Welcome back to Coding Tech Tuesdays 😎! It is the 8th installment in the series. Today we will be covering the different types of inheritance, and a the biggest scam in the world of cryptocurrencies (OneCoin)!

Coding Concepts 🧑‍💻:

• I will be covering the different types of inheritance this week!

• A quick recap of what inheritance is: Inheritance allows you to derive the properties of one class in a subclass, meaning that a “child” class derives its properties from the “parent” class.

• As I have told you before, there are many different types of inheritance, illustrated below:

  

• Single inheritance is the most basic form of inheritance, where a sub-class inherits the properties of a parent class. Here is an example of Single Inheritance:

  

  • In the example above, the “Dog” class is inheriting the “Animal” class. All “Dog”s can “eat”, “sleep”, or “bark”, but not all “Animal”s can “bark”.

• In hierarchal inheritance, multiple sub-classes derive properties from a parent class, and there may be a “hierarchy”, in that several subclasses may derive from the others. (Do not confuse this with multiple inheritance, in which a subclass derives it’s properties from several parent classes). Here is is an example of hierarchal inheritance:

• Multilevel inheritance involves multiple base classes inheriting their properties from a singular parent class, all in a singular hierarchy (Do not confuse with hierarchal inheritance, where the there are multiple subclasses. Here, there is only one.) This type of inheritance closely resembles the feudalism pyramid prominent in Europe between the 9th and 15th centuries. (You can use this example to remember multilevel inheritance). Here is an example of multilevel inheritance:

• Hybrid inheritance is when subclasses use a mix of different types of inheritance. Here is an example of Hybrid Inheritance, which uses a mix of Multilevel and Single inheritance.

  

• Multiple inheritance consists of a subclass inheriting properties from two parent classes. (Again, do not confuse this with Hierarchal inheritance, as this is the inversion of Hierarchal Inheritance.) Here is an example of multiple inheritance:

  

• That is the basic list of the different types of inheritance!

• Next week, we will be implementing these in C++ to see the practical examples!

Your Weekly Dose of Tech News 🗞️:

• The UN is Working on a Way to Send Refugees Cryptocurrency

  • During the Ukraine War, it has been difficult to send war refugees help and aid during the war.

  • Though cash may seem like a good idea, with it come logistical and ethical issues, for example the spending of cash on pleasure goods like alcohol as well as the difficulty of transporting cash and dispersing it properly.

  • The UN is working with cryptocurrency companies to allow direct cryptocurrency payments during the war for aid.

Failed Businesses/Scam of the Week 🚀:

• OneCoin

  • This week we are looking at a cryptocurrency scam called OneCoin.

  • OneCoin was a Ponzi scheme which managed to pull in a total of $4 billion USD.

    • A Ponzi scheme is when investors are tricked into believing something will earn them money. The initial investors earn money from the next set of investors, and they earn from the next set, until the pool of new investors keeps getting bigger and bigger.

  • OneCoin was used MLM (Multi-Level Marketing), meaning that old buyers were paid to recruit new ones.

  • The cofounders, Ruja Ignatova and Sebastian Greenwood, managed to convince the public that this was a viable investment, though OneCoins could not be used as currency and had no real-world applications.

  • As time went by, rumors started to appear that OneCoin was not even a cryptocurrency on the blockchain, it used an SQL table instead.

  • The company’s main business involved selling mostly plagiarized courses, and it also had an exchange called xcoinx. However, there was no proper wallet or even a blockchain for OneCoin, though the owners claimed otherwise.

  • The company also claimed that it became the first cryptocurrency to be licensed by the Vietnamese government, but the government rebutted the claim.

  • After reaching a worth of $4 billion USD, and becoming the biggest cryptocurrency scam ever, the company’s office in Bulgaria got raided by the Bulgarian police in 2018. The founder, Ruja Ignatova disappeared in 2017, making her brother the new manager and face of the company. The cofounder, Sebastian, was arrested in 2018, and Ruja has disappeared since.

  • Here is an article I highly recommend if you want to read more on the scam: https://www.investopedia.com/terms/o/onecoin.asp

The is the end of today’s newsletter! Next week I will be showing you how to implement the different types of inheritance in C++! We will have more news about the newsletter next Tuesday.