Blockchain is a disruptive, decentralized, replicable, distributed ledger technology with the
potential to change the conventional business landscape in banking and finance. This study …

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 …

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

The intersection of finance and technology, known as fintech, has resulted in the dramatic
growth of innovations and has changed the entire financial landscape. While fintech has a …

The rise of centralized mining pools for risk sharing does not necessarily undermine the
decentralization required for blockchains: because of miners' cross-pool diversification and …

We model cryptocurrencies as utility tokens used by a decentralized digital platform to
facilitate transactions between users of certain goods or services. The network effect …

We present the first systematic approach to detect fake transactions on cryptocurrency
exchanges by exploiting robust statistical and behavioral regularities associated with …

We investigate the market microstructure of Automated Market Makers (AMMs), the most
prominent type of blockchain-based decentralized exchanges. We show that the order …

We examine decentralization of digital platforms through tokenization as an innovation to
resolve the conflict between platforms and users. By delegating control to users, tokenization …

Initial coin offerings (ICOs) are an emerging form of fundraising for blockchain-based
startups. We examine how ICOs can be leveraged in the context of asset tokenization …