Transcription of Understanding Cryptocurrencies
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Understanding Cryptocurrencies
IRTG 1792 Discussion Paper 2018-44 Understanding Cryptocurrencies Wolfgang Karl H rdle* Campbell R. Harvey * Raphael C. G. Reule * * Humboldt-Universit t zu Berlin, Germany. Wang Yanan Institute for Studies in Economics, Xiamen University, China. Sim Kee Boon Institute for Financial Economics, Singapore Management University, Singapore. Faculty of Mathematics and Physics, Charles University, Czech Republic. * Duke University, Durham, NC, USA. National Bureau of Economic Research, Cambridge MA, USA. *3 Humboldt-Universit t zu Berlin, Germany. This research was supported by the Deutsche Forschungsgemeinschaft through the International Research Training Group 1792 "High Dimensional Nonstationary Time Series". ISSN 2568-5619 International Research Training Group 1792 Understanding CryptocurrenciesWolfgang Karl H ardleHumboldt-Universit at zu Berlin, Yanan Institute for Studies in Economics, Xiamen University, Kee Boon Institute for Financial Economics, Singapore Management University, of Mathematics and Physics, Charles University, Czech [at] R.
(a) Centralized (b) Decentralized (c) Distributed Figure 1: Types of networks. All presented numerical and pictoral examples shown are reproducible and can be found on www.quantlet.de (Borke and H ardle, 2018). 2.2 Hashing A hash function is a one-way mathematical algorithm that takes an input and transforms
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