Cryptocurrency Architecture and Interaction With Market Shocks

Medientyp: E-Book

Titel: Cryptocurrency Architecture and Interaction With Market Shocks

Beteiligte: Corbet, Shaen [VerfasserIn]; Larkin, Charles James [Sonstige Person, Familie und Körperschaft]; Lucey, Brian M. [Sonstige Person, Familie und Körperschaft]; Meegan, Andrew [Sonstige Person, Familie und Körperschaft]; Vigne, Samuel [Sonstige Person, Familie und Körperschaft]

Erschienen: [S.l.]: SSRN, [2019]

Umfang: 1 Online-Ressource (46 p)

Sprache: Englisch

DOI: 10.2139/ssrn.3369527

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Anmerkungen: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 10, 2019 erstellt

Beschreibung: Blockchain technology appears to be ready to revolutionise a broad number of industries. However, the blockchain itself contains a number of inefficiencies and areas for improvement, namely: transaction fees and transaction speeds. Directed acyclic graphs (DAGs) address, and improve on these inefficiencies and a number of digital currencies utilising this technology have already begun to appear. This paper provides an explanation of the technology behind DAG-based assets, while identifying and highlighting strategic advantages that DAGs possess over traditional blockchains. We conduct a GARCH volatility analysis of a range of blockchain-based and DAG-based cryptocurrencies in the aftermath of a range of market shocks. We find that DAG-based assets become increasingly responsive to market shocks as they mature. Such behavior mirrors that of established cryptocurrencies such as Bitcoin, Ethereum and Litecoin, providing evidence that DAG-based cryptocurrencies now share similar characteristics to traditional blockchain-chain based products

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