Cryptocurrencies like Bitcoin, Ethereum and are high volatility digital commodities, so using them as an alternative to trading investments is very dangerous. Volatility analysis, portfolio ...formation, and implementation forecasts need to be carried out to minimize risk levels and risk management to help investors/traders make decisions. If you estimate, its use is suitable for analyzing the returns and volatility of cryptocurrencies. The Metode used in this study are methods of converting data into returns, detecting constancy with the ADF test, and normality testing with the JarqueBera test. The result of this study is that there are differences in the rate of return on bitcoin and ethereum coins every year, in these two crypto coins have experienced a very significant increase from before the covid 19 pandemic to covid 19. The result of this study is that there are differences in the rate of return on bitcoin and ethereum coins every year, in these two crypto coins have experienced a very significant increase from before the covid 19 pandemic to covid 19.
Cryptocurrencies and blockchain have become a global phenomenon, transforming people's relationships with technology and offering innovative tools for businesses and individuals to strive in a ...digital age. However, little is still known about the main drivers of cryptocurrency ownership, especially in emerging markets. Based on a representative online survey among 573 Brazilian digital platform investors, we find that crypto investors tend to be young, male, more tolerant to risk, less optimistic in their economic views, and consider themselves as ‘better’ investors compared to non-crypto online traders. While crypto and non-crypto investors have similar edu-cational backgrounds, our results show that cryptocurrency literacy positively and strongly relates to cryptocurrency ownership and intentions to invest in cryptocurrency. A gender gap among cryptocurrency investors has been confirmed. The findings further suggest that sophisticated in-vestors are more likely to hedge pessimistic economic expectations using cryptocurrency than their unsophisticated peers. We also find significant heterogeneity among cryptocurrency investors (e.g., early x late adopters) on attitudes and beliefs. The insights into digital investors' intentions to invest in cryptocurrency can be valuable for policymakers in designing strategies for the broader adoption of digital assets in the era of a decentralized economy, considering the planned adoption of CBDC in Brazil.
•We conduct a comprehensive online survey among 573 Brazilian digital platform investors.•Crypto investors tend to be young, male, and more risk tolerant compared to non-crypto traders.•Crypto investor consider themselves ‘better’ investors compared to non-crypto traders.•A gender gap among cryptocurrency investors has been confirmed.•Cryptocurrency literacy positively relates to cryptocurrency ownership and intentions to invest in cryptocurrency.•Sophisticated investors are more likely to hedge pessimistic economic expectations using cryptocurrency.
Researchers have only recently begun investigating the associations between cryptocurrency and gambling, although the structural similarities of financial speculation and gambling and the risks for ...transferring harmful behavior from one activity to another have been subject to numerous studies in the past decade. This is noticeable since the societal relevance of cryptocurrencies steadily increases. Based on a survey from 2019, this study analyzed a representative sample of 3864 Germans regarding their cryptocurrency and gambling use. The aim of the study was to determine differentiating factors between sole gamblers, sole cryptocurrency users and users of both as well as to uncover the socioeconomic profiles and behavioral patterns of the latter group. It was found that cryptocurrency users who also gamble are mostly young, male, well-educated and well-off and report significantly higher levels of domain-specific knowledge, ideological motivation and trust-perceptions about cryptocurrency as compared to the other groups. Using cluster analysis, the behavioral patterns of three distinct user groups were revealed, which differ by the intensity of their cryptocurrency involvement across mental, proactive and financial aspects. The observation that a considerable number of this technology-savvy population of users is considered heavy users indicates potential risks of over-involvement. The findings provide researchers and regulators with an improved understanding of the phenomenon of cryptocurrency and the psychological involvement of users.
•Crypto-gamblers’ involvement with cryptocurrency is more intense than for sole users.•Users of both are mostly young, well-educated, financially well-off and risk-affine.•Three user groups among crypto-gamblers were uncovered via cluster analysis.•A sizeable share of crypto-gamblers was identified as heavy users.•Differentiating factors across the clusters were speculation and ideological motivation.
Since its inception, the blockchain technology has shown promising application prospects. From the initial cryptocurrency to the current smart contract, blockchain has been applied to many fields. ...Although there are some studies on the security and privacy issues of blockchain, there lacks a systematic examination on the security of blockchain systems. In this paper, we conduct a systematic study on the security threats to blockchain and survey the corresponding real attacks by examining popular blockchain systems. We also review the security enhancement solutions for blockchain, which could be used in the development of various blockchain systems, and suggest some future directions to stir research efforts into this area.
•We conduct the first systematic examination on security risks to popular blockchain systems.•We survey the real attacks on blockchain systems and analyze related vulnerabilities exploited.•We summarize practical academic achievements for enhancing the security of blockchain.•We suggest a few future directions in the area of blockchain security.
Since the year of 2022 was marked by many significant and rapid changes on the cryptocurrencies market, this comparative study explores perceptions of Romanian students about cryptocurrencies before ...and after the market collapse. A qualitative approach has been used to understand attitudes towards cryptocurrencies in March 2022 (when prices of most cryptocurrencies were higher) and then the same study was conducted during August-November 2022 (when the prices of most cryptocurrencies were lower after a dropout in prices that lasted all throughout the summer). Descriptive and inferential statistics were used to compare the results. Our findings show that cryptocurrencies were associated with more negative words in the second wave of the study, but surprisingly, the willingness to invest in such assets did not change that much. However, the willingness to invest seemed to be influenced by how secure/trustworthy respondents perceived cryptocurrencies. Implications and future research suggestions are finally discussed.
Since the year of 2022 was marked by many significant and rapid changes on the cryptocurrencies market, this comparative study explores perceptions of Romanian students about cryptocurrencies before ...and after the market collapse. A qualitative approach has been used to understand attitudes towards cryptocurrencies in March 2022 (when prices of most cryptocurrencies were higher) and then the same study was conducted during August-November 2022 (when the prices of most cryptocurrencies were lower after a dropout in prices that lasted all throughout the summer). Descriptive and inferential statistics were used to compare the results. Our findings show that cryptocurrencies were associated with more negative words in the second wave of the study, but surprisingly, the willingness to invest in such assets did not change that much. However, the willingness to invest seemed to be influenced by how secure/trustworthy respondents perceived cryptocurrencies. Implications and future research suggestions are finally discussed.
Smart contract technology is reshaping conventional industry and business processes. Being embedded in blockchains, smart contracts enable the contractual terms of an agreement to be enforced ...automatically without the intervention of a trusted third party. As a result, smart contracts can cut down administration and save services costs, improve the efficiency of business processes and reduce the risks. Although smart contracts are promising to drive the new wave of innovation in business processes, there are a number of challenges to be tackled. This paper presents a survey on smart contracts. We first introduce blockchains and smart contracts. We then present the challenges in smart contracts as well as recent technical advances. We also compare typical smart contract platforms and give a categorization of smart contract applications along with some representative examples.
•Opportunities of smart contracts for industrial internet of things.•Lifecycle and platforms of smart contracts.•Applications of smart contracts.•Challenges and advances of smart contracts.
At present, cryptocurrencies have become a global phenomenon in financial sectors, as it is one of the most traded financial instruments worldwide. Cryptocurrency is not only one of the most ...complicated and abstruse fields among financial instruments but also deemed as a perplexing problem in finance due to its high volatility. This work makes an attempt to apply machine learning techniques on the index and constituents of cryptocurrency with a goal to predict and forecast prices thereof. In particular, the purpose of this article is to predict and forecast the close (closing) price of the cryptocurrency index 30 and nine constituents of cryptocurrencies using machine learning algorithms and models so that it becomes easier for people to trade these currencies. We have used several machine learning techniques and algorithms and compared the models with each other to get the best output. We believe that our work will help reduce the challenges and difficulties faced by people who invest in cryptocurrencies. Moreover, the obtained results can play a major role in cryptocurrency portfolio management and in observing the fluctuations in the prices of constituents of cryptocurrency market. We have also compared our approach with similar state of the art works from the literature, where machine learning approaches have been considered for predicting and forecasting the prices of these currencies. In the sequel, we have found that our best approach presents better and competitive results (especially by using ensemble learning method) than the best works from the literature thereby advancing the state of the art. Using such prediction and forecasting methods, people can easily understand the trend and it would be even easier for them to trade in a difficult and challenging financial instrument like cryptocurrency.
Cryptocurrency is an emerging digital currency that revolutionized the transactional economy. It was valued at $2.2 trillion in April 2021, suggesting the widespread acceptance and usage of the ...currency. It penetrated numerous sectors including entertainment, infrastructure, healthcare, public sector, agriculture, financial services, travel, retail and information services. Recently these sectors started the practice of compensating employees in cryptocurrency (coins/tokens). This research explored the viability of compensating employees in crypto, across various components of compensation structure. This qualitative informative-exploratory research used the principles from the PRISMA model to screen 8,621 scholarly publications and reviewed 26 research publications and 23 companies using crypto for compensating employees. Content analysis and thematic analysis were conducted to report the findings. This research found that multinational organisations prefer to compensate global employees in crypto because of several advantages including ease of transfer, encrypted features, integration of blockchain technology, tax benefits, cost-saving and gain from crypto investments. Limiting factors such as the bartering nature of crypto, high volatility, tax regulations, limited investment avenues, resistance from employees and the market and concerns over its legality posed some doubts on its viability as a mode of payment. This study is of value to compensation and benefits experts, human resources professionals, finance professionals, scholars, and organisations who are interested in evolving technologies adding value to employees and businesses. This research added a new piece of knowledge concerning paying employees in crypto-currency that remained understudied until now.
•This paper constructed volatility spillover network using high-frequency data.•Cryptocurrencies show greater bad volatility spillover received from other cryptocurrencies than good volatility ...spillover.•The impact of shock direction on inflows is less significant compared to outflows.•Good volatility spillover is significantly higher than bad volatility during periods of high risk spillover.•The trend of good volatility spillover is particularly evident during specific crises.
Unlike conventional studies on the risk dynamics of cryptocurrency markets, this paper innovatively distinguishes between good and bad volatility to more accurately measure the market's risk spillover under both good and bad shocks. By constructing a network of cryptocurrency market risk spillovers, we delve into the asymmetry between good and bad volatility in the context of risk spillover. Specifically, this study focuses on the risk spillover characteristics during the LUNA and the FTX crises, aiming to uncover the unique manifestations of market risk during this tumultuous period. We find that, overall, the risk spillover from bad volatility tends to exceed that from good volatility. However, at higher levels of risk spillover, the spillovers from good volatility significantly exceed those from bad ones. This observation substantiates the notion that spillovers from good volatility are more likely to accumulate risks, potentially triggering a crisis. This research not only aids investors in better understanding the risk structure of the cryptocurrency market but also provides regulatory bodies with a reference for formulating risk control strategies, thereby holding significant implications for the healthy development of the cryptocurrency market.
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