWORK. XVhgXFFXSCS456FGGCF6ETCF76576 YOU CAN BUY YOCOINS WITH OTHER STANDARD CURRIENCIES FROM OTHER USERS OR REGISTERED EXCHANGES. THE FUND IS ADDED TO WALLET INSTANTLY. THE YOCOIN NETWORK AUTHENTICATES THE TRANSACTION BY ADDING IT IN PREVIOUS BLOCK CHAIN AND MAINTAINS INTEGRITY. YOU CAN ALSO SEND PAYMENTS TO OTHER ADDRESSES BY USING THE SECURE SOFTWARE EASILY.
- 12. Y Y Y Y Role of Blockchain in YOcoin mining USER ‘A’ SENDS FUND TO USER ‘B’ THE TRANSACTION IS CONVERTED TO A ‘BLOCK’ THE TRANSACTION IS BROADCASTED ON THE NETWORK FOR VALIDATION THIS BLOCK IS ADDED TO THE EARLIER NON REVERSIBLE PROCESS CHAIN OF BLOCK FINALLY USER ‘B’ RECIEVES FUNDS FROM USER ‘A’
- 13. Transactional differences between YOcoin and Bitcoin
- 14. YOcoin can handle a higher volume of transactions thanks to its faster block generation. If Bitcoin were to try to match this, it would require significant updates to the code that everyone on the Bitcoin network is currently running. YOcoin User Bitcoin User
- 15. A merchant who waited for a minimum of two confirmations would only need to wait five minutes, whereas they would have to wait 10 minutes for just one confirmation with Bitcoin. YOcoin User Bitcoin User
- 16. Mining differences between YOcoin & Bitcoin The key difference for end-users is the speed a transaction is validated. YOcoin requires only 2.5 minutes to generate a block, as opposed to Bitcoin's 10 minutes. Bitcoin uses the SHA-256 hashing algorithm, YOcoin, however, uses the scrypt algorithm – originally named as s-crypt, but pronounced as 'script'. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. The total hashing rate of the Bitcoin network is over 20,000 Terra Hashes per second, while YOcoin is just 95,642 Mega Hashes per second.
- 17. YOcoin is a REAL Cryptocurrency!
- 18. REGISTERED AT C-CEX CRYPTOCURRENCY EXCHANGE
- 19. REGISTERED AT SAFECEX CRYPTOCURRENCY EXCHANGE
- 20. REGISTERED AT COINEXCHANGE CRYPTOCURRENCY EXCHANGE
- 21. REGISTERED AT ALCUREX CRYPTOCURRENCY EXCHANGE
- 22. REGISTERED AT BLOOMBIT CRYPTOCURRENCY EXCHANGE
- 23. YOC LAUNCH (DEC 07 2015) OFFICIAL YOCOIN SITE (JAN 01 2016) FAUCET&BLOCK EXPLORER (DEC 17 2015) FIRST UNOFFICIAL POOL (DEC 11 2015) LISTED ON BTC POOL EXCHANGE(DEC 23 2015) LISTED ON COINORIUM EXCHANGE(JAN 08 2016) 1 2 3 4 5 6 YOcoin Roadmap:
- 24. LISTED ON EMPOEX EXCHANGE (JAN 09 2016) SECOND UNOFFICIAL POOL (JAN 31 2016)LISTED ON C-CEX EXCHANGE (JAN 20 2016) SPONSERED BY YOCOIN ITALY (JAN 10 2016) LISTED ON COINMARKET CAP(JAN 21 2016) OFFICIAL PAPERWALLET GENERATOR (FEB 17 2016) 7 8 9 10 11 12
- 25. OFFICIAL MINING POOL RELEASED (FEB 19 2016) OFFICIAL BLACKJACK GAME RELEASED(MARCH 03 2016) OFFICIAL FORK DIFFICULTY RETARGETS EVERY 2016 BLOCKS (MARCH 01 2016) OFFICIAL WEB WALLET RELEASED (FEB 23 2016) OFFICIAL BLOCK CRAWLER RELEASED (MARCH 03 2016) LISTED ON ALCUREX EXCHANGE(MARCH 13 2016) 13 14 15 16 17 18
- 26. OFFICIAL ANDROID WALLET PAYMENT GATEWAY TO ALLOW MERCHANTS TO ACCEPT YOCOINREAL YOC COINS! OFFICIAL DICE YOC AS PAYMENT METHOD FOR CASINO GAMES 19 20 21 22 23
- 27. Be at the vanguard part of a TRUE Community-driven Cryptocurrency… YOcoin!