Search results for "Cryptocurrency"
showing 10 items of 43 documents
Asset Market Equilibria in Cryptocurrency Markets: Evidence from a Study of Privacy and Non-Privacy Coins
2019
This paper explores whether asset market equilibria in cryptocurrency markets exist. In doing so, it distinguishes between privacy and non-privacy coins. Most recently, privacy coins have attracted increasing attention in the public debate as non-privacy cryptocurrencies, such as Bitcoin, do not satisfy some users’ demands for anonymity. Analyzing ten cryptocurrencies with the highest market capitalization in each sub-market in the 2016–2018 period, we find that privacy coins and non-privacy coins exhibit two distinct market equilibria. Contributing to the current debate on the market efficiency of cryptocurrency markets, our findings provide evidence of market inefficiency. Moreover, the a…
Collective Behavior of Price Changes of ERC-20 Tokens
2020
We analyze a network constructed from tokens developed on Ethereum platform. We collect a large data set of ERC-20 token prices; the total market capitalization of the token set is 50.2 billion (109) US dollars. The token set includes 541 tokens; each one of them has a market capitalization of 1 million US dollars or more. We construct and analyze the networks based on cross-correlation of tokens’ returns. We find that the degree distributions of the resulting graphs do not follow the power law degree distribution. We cannot find any hierarchical structures nor groupings of ERC-20 tokens in our analysis. peerReviewed
Contagion of Uncertainty: Transmission of Risk from the Cryptocurrency Market to the Foreign Exchange Market
2019
Earlier research documented that cryptocurrencies, including Bitcoin, have experienced dramatic fluctuations in both market capitalization and market share in recent years. Unsurprisingly, Bitcoin returns exhibit higher volatility than traditional G-10 currencies. Our paper extends earlier research and investigates the potential impact of news originating from the Bitcoin market. Confirming earlier studies, we find that Bitcoin exhibits dramatically higher volatility than the dollar factor. Surprisingly, our findings indicate that only hacking incidents that occur in the Bitcoin market result in high levels of co-movement in the risk of both markets the cryptocurrency and the G-10 currency …
The Blockchain in Microgrids for Transacting Energy and Attributing Losses
2017
In recent years novel models for energy distribu- tion appeared and islanded microgrids quest for new ways to exchange energy between consumers and producers without the need of central authorities. The blockchain mechanism has emerged as a distributed solution for recording energy transactions in power systems. The blockchain has been used to permit users bartering and selling energy and to keep track of such exchanges without exposing them to tampering. In this work, we consider a novel application of the blockchain in islanded microgrids that includes also annotating energy losses caused by energy transactions, in order to have a more realistic matching between the physical status of the…
Statistical Analysis of the (In)efficiency of Bitcoin : A comparison of the weak form efficient market hypothesis in the US and Venezuela
2019
Master's thesis Business Administration BE501 - University of Agder 2019 Bitcoin is a phenomenon that has received a lot of attentionduringthe last years. Although the literature on the subject has expanded, there is still need for more research. This paper replicates the work of Urquhart (2016) and examines whether there isevidence ofweak form efficiency in the Bitcoin market. He found that the Bitcoin market in the US showed signs of moving towards weak form efficiency. We contribute to the existing literature by adding recentdata and comparing two different markets;the USand Venezuela. To obtain robustness of the results, the analysis is conducted by performing six different statistical …
Bitcoin kā norēķinu sistēma Telia Latvija uzņēmumā
2017
Mūsdienu globalizācijas apstākļos arvien vairāk naudas tiek pārskaitīta starptautiskos pārskaitījumos. Šādu pārskaitījumu veikšana izmaksā aptuveni 5% no kopējās pārskaitījuma summas, kā arī tie parasti aizņem vismaz pāris dienas, kas apgrūtina darījumu veikšanu starptautiskā līmenī. Bitcoin ir decentralizēta kriptovalūta, ar kuras palīdzību ir iespējams veikt pārskaitījumus bez distances ierobežojumiem caur internetu. Bitcoin pārskaitījumi parasti izmaksā zem 1% no darījuma summas, un pārskaitījums parasti aizņem 5 – 30 minūtes. Šajā darbā tiek apskatītas iespējas izmantot bitcoin pārskaitījumu sistēmu telekomunikāciju uzņēmuma SIA Telia Latvija interneta pakalpojumu norēķinam. Tiek analiz…
Initial Coin Offering (ICO) as a Fundraising Strategy : A Multiple Case Study on Success Factors
2019
Cryptocurrencies and Initial Coin Offerings (ICO) are some of the more prominent examples of currently used blockchain technology applications. Especially software startups have leveraged ICOs to gain funding early on in their lifecycles, going on to develop and create new blockchain based applications. Recently, larger companies such as Facebook have also begun to show interest in cryptocurrency, although thus far not for funding purposes in the form of ICOs. In this paper, we investigate factors that positively affect the abilities of companies to meet their fundraising goals via ICOs. We first identify a set of factors from extant literature and then seek to further confirm the effect of…
Giełdy Bitcoina w Polsce
2017
W artykule zaprezentowano przyczyny powstania najbardziej znanej waluty cyfrowej na świecie jaką jest Bitcoin oraz przedstawiono funkcjonujące obecne w Polsce giełdy walut cyfrowych, z uwzględnieniem ich kapitalizacji oraz miejsca jakie zajmują na tle innych giełd na świecie. Dokonano analizy aktualnej oferty giełd, skupiając się przede wszystkim na podstawowych różnicach pomiędzy obowiązującymi na nich ofertami, będącymi swoistymi wyróżnikami giełd. Ponadto przedstawiono i porównano również wielkość opłat związanych z korzystaniem z serwisu giełdowego. Zasygnalizowano również niebezpieczeństwa związane z upadkami bądź też atakami hakerskimi na giełdach, skutkującymi w przeważającej mierze …
A Survey on Technologies Which Make Bitcoin Greener or More Justified
2022
According to recent estimates, one bitcoin transaction consumes as much energy as 1.5 million Visa transactions. Why is bitcoin using so much energy? Most of the energy is used during the bitcoin mining process, which serves at least two significant purposes: a) distributing new cryptocurrency coins to the cryptoeconomy and b) securing the Bitcoin blockchain ledger. In reality, the comparison of bitcoin transactions to Visa transactions is not that simple. The amount of transactions in the Bitcoin network is not directly connected to the amount of bitcoin mining power nor the energy consumption of those mining devices; for example, it is possible to multiply the number of bitcoin transactio…
A Novel Optimization for GPU Mining Using Overclocking and Undervolting
2022
Cryptography and associated technologies have existed for a long time. This field is advancing at a remarkable speed. Since the inception of its initial application, blockchain has come a long way. Bitcoin is a cryptocurrency based on blockchain, also known as distributed ledger technology (DLT). The most well-known cryptocurrency for everyday use is Bitcoin, which debuted in 2008. Its success ushered in a digital revolution, and it currently provides security, decentralization, and a reliable data transport and storage mechanism to various industries and companies. Governments and developing enterprises seeking a competitive edge have expressed interest in Bitcoin and other cryptocurrencie…