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One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get 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Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know 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Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":726,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Selfish Mining?","slug":"what-is-selfish-mining","section":"S","keyword":"Selfish Mining","status":"published","definition":"mining mechanism when a new fork is created and the generated block is not shared with the rest of the miners.","content":"<p><strong>Selfish mining</strong> is a blockchain mechanism that allows <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-miner/">
block miners</strong></a> to increase their profits. This mechanism utilizes <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fork-blockchain/">blockchain forks</strong></a> by allowing miners to create new ones and <strong>keep their mined blocks to themselves</strong> rather than share them with the network.</p>\n<p>Mining cryptocurrency such as <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> is a resource-intensive process. It can incur high electricity costs and heat emissions due to the energy consumption of the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining-rig/">mining rigs</strong></strong></a> and the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hash-power-hashrate/">hash power</strong></a> required.</p>\n<p>Blockchains are based on principles of decentralization. The miners that create a new valid block receive rewards in cryptocurrency for their work. Many miners have found that forming <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining-pool/">mining pools</strong></strong></a> acts as a better incentive to mine and receive rewards.</p>\n<p>The issues of resource consumption have led to miners looking for solutions that could optimize the mining process. One of such solutions proposed in 2013 is selfish mining.</p>\n<p>Based on the selfish mining mechanism, <strong>the miners aren’t required to broadcast their new blocks to the entire blockchain network</strong>. Instead, they can create a new fork to improve the processing speed and mitigate the waste of resources.</p>\n<p>While each miner can create a newly forked blockchain of their own, they can also join a pre-existing fork. In some cases, a <strong>specific fork may grow bigger than the original blockchain</strong>. This can impact the decentralization of the entire system as one fork holds more centralized power to mine blocks that are not widely distributed for validation.</p>\n<p>The process of selfish mining has significant consequences on the health of the blockchain and its decentralization. It cannot be utilized as a long-term mining strategy because it can severely devalue the tokens.</p>\n<p>Selfish mining can also damage the reputation of the cryptocurrency in question as it is no longer verified by the decentralized network. After a while, the <strong>miners can see the financial benefits of selfish mining dwindle</strong> and it becomes increasingly less sustainable.</p>","level":"medium","meta_title":"What is Selfish Mining? Definition & Meaning | Crypto Wiki","meta_description":"Selfish Mining meaning: Selfish Mining - mining mechanism when a new fork is created and the generated block is not shared with the rest of the miners.","meta_keywords":null,"language":"en","created_at":"2022-03-30T13:46:48.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-selfish-mining"},"prevSection":{"id":724,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Scammer?","slug":"what-is-scammer","section":"S","keyword":"Scammer","status":"published","definition":"an entity that performs a fraudulent scheme with the intent of obtaining something from the victim.","content":"<p>A <strong>scammer</strong> is a person or an entity that conducts a fraudulent scheme with the intent to obtain something from the victim, usually financial assets or information. Scammers have a number of tools and strategies to trick their victims and convince them that the scheme is legitimate and possibly even profitable to them.</p>\n<p>The rise of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrencies has given way to new types of scams, specifically targeting those who hold crypto assets. Fake <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">initial coin offerings (ICOs)</strong></a> using clones of other coins, promises of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">NFT collections that are never delivered, and too-good-to-be-true <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">decentralized finance (DeFi)</strong></a> projects are just some of the many scams floating around the crypto sphere.</p>\n<p>There are four general types of the most common crypto scams that members of different blockchain networks should be wary of:</p>\n<ul>\n<li>Impostor websites;</li>\n<li>Fake apps;</li>\n<li>Compromising updates;</li>\n<li>Scam emails.</li>\n</ul>\n<p>Impostor websites act as a method of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-phishing/">phishing. These websites are developed to appear legitimate and often replicate a website with some kind of payment gateway or a registration form that can be used to steal the victim’s information.</p>\n<p>While some impostor websites are only able to steal the data that the users enter, others may also contain viruses or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-malware/">malware that can infect the rest of the computer and cause irreparable damage.</p>\n<p>Fake apps can be developed for desktop or mobile devices. Such apps are <em>corrupted to the core</em> – their code is designed to act maliciously once the app is downloaded and opened. Similar to impostor websites, fake apps can appear legitimate, although they do not come from an official, verified source. They are frequently used to steal sensitive data.</p>\n<p>Some malicious parties can design social media updates that compromise user accounts, <strong>create security gaps</strong> that can allow hackers in or otherwise corrupt the security, and steal data from the user. Compromising updates can lead to the users losing all access to their accounts.</p>\n<p>Scam emails are one of the oldest tricks in the book. However, their effectiveness has significantly decreased over the years, as many email services can now flag spam emails as soon as they appear in the inbox.</p>\n<p>Scam emails are usually quite easy to spot due to bad grammar, odd formatting, and <strong>suspicious email addresses of the senders</strong>. They may contain links to phishing websites that appear legitimate.</p>\n<p>Recently, there has been an increase in scam emails regarding financial operations on platforms like PayPal or Venmo, as well as emails mentioning <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">crypto wallets</strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">exchanges.","level":"medium","meta_title":"What is Scammer? Definition & Meaning | Crypto Wiki","meta_description":"Scammer meaning: Scammer - an entity that performs a fraudulent scheme with the intent of obtaining something from the victim.","meta_keywords":null,"language":"en","created_at":"2022-03-30T13:37:45.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-scammer"},"currentChapter":"S","currentSection":"what-is-supply-chain-attack","chapterTitle":"S","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-supply-chain-attack","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter S
What is Supply Chain Attack?
Supply Chain Attack MEANING:
Supply Chain Attack -
a technique that hackers use to get important information from third-party suppliers of major enterprises, organizations, and governments.
Let's find out Supply Chain Attack meaning, definition in crypto,
what is Supply Chain Attack,
and all other detailed facts.
Supply chain attacks happen when hackers extract important information from third-party suppliers of major enterprises, organizations, and governments.
A great example of a supply chain attack is the Solar Winds attack that happened in 2020. In this case, hackers broke into a software supplier used by companies that appear on the Fortune 500 list, as well as government agencies, and other businesses. The hackers could’ve indirectly attacked all of these entities simply by attacking Solar Winds.
They acquired access to a significant amount of sensitive and perhaps top-secret material (kept by branches of the military, the state department, and the Pentagon) by exploiting a trojan horse update.
Due to the fact that many contemporary operations depend on software and services from third-party suppliers, such as cybersecurity organizations, keeping systems secure is becoming increasingly complex. Supply chain attacks actually cross the line from cybercrime into cyberwarfare territory.
