Synopsis On

UNDERSTANDING THE CONCEPT OF CRYPTO CURRENCY AND

HOW IT’s SECURITY WORKS

MASTERS OF COMPUTER APPLICATION

(SOFTWARE ENGINEERING)

Submitted To: Submitted By:

Dr. Ashish Payal Chitpara Vashishtha

Enrollment No. 40516404518

MCA(SE) 2nd Semester

GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY

Dwarka Sector 16 C, Delhi-110078
January 2019 – June 2019
1. INTRODUCTION
Most of the history, the form of currencies has changed. From
exchanging Gold, Silver or different valuable things, Fiat Money to
now Crypto currencies.
Through Bitcoin for the first time, the term cryptocurrency is
introduced in January 2009. A cryptocurrency is digital type
currency which uses cryptography for security and anti-
counterfeiting measures.
Cryptocurrencies use decentralized control as opposed to
centralized digital currency and central banking systems. The
decentralized control of each cryptocurrency works
through distributed ledger technology, typically known
as blockchain, that serves as a public financial transaction database.

Image Source: https://steemit.com/cryptocurrency/@angelmit/how-does-the-blockchain-work

There are various types of altcoins introduced throughout the years,

namely Bitcoin, Zcash, Ethereum, Ripple, Litecoin, IOTA, Dash and
many more.
2. OBJECTIVE
In this term paper purpose of approaching this topic is to understand
Cryptocurrency from the basics, and understand the hierarchical
nature of Cryptocurrency security through its three layer of security.
That are Coins or Tokens(ICO), Exchanges, Wallets: Hot(Online) or
Cold(h/w). And also understand how blockchain technology
provides the security layer to cryptocurrency.

3. REFERENCES

[1]: Cryptocurrency. Wikipedia(English) [Online]

https://en.wikipedia.org/wiki/Cryptocurrency.

[2]: Cryptocurrency.
https://www.techopedia.com/definition/27531/cryptocurrency

[3]: How Does Blockchain Technology Works.

https://steemit.com/cryptocurrency/@angelmit/how-does-the-
blockchain-work

[4]: Novikov I. . The Three Layers Of Cryptocurrency Security.

https://www.forbes.com/sites/forbestechcouncil/2018/05/03/the-
three-layers-of-cryptocurrency-security/#c0e5e9f29aa3