The Bitcoin Blockchain Protocol - A Viable Payment System or Another Tulip Mania
2018; RELX Group (Netherlands); Linguagem: Inglês
10.2139/ssrn.3294888
ISSN1556-5068
Autores Tópico(s)Blockchain Technology Applications and Security
ResumoBitcoin is a decentralized cryptocurrency operating on a pubic distributed ledger called the blockchain. Its main innovation is that it does not require a central bank or any central authority for its operation. In recent years, the Bitcoin protocol has attracted increasing attention and many believe that it can replace conventional payment systems. In this article, I will use game theory and auction theory methods to determine whether this protocol is a viable payment system, or is it just another “Tulip Mania” trend that will eventually disappear.
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