Central bank digital currencies: motives, economic implications, and the research frontier
In just a few years, central banks have rapidly ramped up their research and development
efforts on central bank digital currencies (CBDCs). A growing body of economic research …
efforts on central bank digital currencies (CBDCs). A growing body of economic research …
Central bank digital currency: When price and bank stability collide
This paper shows the existence of a central bank trilemma. When a central bank is involved
in financial intermediation, either directly through a central bank digital currency (CBDC) or …
in financial intermediation, either directly through a central bank digital currency (CBDC) or …
The microeconomics of cryptocurrencies
Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies, and
blockchains. While the discussions initially took place mostly on blogs and other popular …
blockchains. While the discussions initially took place mostly on blogs and other popular …
Permissioned distributed ledgers and the governance of money
We explore the economics and optimal design of “permissioned” distributed ledger
technology (DLT) in a credit economy. Designated validators verify transactions and update …
technology (DLT) in a credit economy. Designated validators verify transactions and update …
A brief introduction to blockchain economics
We introduce economic research on blockchains and its recent advances. In particular, we
highlight the (i) unifying concepts on blockchain as a decentralized consensus and its core …
highlight the (i) unifying concepts on blockchain as a decentralized consensus and its core …
Central bank digital currency: When price and bank stability collide
This paper shows the existence of a central bank trilemma. When a central bank is involved
in financial intermediation, either directly through a central bank digital currency (CBDC) or …
in financial intermediation, either directly through a central bank digital currency (CBDC) or …
" Zero Cost''Majority Attacks on Permissionless Blockchains
JS Gans, H Halaburda - 2023 - nber.org
The core premise of permissionless blockchains is their reliable and secure operation
without the need to trust any individual agent. At the heart of blockchain consensus …
without the need to trust any individual agent. At the heart of blockchain consensus …
“Zero Cost” Majority Attacks on Permissionless Proof of Work Blockchains
JS Gans, H Halaburda - Management Science, 2024 - pubsonline.informs.org
The core premise of permissionless blockchains is their reliable and secure operation
without the need to trust any individual agent. At the heart of blockchain consensus …
without the need to trust any individual agent. At the heart of blockchain consensus …
[图书][B] Blockchain and cryptocurrencies technologies and network structures: applications, implications and beyond
L Morhaim - 2019 - books.google.com
Blockchain technology is bringing together concepts and operations from several fields,
including computing, communications networks, cryptography, and has broad implications …
including computing, communications networks, cryptography, and has broad implications …
Consensus mechanisms for the blockchain
In this chapter, we discuss the fundamental elements of the design of the blockchain. We
then examine the equilibrium properties of consensus mechanisms for the blockchain under …
then examine the equilibrium properties of consensus mechanisms for the blockchain under …