Currency Revolution

Wow ecoin

Table of Contents
What is Bitcoin? ..
Bitcoin Success Story....
Security in Bitcoin ...
BlockChain ..
What is Bitcoin Mining? ..
Encryption .
Who Accepts Bitcoin?
Other Crypto Coins ? ...
WOWCOIN Its alive!..
WOWCOIN Features..
SWIU & WOWecoin.

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What is Bitcoin?

Bitcoin (BTC) is a new kind of currency introduced in 2009. Its

the first decentralized electronic currency crypto coin that
cannot be controlled by a single organization or government
(Magic Internet Money)
Bitcoin is an open source project that anyone can validate its
security and stability
All over the world people are trading millions of dollars worth of
bitcoin every day

Trades are made with no middle man and no credit card

companies

What is Bitcoin? continued

Transactions are fast, borderless, nearly free, and transactions

are irreversible
Digitally distributed crypto-currency with no central authority
Transferred between its users on the bitcoin network from a
computer, printout, coins, or cell phone

What is Bitcoin? continued

Creation of new bitcoins are mined by computers running the

network
They are a scarce resource and there will only be 21 million
bitcoins created

Bitcoins are divisible to 8 decimal places yielding a total number

of 21 x 1014 currency units.
1 BTC..1 bitcoin
(reference table below)

0.01 BTC1 cBTC (bitcent)

0.001 BTC.1 mBTC (millibit or mbit)
0.0001 BTC..1 uBTC (microbit or ubit)
0.00000001 BTC .1 satoshi

Bitcoin Success Story

Security in Bitcoin
3 important features of the Bitcoin protocol :

The BlockChain

Bitcoin mining

Encryption
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BlockChain
Every transaction is maintained on a public ledger called the
blockchain
o

Public ledger of all transactions assembled and shared within the

network

Dividing coins creates a new chain that can still be traced back to
its creation

Computers maintain the blockchains credibility through group

consensus

How Transactions Work Through the Chain

0.5 BTC

one new bitcoin

is created

original owners
current amount

seller receives payment,

new chain is created
0.25 BTC

0.125 BTC

1 BTC
0.125 BTC

0.5 BTC
0.25 BTC

two merchants receive

bitcoin as payment

Black squares represent the

original holders transactions
Grey squares represent
merchants receiving payment
Source: themisecircle.org

What is Bitcoin Mining?

Bitcoin mining creates new bitcoins, guarantees transaction
legitimacy, and is handled by PCs running the free software. These
computers verify and store trades made on the network.
Miners are rewarded with new bitcoins and transfer fees for their service

Mining bitcoin is comparable to buying lottery tickets, a user exchanges processing power
for the chance to win bitcoins
The faster a computer mines (more processing output), the higher their odds of winning
Bitcoin mining has created a hardware industry within itself with high gross sales, new
technologies of computer chips have been developed to mine more efficiently
The difficulty to generate bitcoins are automatically adjusted to the total power of the
network itself, this results in a predictable timeframe until 21 million coins (Year 2140)

Encryption
Cryptography :
Cryptography is the branch of mathematics that lets us create mathematical proofs that provide high levels
of security. Online commerce and banking already uses cryptography. In the case of Bitcoin, cryptography is
used to make it impossible for anybody to spend funds from another user's wallet or to corrupt the block
chain. It can also be used to encrypt a wallet, so that it cannot be used without a password.
Bitcoin makes heavy use of the cryptographic hash function SHA256, which stands for Secure Hash Algorithm
256-bit.
Example - Hash values of empty string.
SHA256("")
0x e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855

Who Accepts Bitcoin?

Bitcoin payment processors Bitpay, Coinbase, and Blockchain.info combined report

over 100,000 merchants and 5 million users. Merchants can also accept bitcoin and
get paid in dollars (USD)
Baidus, Chinese version of Google, announcement to accept bitcoin drove up the
price

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Who Invests in Bitcoin Companies?

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Other Crypto Coins ?

1.
2.

3.
4.
5.

NO encryption (SHA 256)

NO blockchain.
NO Core Client or QT (for mining and validation)
NO application programming interface (API)
NO generation of Public or Private Keys

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WOWCOIN Encryption completed!

3 December 2014 WOWCOIN created

(3 Billion tokens pre-mined on a crypto platform that is secured by the Bitcoin network).
Hot and ready for the official launch!

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WOWCOIN Features
1.
2.

3.

4.

5.
6.
7.
8.

Secured and validated by the Bitcoin protocol.

Minimum of two (2) persons to distribute the WOWCOIN to
prevent abuse of power.
Transaction (TX) confirmation time about 10 minutes (as per
Bitcoin)
Possibility of trading WOWCOIN for Bitcoin or any crypto assets
directly via a decentralized exchange (DEX).
All transactions can be validated via a block explorer.
Members can create multiple web wallets to store WOWCOINs.
Web wallets do not contain personal identity information.
No risk of identity theft.

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SWIU & WOWecoin

COLLABORATION FOR SCHOOL OF EXCELLENCE CRYPTOCURRENCIES

www.swiu.edu
www.wowecoin.com

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SWIU & WOWecoin

SWIU & Wowecoin collaboration

Full Curriculum Cryptocurrencies
Wowecoin can be used to redeem University
/ MBA Course Fees
Ongoing Research / R&D for School of
Excellence in Cryptocurrencies

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