Related papers: Token vs Equity for Startup Financing
In this paper, I conduct a policy exercise about how much the introduction of a cash transfer program as large as a Norwegian-sized lottery sector to the United States would affect startups. The key results are that public cash transfer…
The rise of blockchain technologies has given a boost to social good projects, which are trying to exploit various characteristic features of blockchains: the quick and inexpensive transfer of cryptocurrency, the transparency of…
Blockchain technology has revolutionized financial markets by enabling decentralized exchanges (DEXs) that operate without intermediaries. Uniswap V2, a leading DEX, facilitates the rapid creation and trading of new tokens, which offer high…
Although Bitcoin has long been dominant in the crypto scene, it is certainly not alone. Ether is another cryptocurrency related project that has attracted an intensive attention because of its additional features. This study seeks to test…
Decentralized storage networks offer services with intriguing possibilities to reduce inequalities in an extremely centralized market. The challenge is to conceive incentives that are fair in regard to the income distribution among peers.…
We consider front-running to be a course of action where an entity benefits from prior access to privileged market information about upcoming transactions and trades. Front-running has been an issue in financial instrument markets since the…
Rapidly growing distributed ledger technologies (DLTs) have recently received attention among researchers in both industry and academia. While a lot of existing analysis (mainly) of the Bitcoin and Ethereum networks is available, the lack…
Payment channels networks drastically increase the throughput and hence scalability of blockchains by performing transactions \emph{off-chain}. In an off-chain payment, parties deposit coins in a channel and then perform transactions…
Blockchain transactions consume diverse resources, foremost among them storage, but also computation, communication, and others. Efficiently charging for these resources is crucial for effective system resource allocation and long-term…
Cryptoeconomic incentives in the form of blockchain-based tokens are seen as an enabler of the sharing economy that could shift society towards greater sustainability. Nevertheless, knowledge of the impact of these tokens on human sharing…
Since the initial launch of Bitcoin by Satoshi Nakamoto in 2009, decentralized digital currencies have long been of major interest in both the academia and the industry. Till today, there are more than 3000 different cryptocurrencies over…
State-of-the-art large language models require specialized hardware and substantial energy to operate. As a consequence, cloud-based services that provide access to large language models have become very popular. In these services, the…
By comparing cryptocurrencies with other existing payment methods, including banknotes and bank cards, it is clear that the use of Bitcoin and its competitors (Ethereum, \dots) is almost insignificant in world trade. We may also note that…
Most permissionless blockchain networks run on peer-to-peer (P2P) networks, which offer flexibility and decentralization at the expense of performance (e.g., network latency). Historically, this tradeoff has not been a bottleneck for most…
We analyze the first and second moment risk premia in the Bitcoin market based on options and realized returns and contrast them to the premia embedded in the main US stock index market. First, Bitcoin is much more volatile and has a higher…
Non-Fungible Tokens (NFTs) are transforming how content creators, such as artists, price and sell their work. A key feature of NFTs is the inclusion of royalties, which grant creators a share of all future resale proceeds. Although widely…
Proof-of-Work (PoW) is the most widely adopted incentive model in current blockchain systems, which unfortunately is energy inefficient. Proof-of-Stake (PoS) is then proposed to tackle the energy issue. The rich-get-richer concern of PoS…
The tokenization of real-world assets (RWAs) promises to transform financial markets by enabling fractional ownership, global accessibility, and programmable settlement of traditionally illiquid assets such as real estate, private credit,…
Blockchain technologies have overturned the digital finance industry by introducing a decentralized pseudonymous means of monetary transfer. The pseudonymous nature introduced privacy concerns, enabling various deanonymization techniques,…
To bring their innovative ideas to market, those embarking in new ventures have to raise money, and, to do so, they have often resorted to banks and venture capitalists. Nowadays, they have an additional option: that of crowdfunding. The…