| Περίληψη: | With the term "cryptocurrency" are referenced digital means of exchange based
on cryptography in order to secure ownership, transactions and the creation of
new units of currency. Today, there are more than 500 different cryptocurrencies.
Bitcoin is the first that came in circulation and the most widely accepted
of these digital currencies. It has since received extensive public attention due
to its large transaction volumes and its price volatility. The way in which Bitcoin
operates, relies on an open-source algorithm, in order to verify every single
transaction that takes place in the network. The decentralized Bitcoin network
integrates all verified transactions in a public ledger (Blockchain). The main scope
of this dissertation is the quantitative analysis of all those transactions included
in the Blockchain so that useful conclusions can be drawn about the use of this
new payment system. Metcalfe’s and Zipf’s laws are also tested. Bitcoin market
capitalization in USD is evaluated in this case, as a factor that determines the
value of the network. Most of the data used in this research are data directly collected
from the Blockchain. The source for market capitalization data and Bitcoin
price data is coindesk.com. All the data are daily from 3/9/2009 (genesis block of
Blockchain) until 5/5/2017.
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