Posts Tagged: "Cybercurrency"

Responding to Ransomware

Ransomware attacks are on the rise, partly because of the ease and anonymity of crypto-currencies. In a typical ransomware attack, cyber criminals invade a computer system and encrypt key data, then threaten to destroy the data unless the victim pays the criminal a relatively minor sum (ranging from hundreds to thousands, or in rare cases, tens of thousands of dollars). Rather than trying to determine whether to agree to ransom terms, spend your time and energy preparing for an attack. Companies should consider a ransomware attack as you would any other cybersecurity breach. That is, it is going to happen, the only question is when. Sound preparation boils down to several key considerations.

How Bitcoin Became a Game Changer Overnight

Bitcoin was touted as the world’s first decentralized digital currency. It basically is a cryptocurrency which uses peer-to-peer technology to provide payment network gateway. Bitcoin is deliberately designed for public use by making it an open-source. Therefore, nobody owns or governs or control Bitcoin and everyone can be a part of it. Bitcoin financial infrastructure follows decentralized and automated systems which overcome the inefficiency of the traditional financial system. The unique feature of Bitcoin is that no one can block you from transferring money from anywhere in this world. Further, this makes whole transaction process irreversible. These transactions are recorded in a public distribution ledger called a blockchain.