Bitcoin and Beyond-Reference-Cited by-同舟云学术

Bitcoin and Beyond

Published:2022-11-01 Issue:1 Volume:14 Page:95-115
ISSN:1941-1367
Container-title:Annual Review of Financial Economics
language:en
Short-container-title:Annu. Rev. Financ. Econ.

Author:

John Kose¹,O'Hara Maureen²,Saleh Fahad³

Affiliation:

1. Stern School of Business, New York University, New York, NY, USA;

2. Johnson College of Business, Cornell University, Ithaca, New York, USA;

3. School of Business, Wake Forest University, Winston-Salem, North Carolina, USA;

Abstract

We survey extant literature on the economics of blockchain fundamentals, with particular focus on Bitcoin, proof-of-work, and proof-of-stake. We formally clarify Bitcoin's economic significance in solving the double-spending problem without a centralized entity. We then transition to the economics literature, highlighting the key endogenous economic interactions among participants in the Bitcoin ecosystem as well as the economics of proof-of-stake and other potential consensus algorithms. Along the way, we discuss various literature that provides important insights regarding fees, forks, and price volatility. We conclude by reflecting on the next generation of blockchain innovations.

Publisher

Annual Reviews

Subject

Economics and Econometrics,Finance

Link

https://www.annualreviews.org/doi/pdf/10.1146/annurev-financial-111620-011240

Reference49 articles.

1. Footprints on a Blockchain: Trading and Information Leakage in Distributed Ledgers

2. Prism

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