Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/230755
Authors: 
Härdle, Wolfgang Karl
Harvey, Campbell R.
Reule, Raphael C. G.
Year of Publication: 
2018
Series/Report no.: 
IRTG 1792 Discussion Paper No. 2018-044
Abstract: 
Cryptocurrencies refer to a type of digital cash that use distributed ledger - or blockchain technology - to provide secure transactions. These currencies are generally misunderstood. While initially dismissed as fads or bubbles, many large central banks are considering launching their own version of national cryptocurrencies. In contrast to most data in nancial economics, there is a plethora of detailed (free) data on the history of every transaction for the cryptocurrency complex. Further, there is little empirically-oriented research on this new asset class. This is an extraordinary research opportunity for academia. We provide a starting point by giving an insight into cryptocurrency mechanisms and detailing summary statistics and focusing on potential future research avenues in nancial economics.
Subjects: 
Cryptocurrency
Blockchain
Bitcoin
Economic bubbles
Peer-to-Peer
Cryptographic hashing
Consensus
Proof-of-Work
Proof-of-stake
Volatility
JEL: 
C01
C58
E42
E51
G10
K24
K42
L86
O31
Document Type: 
Working Paper

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