A currency's essential feature is to be a medium of exchange. This study explores the
potential of cryptocurrencies to be used in daily transactions in El Salvador, the first country …

We establish that cryptocurrency returns are driven and can be predicted by factors that are
specific to cryptocurrency markets. Cryptocurrency returns are exposed to cryptocurrency …

Initial coin offerings (ICOs) have emerged as a new mechanism for entrepreneurial finance,
with parallels to initial public offerings, venture capital, and presale crowdfunding. In a …

We find that three factors—cryptocurrency market, size, and momentum—capture the cross‐
sectional expected cryptocurrency returns. We consider a comprehensive list of price‐and …

We develop a dynamic model of a platform economy where tokens serve as a means of
payment among platform users and are issued to finance investment in platform productivity …

This paper investigates whether Tether, a digital currency pegged to the US dollar,
influenced Bitcoin and other cryptocurrency prices during the 2017 boom. Using algorithms …

We construct a comprehensive dataset on a near universe of non-fungible token (NFT)
transactions, create indices for the NFT market and its components, and analyze their …

Permissionless blockchains require a protocol to generate consensus. Many prominent
permissionless blockchains employ Proof-of-Work (PoW) for that purpose, but PoW …

In this paper, we provide a detailed analysis of the Bitcoin network. We build a novel Bitcoin
database and develop a methodology for identifying information about the main market …

We develop a dynamic asset pricing model of cryptocurrencies/tokens that allow users to
conduct peer-to-peer transactions on digital platforms. The equilibrium price of tokens is …