An analysis of blockchain transactions in bitcoin

• Κύριος συγγραφέας: Θεοχάρης, Σταύρος
• Άλλοι συγγραφείς: Τσαγκαράκης, Μανώλης
• Μορφή: Thesis
• Γλώσσα: English
• Έκδοση: 2018
• Θέματα: Bitcoin; Blockchain; Transactions; Big data; Metcalfe’s law; Zipf’s law; Συναλλαγές; Μεγάλα δεδομένα; Νόμος του Metcalfe; Νόμος του Zipf; 332.178

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.