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 popular term for describing deceptive investment schemes where investors lose all their money after a time.

A Ponzi scheme is a popular term used to describe dishonest investment opportunities and schemes. Such schemes are often characterized by overly high return on investments and hazy methods of business operation. However, because the potential profits are high, many new investors commit themselves financially and usually end up losing most or all of their funds. This loss often comes after the founder of the scheme disappears with investors’ funds or applies for bankruptcy.

Ponzi schemes were named after an Italian swindler from the 1920s, Charles Ponzi. He duped many different people with his schemes and inadvertently developed the framework for these kinds of cons. Cryptocurrency skeptics often describe it as a ponzi scheme that will eventually collapse.

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.

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