Cryptocurrencies: Concept and Current Market Structure

Octavian Nica, Karolina Piotrowska and Klaus Schenk-Hoppé

Chapter 1 in Cryptofinance:A New Currency for a New Economy, 2021, pp 1-28 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Since the creation of Bitcoin in 2009, hundreds of cryptocurrencies have emerged, thus becoming a common fixture of financial news bulletins. With a market capitalization of the five highest-valued cryptocurrencies exceeding $140 billion at the time of writing, these alternative currencies have caught the attention of both financial institutions and central banks with their innovative technological foundations and their potential to disrupt current financial institutional structures. We provide a non-technical overview of the concept and current market structure of cryptocurrencies for researchers in economics, finance, mathematics and computer science.

Keywords: Cryptocurrencies; Digital Currencies; Bitcoin; Blockchain; Fintech; Tokenization; BitLicense; Crypto-Asset (search for similar items in EconPapers)
JEL-codes: G1 G11 (search for similar items in EconPapers)
Date: 2021
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