A sample of 1,587 stablecoin transfers of one million dollars or more is analyzed to find out how they affect Bitcoin returns and trading volume. We find effects on trading volume and returns in the hours around transfers. The findings illustrate the feedback effects between cryptocurrency markets and stablecoin usage.
Public blockchains like Bitcoin and Ethereum continue to have an exaggerated influence on the overall perception of blockchain technology. As a consequence, trustlessness is often presented as the central characteristic of blockchain: It is claimed that blockchain designers must assume that users do not trust each other and that there is no trusted third party.
We study an unintended alternative to peer-to-peer propagation: Exclusive mining. Exclusive mining is a type of collusion between a transaction initiator and a single miner (or mining pool). The initiator sends transactions through a private channel directly to the miner instead of propagating them through the peer-to-peer network.
This paper presents a corresponding framework for analyzing and designing blockchain systems in the supply chain sector. It outlines the benefits of blockchain technology, provides guidance on deriving requirements from the use case, and distills critical implementation features.
We analyze the influence of stablecoin issuances on the returns of major cryptocurrencies across 565 issuance events of $1 million or more for seven different stablecoins on four different blockchains between April 2019 and March 2020.
This paper provides an in-depth analysis of all OP Return transactions published on Bitcoin between September 14, 2018, and December 31, 2019. The 32.4 million OP Return transactions (22% of all Bitcoin transactions) published during...