Related papers: Operational Distributed Regulation for Bitcoin
We present a thorough empirical analysis of market impact on the Bitcoin/USD exchange market using a complete dataset that allows us to reconstruct more than one million metaorders. We empirically confirm the "square-root law'' for market…
Blockchain is a decentralized ledger used to securely exchange digital currency, perform deals and transactions efficient manner, each user of the network has access to the least copy of the encrypted ledger so that they can validate a new…
This paper examines the dynamics of the cryptocurrency market and proposes a novel blockchain-based protocol for real estate transactions. Our analysis includes a detailed review of price trends, volatility, and correlations within the…
We survey recent results on the mathematical stability of Bitcoin protocol. Profitability and probability of a double spend are estimated in closed form with classical special functions. The stability of Bitcoin mining rules is analyzed and…
State government operations comprise a large number of transactions for different processes that must be carried out across the state. This comprises new projects, maintenance and repairs, public employee compensation, and agricultural…
Blockchain provides the unique and accountable channel for financial forensics by mining its open and immutable transaction data. A recent surge has been witnessed by training machine learning models with cryptocurrency transaction data for…
Bitcoin was recently introduced as a peer-to-peer electronic currency in order to facilitate transactions outside the traditional financial system. The core of Bitcoin, the Blockchain, is the history of the transactions in the system…
The functioning of the cryptocurrency Bitcoin relies on the open availability of the entire history of its transactions. This makes it a particularly interesting socio-economic system to analyse from the point of view of network science.…
More than 1000 distributed ledger technology (DLT) systems raising $600 billion in investment in 2016 feature the unprecedented and disruptive potential of blockchain technology. A systematic and data-driven analysis, comparison and…
The wide success of Bitcoin has led to a huge surge of alternative cryptocurrencies (altcoins). Most altcoins essentially fork Bitcoin's code with minor modifications, such as the number of coins to be minted, the block size, and the block…
In recent years decentralized currencies developed through Blockchains are increasingly becoming popular because of their transparent nature and absence of a central controlling authority. Though a lot of computation power, disk space, and…
The philosophy of blockchain technology is concerned, among other things, with blockchain ontology, how it might be characterised, how it is being created, implemented, and adopted, how it operates in the world, and how it evolves over…
Bitcoin's global success has led to the rise of blockchain, but many systems labeled as "blockchain" deviate from its core principles, adding complexity to the ecosystem. This survey addresses the need for a comprehensive review and…
Wash trading, the practice of simultaneously placing buy and sell orders for the same asset to inflate trading volume, has been prevalent in cryptocurrency markets. This paper investigates whether wash traders in Bitcoin act deliberately to…
Attempts to accurately measure the monetary velocity or related properties of bitcoin used in transactions have often attempted to either directly apply definitions from traditional macroeconomic theory or to use specialized metrics…
The aim of this paper is to analyse the Bitcoin in order to shed some light on its nature and behaviour. We select 9 cryptocurrencies that account for almost 75\% of total market capitalisation and compare their evolution with that of a…
The bitcoin price has surged in recent years and it has also exhibited phases of rapid decay. In this paper we address the question to what extent this novel cryptocurrency market can be viewed as a classic or semi-efficient market. Novel…
Over the past decade, the Bitcoin P2P network protocol has become a reference model for all modern cryptocurrencies. While nodes in this network are known, the connections among them are kept hidden, as it is commonly believed that this…
The Bitcoin network is burning a large amount of energy for mining. In this paper we estimate the lower bound for the global energy cost for a period of ten years from 2010, taking into account changing oil costs, improvements in hashing…
We prove Bitcoin is secure under temporary dishonest majority. We assume the adversary can corrupt a specific fraction of parties and also introduce crash failures, i.e., some honest participants are offline during the execution of the…