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Potential Blockchain Frauds

Ross Pitcoff Law > Legal Advice  > Cryptocurrency and Blockchain  > Potential Blockchain Frauds

Potential Blockchain Frauds

The underlying technology behind Cryptocurrency is Blockchain, by which many users or “nodes” all hold a complete record of all transactions that have ever occurred on the platform. Because the full ledger of historic transactions exist across all computers on the Blockchain, it is very difficult to forge fraudulent transactions; every user has access to a complete, verified record and could see any discrepancies that arise from foul play. This is referred to as a “distributed ledger”.

For more information or to speak with an attorney today, email: ross@rosspitcofflaw.com or call: (646) 386-0990. We’d be happy to help!

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