A cyberattack strategy that is the equivalent of impersonation for the purpose of stealing access to confidential information or funds.

Phishing describes the broad digital impersonation strategy where a person pretends to be someone else to steal users’ personal information. Often, the impersonated individual is the representative of a highly regarded company, so unaware users usually provide confidential access information such as usernames and passwords. As a result, the user’s private social media or bank account is exploited by the impersonator, leading to theft of information or money.

Phishing is traditional to emails, so many users who have lost access to their accounts or money due to phishing clicked a link sent to their mail. Such a link would direct the user to a website where they would provide their access information and temporarily lose access to their account(s) while the ‘phisher’ steals whatever they want.

An innovative Ethereum-based off-the-main-chain solution to better integrate the network for better transactions.

Plasma is the term used in the Ethereum community to describe an innovative solution meant for scaling the network. The main idea is that the Ethereum network can run more efficiently if it has smaller chains to run some of its operations. As such, the network will assume the form of a mega cell with other cells empowering it, thereby scaling transaction processing. The ‘glue’ for this interaction process across the main network and the other chains is plasma.

Plasma has not been implemented. However, users expect it to significantly boost the efficiency of the Ethereum network with its off-the-chain side operations.

A cryptocurrency whose price is attached to a real-life asset or reference.

A pegged currency is any cryptocurrency whose price value is determined by an external asset. Also called a stablecoin, the market value of these virtual currencies is always ‘pegged’ to something external to it, either to a fiat currency like the US dollar or a commodity like oil. As a result, pegged currencies are generally less volatile and therefore reliable compared to other types of virtual currencies.

There are 3 major types of pegged currencies: the ones with price values pegged to fiat currencies, the ones with price values pegged to other cryptos, and the ones with price values determined by supply-stabilizing algorithms. Examples of pegged currencies include USD Coin (USDC), Tether (USDT), Binance USD (BUSD), and Dai (DAI).

Phishing

Previous term

Next term