Definitions
A digital currency maintained by a decentralized system
What is cryptocurrency
Fraudsters deceive people into providing sensitive information by pretending to be legitimate entities.
What is Phishing
Most popular cryptocurrency
What is Bitcoin (BTC)
A process that converts plaintext into an unreadable format using a secret key
What is encryption
The risk of investing in crypto
What is very high
A shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network
What is the blockchain
when someone threatens to reveal private information unless they receive money or favors
What is blackmail
Second most popular cryptocurrency
What is Ethereum (ETH)
This algorithm is widely used for secure data transmission and is based on the difficulty of factoring large numbers.
What is RSA
Machines that allow users to buy and sell cryptocurrencies using cash or debit cards.
What are crypto ATMs
Using computing power to verify transactions to add new blocks to the blockchain
What is Mining
Fraudsters inflate a coin's price with misleading statements, then sell at the peak, causing losses for other investors.
What is Pump and Dump
Third most popular cryptocurrency
What is Tether (USDT)
A form of encryption where the same key is used for both encryption and decryption of data
What is symmetric encryption
A facility with powerful computers that mine cryptocurrencies
What is a crypto farm
Miners using an algorithm to produce a hash from the block header
What is Hashing
A scam where fake projects promise high returns to investors but disappear with their funds
What is a fraudulent initial coin offering
Fourth most popular cryptocurrency
What is XRP (XRP)
cryptographic technique ensures the authenticity and integrity of a message using a mathematical scheme
What is a digital signature
In blockchain terminology, this is the pseudonymous identity used by participants to send and receive cryptocurrency.
What is a wallet address
A number used once to ensure that each blockchain transaction is unique
What is a Nonce
Promise high returns from cryptocurrency mining but actually steal investors' funds without delivering any returns.
What is a cloud mining scam
Fifth most popular cryptocurrency
What is Solana (SOL)
hash function that is widely used in cryptocurrencies for proof-of-work calculations and transaction verification
What is SHA-256 (secure hash algorithm 256-bit)
3 steps of the mining process