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Blockchain Tokens and Cryptocurrencies
Published in Shaun Aghili, The Auditor's Guide to Blockchain Technology, 2023
Lavanya Vaddi, Jaskaran Singh Chana, Gurjot Singh Kocher
Ether is the digital money of Ethereum. Ethereum was conceived in 2015 by the Russian-born Canadian, Vitalik Buterin. Ethereum is a platform where users can develop and execute applications called decentralized applications (DApps) [4]. DApps are hosted on Ethereum which can be used to pay for services like social media, gaming and finance. Every DApp has a different token, which can be purchased with Ether. Decentralized finance, also known as DeFi, came to birth because of Ethereum. DeFi coins are used in which protocols run on smart contracts that run on Ethereum [40]. At the time of this writing, Ethereum can create a new block in just 14 to 15 seconds, with plans for major performance improvements in the near future. A major difference between Bitcoin and Ethereum is that Bitcoin focuses on being a worldwide decentralized digital currency, while Ethereum is a decentralized computing platform. As mentioned before, due to the occurrence of a fork in 2017, the Ethereum platform was split into two: Ethereum and Ethereum Classic. The Ethereum platform follows a peer-to-peer architecture which results in high security and fault tolerance [4, 38].
Blockchain Applications and Implementation
Published in Brojo Kishore Mishra, Sanjay Kumar Kuanar, Sheng-Lung Peng, Daniel D. Dasig, Handbook of IoT and Blockchain, 2020
Deepak Kumar Sharma, Tushar Pardhe, Yash Kulshreshtha, Shivani Singh
DAO, a decentralized autonomous organization, raised a record 150 million in crowdsale to fund the project in 2016. In the same year an unknown hacker removed 50 million ether in June from DAO. A debate among the crypto community was started by this incident over whether Ethereum will reuse the funds involved by creating a controversial “hard fork”. Due to this whole controversy, the Ethereum network was split into two parts. Ethereum, which we are discussing, continued on the forked blockchain, while the original blockchain continued by the name Ethereum Classic. This Hard Fork strategy started a rivalry between these two blockchain networks. After a tough and critical situation involving DAO again, Ethereum had to be split twice in the last three months of 2016 to counter other attacks. After that Ethereum had to increase DDoS protection, bearing the blockchain and preventing spam attacks by hackers by the start of December 2016.
An Empirical Study on Herd Behavior in Cryptocurrency Trading
Published in Journal of Computer Information Systems, 2023
The results from the cap-weighted method show that whether there is an upturn or downturn, there is strong herd behavior present in the 8-cryptocurrency sample set and the first upward period of the 5-cryptocurrency sample set. Under the cap-weighted method, the research results show that the herd behavior is significant and that it is only present during the second downward period in the 8-cryptocurrency sample set. The 8-cryptocurrency sample set consists of bitcoin, Ethereum, Ripple, Litecoin, Stellar, Monero, Dash and Ethereum Classic. Results also show the weak herd behavior present in the 5-cryptocurrency sample set, which includes bitcoin, Ethereum, Ripple, Dogecoin and Litecoin. Only Dogecoin was listed in 2013, and the rest of the cryptocurrencies were listed after 2014, when the price of the cryptocurrency did not exceed $100.
Affordances in blockchain-based financial recommendations concerned with life events and personalities
Published in Enterprise Information Systems, 2022
Ildikó Szabó, Katalin Ternai, Szabina Fodor
All blockchain-based financial products and applications can play a role in the implementation of this architecture. The main drawback is that they are implemented on heterogeneous networks. Košt’ál (Košt’ál 2020) claims that investigating interoperability among heterogeneous networks is a trendy topic. Design affordances (i.e., high data quality, data conformity and data integrity) reside in developing a multichain framework. Polkadot is the most cited multichain framework in the literature. Rather than focusing on a single chain that provides varying degrees of generality of potential applications, it enables a scalable heterogeneous multichain. In this sense, Polkadot can be considered equivalent to a set of independent chains (e.g., a set containing Ethereum, Ethereum Classic, and Namecoin), except for two very important features: pooled security and trust-free interchain transactability’ (Wood 2016).