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Open Access Knowledge and Scholarship

Culminating Project Title

Creating A Fake Cryptocurrency Unit

Date of Award


Culminating Project Type

Starred Paper

Degree Name

Information Assurance: M.S.


Information Assurance and Information Systems


Herberger School of Business

First Advisor

Dennis C. Guster

Second Advisor

Lynn A. Collen

Third Advisor

Balasubramanian Kasi

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.


In the recent years, cryptocurrencies gained lots of popularity. Many new cryptocurrencies are introduced day by day. Though new cryptocurrencies are being introduced, they are based on the same Blockchain technology. Cryptocurrencies are virtual currencies and differ from traditional money in a way which made them very popular among the users. Bitcoin which was the first cryptocurrency introduced by Satoshi Nakamoto in late 2008 as a Peer-to-Peer Electronic cash system. The most important feature of this system was that it was de-centralized meaning that there is no centralized authority controlling the payment network. Instead, every single entity of the network realizes all the tasks of the centralized server. Cryptocurrencies rely on miners who verify the transactions and add the block to the blockchain. Miners depend on high computation power to solve a mathematical problem following a mining algorithm which also rewards them with some cryptocurrency.

This paper provides a comprehensive overview of the technology behind cryptocurrencies and explores the security and privacy issues that are involved with cryptocurrencies and introduces a mechanism to create fake cryptocurrency units.