What is CryptoCurrency?
A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency.
What is a smart contract?
Thee use of ‘smart’ in smart contracts refers to the fact that some element of the smart contract is automatic and self-executing in accordance with pre-defined conditions.
Smart contracts written as software programs on distributed ledgers would mean that the contracts, once agreed upon, cannot easily be modified. However, real-world contracts can be modified as long as the parties in the contract agree.
For a contract to be valid, legal systems will impose certain requirements. There are four key elements that must (usually) be satisfied:
Bitcoin Scams / Phishing
What is Bitcoin?
Bitcoin is a cryptocurrency, or a digital currency, that uses rules of cryptography for regulation and generation of units of currency. Bitcoin falls under the scope of cryptocurrency and was the first and most valuable among them. It is commonly called a decentralised digital currency.
Bitcoin phishing attacks are considered the most dangerous for users, especially those still foreign to the ways of Bitcoin transactions.
The phishing emails used a classic phishing strategy, a bogus alert of a suspicious sign-in attempt. To make sure that no Bitcoins are stolen, a password reset is recommended with a link to do that at the end of the message.
- Ethereum Scams
- Virtual Currency related cases
- Taxation Issues