20240029082. SYSTEM AND METHOD FOR DETERMINING BLOCKCHAIN-BASED CRYPTOCURRENCY CORRESPONDING TO SCAM COIN simplified abstract (Digital Asset Evaluation Korea)

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SYSTEM AND METHOD FOR DETERMINING BLOCKCHAIN-BASED CRYPTOCURRENCY CORRESPONDING TO SCAM COIN

Organization Name

Digital Asset Evaluation Korea

Inventor(s)

Hak Su Jeong of Gyeonggi-do (KR)

Byung Gue Kim of Seoul (KR)

SYSTEM AND METHOD FOR DETERMINING BLOCKCHAIN-BASED CRYPTOCURRENCY CORRESPONDING TO SCAM COIN - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240029082 titled 'SYSTEM AND METHOD FOR DETERMINING BLOCKCHAIN-BASED CRYPTOCURRENCY CORRESPONDING TO SCAM COIN

Simplified Explanation

The patent application relates to systems and methods for determining a blockchain-based cryptocurrency corresponding to a scam coin. The system includes a service server with a data acquisition unit and a scam determining unit. The data acquisition unit accesses a specified online space and acquires project data, including a first type of project data. The scam determining unit analyzes the acquired data to determine whether a target coin is a scam coin, based on the first type of project data.

  • The patent application describes a system and method for identifying scam coins in the cryptocurrency market.
  • The system includes a service server with a data acquisition unit and a scam determining unit.
  • The data acquisition unit accesses a specific online space and collects project data, including a first type of project data.
  • The scam determining unit analyzes the acquired data to determine whether a target coin is a scam coin.
  • The determination is based on the analysis of the first type of project data.

Potential applications of this technology:

  • This technology can be used by cryptocurrency investors and traders to identify scam coins and avoid fraudulent investments.
  • Cryptocurrency exchanges can utilize this technology to ensure that only legitimate coins are listed on their platforms.
  • Regulatory bodies and law enforcement agencies can use this technology to investigate and take action against scam coin operators.

Problems solved by this technology:

  • Scam coins are a significant problem in the cryptocurrency market, leading to financial losses for investors and damaging the reputation of the industry.
  • This technology provides a systematic and automated approach to identify scam coins, reducing the risk of fraudulent investments.

Benefits of this technology:

  • Investors can make more informed decisions and avoid investing in scam coins, protecting their funds.
  • Cryptocurrency exchanges can maintain the integrity of their platforms by preventing the listing of scam coins.
  • Regulatory bodies and law enforcement agencies can efficiently identify and take action against scam coin operators, improving the overall security and trustworthiness of the cryptocurrency market.


Original Abstract Submitted

embodiments relate to systems and methods for determining a blockchain-based cryptocurrency corresponding to a scam coin, including a service server that includes a data acquisition unit and a scam determining unit. the data acquisition unit is further configured to access a prespecified online space through a communication network and acquire project data including a first type of project data. the scam determining unit is configured to determine whether a target coin is a scam coin by analyzing the acquired data and including a first determining unit configured to determine whether the target coin is a scam coin on the basis of the first type of project data.

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