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It&rsquo;s considered to be the initiating terms of a formal contract and it is widely used in personal financial and law-related interactions, as well as <strong>corporate transactions</strong>.</p>\n<h3>How Does a Memorandum of Understanding (MOU) Work?</h3>\n<p>An MOU is a statement that all parties agree to proceed with a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-contract/">contract or endeavor. It is prepared with the expectation that the project will be completed in the near future. MOUs are often signed confidentially between international governments, country's state agencies, and corporate organizations. It&rsquo;s considered to be the same <strong>thing as</strong> a Memorandum of Agreement (MOA) or a letter of intent.</p>\n<p>An elaborate MOU provides a framework for coordinating the efforts of all parties involved and outlines the principles or instructions. This guarantees that the <strong>targeted aim is met efficiently</strong>. Before a contract can be executed, the division of labor between the negotiating parties is simplified. This enables the parties to evaluate the plan's suitability and effectiveness without the need for legal intervention.</p>\n<p>An MOU is often referred to as \"an agreement before an agreement\". Prior to the meeting, each party can explain their goals and expectations. Any misinterpretations, questions, or doubts are handled quickly.</p>\n<h3>The Notable Things of a Memorandum of Understanding (MOU)</h3>\n<ul>\n<li>The <strong>goal</strong> and the reason for an MOU should be consensually agreed on by all of the participating parties.</li>\n<li>Every MOU should have explicit instructions that are <strong>aligned with the parties' common understanding</strong> and include details that are important for the contract.</li>\n<li>The time and date of the agreement should be indicated as precisely as possible and met accordingly.</li>\n<li>While signing an MOU, the details of each negotiator and party, as well as their <strong>roles</strong>, should be indicated.</li>\n<li>Rules and repercussions of backing out from the contract (if there are any) should also be indicated in the agreement.</li>\n</ul>\n<h3>The Advantages of a Memorandum of Understanding (MOU)</h3>\n<ul>\n<li>MOUs are drafted in no time, which allows all parties to concentrate on the task at hand.</li>\n<li>With a predetermined MOU in hand, future contracts and agreements are more streamlined and result in <strong>less bother</strong>, as well as help avoid conflicts between parties.</li>\n<li>Signing an MOU is less expensive since it eliminates the need to pay a lawyer or a legal negotiator to draft a mutual agreement.</li>\n<li>An MOU is beyond legal intervention, therefore, it's a perfect preliminary agreement for any project because it's <strong>legally non-binding</strong> and can't be used in court.</li>\n</ul>\n<p>MOUs are widely used by governments and numerous <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency platforms all around the world. They've definitely cleared the way for the development of legal frameworks for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</strong></a>.</p>","level":"medium","meta_title":"What is Memorandum of Understanding (MOU)? 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The term is not to be confused with a meet-in-the-middle attack.</p>\n<p>The two parties being intercepted believe that they are communicating directly and securely. The perpetrator acts as a third party, intercepting the information, and is able to send new messages or modify them to appear as if they were sent from one of the two parties.</p>\n<p>Man-in-the-middle attacks often occur when users connect to unprotected Wi-Fi networks. The goal of such cyberattacks is to <strong>steal sensitive information</strong>, such as login or banking details, spy on the victims, or modify and corrupt data.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-encryption/">Encryption can protect users from experiencing MITM attacks. In some cases, attackers may employ methods like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-phishing/">phishing to trick users into visiting scam websites that appear legitimate. Data acquired from phishing websites can be harvested or recorded with little to no trace, meaning that users often don&rsquo;t know they fell victim to a MITM attack.</p>\n<p>Man-in-the-middle attacks attempt to <strong>avoid mutual authentication</strong>. This means that the attacker must impersonate each end of the conversation well enough to convince the parties that the conversation is not intercepted. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptography/">Cryptographic protocols rely on endpoint authentication to prevent MITM attackers from interfering.</p>\n<p>Transport Layer Security, or TLS, uses a mutually trusted certificate of trust to authenticate the identities of the parties involved in the conversation.</p>","level":"easy","meta_title":"What is Man-in-the-Middle Attack (MITM)? 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Handbook Cover Page
Crypto Terms: Letter M

What is Max Supply?

Max Supply MEANING:
Max Supply - the closest possible approximation of the maximum number of cryptocurrency coins that will exist throughout the existence of said cryptocurrency.
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Let's find out Max Supply meaning, definition in crypto, what is Max Supply, and all other detailed facts.

Max supply refers to the closest possible approximation of how many coins a cryptocurrency will have in total throughout its existence. Once the maximum supply of the assets is reached, there can be no more coins produced in any way.

Max supply is not to be used interchangeably with total supply. Maximum supply included all the coins that have been mined, burned, and that have not yet been mined. Total supply can be calculated by subtracting the number of coins that have been burned from the amount of mined coins.

Many cryptocurrencies, such as Bitcoin (BTC), have a predetermined maximum supply written in their protocol. The max supply of Bitcoin is capped at 21 million coins.

Ethereum (ETH) does not have a predetermined fixed supply, meaning that its max supply is practically impossible to predict.
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