What is Ransomware?

Computers across the world were locked up and user’s files held for ransom when dozens of countries were hit in a cyberattack that targeted hospitals, companies and government agencies. Malware is a general term that refers to software that’s harmful to your computer. Ransomware is a type of malware that essentially takes over a computer and prevents users from accessing data on it until a ransom is paid.

How computer is infected - In most cases, the software infects computers through links or attachments in malicious messages known as phishing emails. The software usually is hidden within links or attachments in emails. Once the user clicks on the link or opens the document, their computer is infected and the software takes over. Ransomware, like the name suggests is when your files are held for ransom. It finds all your files and encrypts them and then leaves you a message. If you want to decrypt them, you have to pay.

How it works - The ransomware encrypts data on the computer using an encryption key that only the attacker knows. If the ransom isn’t paid, the data is often lost forever. When the ransomware takes over a computer, the attackers are pretty explicit in their demands. In most cases, they change the wallpaper of the computer and give specific instructions telling the user how to pay to recover their files. Most attackers demand between $300 and $500 to remove the malicious ransomware; the price can double if the amount isn’t paid within 24 hours. Law enforcement officials have discouraged people from paying these ransoms.

How to avoid it - Users should regularly back up their data and ensure that security updates are installed on your computer as soon as they are released Up-to-date backups make it possible to restore files without paying a ransom. Users should also look for malicious email messages that often masquerade as emails from companies or people you regularly interact with online. It’s important to avoid clicking on links or opening attachments in those messages, since they could unleash malware.

Bitcoin – The Digital Currency

It’s worth more than an ounce of gold right now. It’s completely Digital and it’s the currency of choice for the cyber attackers who crippled computer networks around the world in recent days. When the attackers' "ransomware'' sprang into action, it held victims hostage by encrypting their data and demanding they send payments in Bitcoins to regain access to their computers. Bitcoin has a fuzzy history, but it's a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties. 

How Bitcoins work – Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who ‘mine’ them by lending computing power to verify other user’s transactions. They receive Bitcoins in exchange. The coins also can be bought and sold on exchanges with U.S dollars and other currencies.

Why are Bitcoins popular? - Bitcoins are basically lines of computer code that are digitally signed each time they travel from one owner to the next. Transactions can be made anonymously, making the currency popular with libertarians as well as tech enthusiasts, speculators and criminals.

Is it really anonymous - Yes, to a point. Transactions and accounts can be traced, but the account owners aren't necessarily known. However, investigators might be able to track down the owners when Bitcoins are converted to regular currency. For now, the three accounts tied to the ransomware attack appear untouched and it'll be difficult for perpetrators to cash in anytime soon without getting traced. 

Who's using bitcoin? - Some businesses have jumped on the bitcoin bandwagon amid a flurry of media coverage. Overstock.com accepts payments in bitcoin, for example. The currency has become popular enough that more than 300,000 daily transactions have been occurring recently, according to bitcoin wallet site blockchain.info. A year ago, activity was closer to 230,000 transactions per day. Still, its popularity is low compared with cash and cards, and many individuals and businesses won't accept Bitcoins for payments. 

How Bitcoins are kept secure? - The bitcoin network works by harnessing individuals' greed for the collective good. A network of tech-savvy users called miners keep the system honest by pouring their computing power into a Blockchain, a global running tally of every bitcoin transaction. The Blockchain prevents rogues from spending the same bitcoin twice, and the miners are rewarded for their efforts by being gifted with the occasional bitcoin. As long as miners keep the Blockchain secure, counterfeiting shouldn't be an issue.

How bitcoin came to be - It's a mystery. Bitcoin was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. Bitcoin was then adopted by a small clutch of enthusiasts. Nakamoto dropped off the map as bitcoin began to attract widespread attention. The currency obeys its own internal logic.

What is Blockchain Technology?

The Blockchain is an undeniably ingenious invention. By allowing digital information to be distributed but not copied, Blockchain technology created the backbone of a new type of internet. The Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.

Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the Blockchain. Information held on a Blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The Blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

Blockchain technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the Blockchain cannot: Be controlled by any single entity and has no single point of failure. Bitcoin was invented in 2008. Since that time, the Bitcoin Blockchain has operated without significant disruption. The Blockchain network lives in a state of consensus, one that automatically checks in with itself every ten minutes.  A kind of self-auditing ecosystem of a digital value, the network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions is referred to as a “block”. Two important properties result from this: Transparency and it cannot be corrupted.

By storing data across its network, the Blockchain eliminates the risks that come with data being held centrally. Its network lacks centralized points of vulnerability that computer hackers can exploit. Today’s internet has security problems that are familiar to everyone. We all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology. The basis for this is the so-called public and private “keys”. A “public key” is a users’ address on the Blockchain. Bitcoins sent across the network gets recorded as belonging to that address. The “private key” is like a password that gives its owner access to their Bitcoin or other digital assets. Store your data on the Blockchain and it is incorruptible.

With Blockchain technology, the web gains a new layer of functionality. Already, users can transact directly with one another — Bitcoin transactions in 2016 averaged over $200,000 US per day. With the added security brought by the Blockchain new internet business are on track to unbundle the traditional institutions of finance. Goldman Sachs believes that Blockchain technology holds great potential especially to optimize clearing and settlements, and could represent global savings of up to $6bn per year.

History behind International Labour Day

What started as International Workers Day in Chicago in May 1886 further spread to other parts of the world, India being no exception. The first celebration of Labour Day in India took place in Chennai on May 1, 1923. Organized by the Labour Kisan Party of Hindustan, the red flag, an emblem of the labour class, was also used in India.

The party's leader, Singaravelu Chettiar, conducted 'May Day' celebrations in two places — one at a beach opposite Madras High court and the other at the Triplicane beach. He later presided over the meeting and a resolution declaring a holiday on the occasion was passed here. Certain other pointers explaining non-violent principles of the party, request for some financial aid and achieving independence for the workers of the world were discussed, too.

A nationwide public holiday, it highlights the labour movements for communist and socialist political parties. It is known by various names like Kamgar Din (Hindi), Kamgar Divas (Marathi) and Uzhaipalar Dinam (Tamil), the 'Antarrashtriya Shramik Diwas'.

Until the official declaration in 1917, Russians celebrated the day illegally. Post this year, these celebrations were boycotted by Left Socialist Revolutionaries, anarchists and Mensheviks. It went on to become a significant official holiday of the Soviet Union, which they celebrated with parades in major cities. Since 1992, it is officially termed as 'The Day of Spring and Labour' and is a major holiday.

In Japan, while there's no officially designated holiday on the day, most people take their day off since it falls between other national holidays. Starting from April 29, the 'Golden Week' begins. This day is celebrated as Showa Day, the birthday of Emperor Showa, who reigned between 1926 and 1989. May 3, 4 and 5 are celebrated as Constitution Memorial Day, Greenery Day and Children's Day, respectively.

In New Zealand and some parts of Australia, this day is celebrated on the first Monday of October, while in US and Canada; it takes place on the first Monday of September. Every year, a theme is planned by the members of the International Labour Day, this year being 'Celebrating the international labour movement'. This theme becomes the centre point of the celebrations and activities like crossword puzzle, anagram puzzle, word search puzzle, code cracker puzzle, word scramble puzzle take place.