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Norton security premium 20179/19/2023 Cybercriminals can simply hijack someone else’s machine with just a few lines of code. In a sense, cryptojacking is a way for cybercriminals to make free money with minimal effort. As of June 2018, some cryptocurrencies equal as much as US$6,750.83 per unit.Īccording to Symantec’s Internet Security Threat Report, cryptojacking also skyrocketed in 2017. Before the end of 2017, the value soared to almost US$20,000 a Bitcoin. In 2010, a Bitcoin was set at less than 1 cent. There are other variables such as how easy the currency is to use, the energy and equipment put into mining it, and more.įor these reasons and others, cryptocurrency has fluctuated in value in the past several years. For example, there are only a finite number of Bitcoins that have not been completely mined. It’s hard to explain how cryptocurrencies gain monetary value however, it is based in part on the principle of supply and demand, and the difficulty of obtaining the cryptocurrency. Users can “mine” it on their computer by using special programs to solve complex, encrypted math equations in order to gain a piece of the currency. For those not familiar with this fairly new terminology, cryptocurrency is a form of digital currency that can be used in exchange for goods, services, and even real money.
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