Although blockchain technology and cryptocurrencies have grown in popularity over the past years, there does not seem … blockchain provides is commitment. I develop a model of an entrepreneur, who can create a network for her users. She can decide … network with a decentralized implementation through the blockchain. Users that join the network are subject to a locked …

We study to what extent the Bitcoin blockchain security permanently depends on the underlying distribution of … cryptocurrency market outcomes. We use daily blockchain and Bitcoin data for 2014-2019 and employ the ARDL approach. We test three … equilibrium hypotheses: (i) sensitivity of the Bitcoin blockchain to mining reward; (ii) security outcomes of the Bitcoin …

This paper studies to what extent the cost of operating a proof-of-work blockchain is intrinsically linked to the cost … and mining costs, and blockchain security outcomes. Using daily crypto market data for 2014-2021 and employing the … autoregressive distributed lag approach - that allows treating all the relevant moments of the blockchain series as potentially …

with blockchain-enabled credibility based on economic consensus. The key results set out the conditions under which the …