Blockchain Mechanism and Distributional Characteristics of Cryptos ∗
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Peer Co-Movement in Crypto Markets
Peer Co-Movement in Crypto Markets G. Schwenkler and H. Zheng∗ February 4, 2021y Abstract We show that peer linkages induce significant price co-movement in crypto markets in excess of common risk factors and correlated demand shocks. When large abnormal return shocks hit one crypto, its peers experience unusually large abnormal returns of the opposite sign. These effects are primarily concentrated among smaller peers and revert after several weeks, resulting in predictable returns. We develop trading strategies that exploit this rever- sal, and show that they are profitable even after accounting for trading fees and frictions. We establish our results by identifying crypto peers through co-mentions in online news using novel natural language processing technologies. Keywords: Cryptocurrencies, peers, co-movement, competition, natural language pro- cessing. JEL codes: G12, G14, C82. ∗Schwenkler is at the Department of Finance, Santa Clara University Leavey School of Business. Zheng is at the Department of Finance, Boston University Questrom School of Business. Schwenkler is corresponding author. Email: [email protected], web: http://www.gustavo-schwenkler.com. yThis is a revision of a previous paper by the two authors called \Competition or Contagion: Evidence from Cryptocurrency Markets." We are grateful to Jawad Addoum (discussant), Daniele Bianchi (discussant), Will Cong, Tony Cookson, Sanjiv Das, Seoyoung Kim, Andreas Neuhierl, Farzad Saidi, and Antoinette Schoar, seminar participants at Boston University and the Society for Financial Econometrics, and the participants at the 2020 Finance in the Cloud III Virtual Conference, the 2020 MFA Annual Meeting, the 3rd UWA Blockchain, Cryptocurrency and FinTech Conference, and the 2020 INFORMS Annual Meeting for useful comments and suggestions. -
YEUNG-DOCUMENT-2019.Pdf (478.1Kb)
Useful Computation on the Block Chain The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Yeung, Fuk. 2019. Useful Computation on the Block Chain. Master's thesis, Harvard Extension School. Citable link https://nrs.harvard.edu/URN-3:HUL.INSTREPOS:37364565 Terms of Use This article was downloaded from Harvard University’s DASH repository, and is made available under the terms and conditions applicable to Other Posted Material, as set forth at http:// nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of- use#LAA 111 Useful Computation on the Block Chain Fuk Yeung A Thesis in the Field of Information Technology for the Degree of Master of Liberal Arts in Extension Studies Harvard University November 2019 Copyright 2019 [Fuk Yeung] Abstract The recent growth of blockchain technology and its usage has increased the size of cryptocurrency networks. However, this increase has come at the cost of high energy consumption due to the processing power needed to maintain large cryptocurrency networks. In the largest networks, this processing power is attributed to wasted computations centered around solving a Proof of Work algorithm. There have been several attempts to address this problem and it is an area of continuing improvement. We will present a summary of proposed solutions as well as an in-depth look at a promising alternative algorithm known as Proof of Useful Work. This solution will redirect wasted computation towards useful work. We will show that this is a viable alternative to Proof of Work. Dedication Thank you to everyone who has supported me throughout the process of writing this piece. -
Crypto Daily Report – June 9
This document is being provided publicly in the following form. Please subscribe to FSInsight.com for more. Members Area Crypto Daily Crypto Daily Report – June 9 Crypto Daily Crypto Daily Report – June 9 June 9 FSInsight Team Crypto Daily Report The Most Important Daily Data for Digital Assets Daily Analysis from FSInsight June 9, 2021 Late Tuesday evening, lawmakers in El Salvador's Congress voted by a supermajority in favor of making bitcoin legal tender. The law allows for the prices of goods and services to be denominated and paid in BTC, and perhaps more notably, exempts any exchanges in bitcoin from capital gains tax. Coinbase (Nasdaq: COIN) revealed Tuesday that its institutional holdings grew 170% from $45 billion to $122 billion in Q1 2021 as demand skyrocketed alongside the latest crypto bull run. The Company has over 8,000 institutional clients, many of which use its Coinbase Custody product. Crypto exchange Gemini acquired custody specialist Shard X for an undisclosed amount on Wednesday morning. Gemini COO, Noah Perlman, stated that the acquisition will enable Gemini " to meet the current demand for fast withdrawals, interacting with DeFi staking, or the transferring of digital assets with greater efficiency." Daily Important Metrics CRYPTO SIZE SENTIMENT BULLISH SIGNAL Bullish signal is tied to the crypto market growing Market Cap $1.5T +$42B ( +2.79% ) BTC Dominance 41.64% ( +1.49% ) STABLE COINS FUTURES CME BULLISH SIGNAL A positive spread between Futures Prices and Spot BULLISH SIGNAL Prices is Bullish Increase in circulating -
User Manual Ledger Nano S
User Manual Ledger Nano S Version control 4 Check if device is genuine 6 Buy from an official Ledger reseller 6 Check the box contents 6 Check the Recovery sheet came blank 7 Check the device is not preconfigured 8 Check authenticity with Ledger applications 9 Summary 9 Learn more 9 Initialize your device 10 Before you start 10 Start initialization 10 Choose a PIN code 10 Save your recovery phrase 11 Next steps 11 Update the Ledger Nano S firmware 12 Before you start 12 Step by step instructions 12 Restore a configuration 18 Before you start 19 Start restoration 19 Choose a PIN code 19 Enter recovery phrase 20 If your recovery phrase is not valid 20 Next steps 21 Optimize your account security 21 Secure your PIN code 21 Secure your 24-word recovery phrase 21 Learn more 22 Discover our security layers 22 Send and receive crypto assets 24 List of supported applications 26 Applications on your Nano S 26 Ledger Applications on your computer 27 Third-Party applications on your computer 27 If a transaction has two outputs 29 Receive mining proceeds 29 Receiving a large amount of small transactions is troublesome 29 In case you received a large amount of small payments 30 Prevent problems by batching small transactions 30 Set up and use Electrum 30 Set up your device with EtherDelta 34 Connect with Radar Relay 36 Check the firmware version 37 A new Ledger Nano S 37 A Ledger Nano S in use 38 Update the firmware 38 Change the PIN code 39 Hide accounts with a passphrase 40 Advanced Passphrase options 42 How to best use the passphrase feature 43 -
Pdf [2] Popper, N
Journal of Mathematical Finance, 2021, 11, 495-511 https://www.scirp.org/journal/jmf ISSN Online: 2162-2442 ISSN Print: 2162-2434 The Investors’ Behavior towards the Relationship between Bitcoin, Litcoin, Dash Coins, and Gold: A Portfolio Modeling Approach Asma Maghrebi, Fathi Abid Department of Management, Faculty of Economics and Management, Sfax, Tunisia How to cite this paper: Maghrebi, A. and Abstract Abid, F. (2021) The Investors’ Behavior towards the Relationship between Bitcoin, This study considers a market-based economy that is composed of two asset Litcoin, Dash Coins, and Gold: A Portfolio classes: one is a digital, cryptocurrency, and the other is real, gold. We dem- Modeling Approach. Journal of Mathemat- onstrated that coins like (BTC, LTC, and DASH) can substitute a traditional ical Finance, 11, 495-511. https://doi.org/10.4236/jmf.2021.113028 safe haven “gold” in an intertemporal investment portfolio to become a new form of safe haven. The cryptocurrency follows a Jump-diffusion process. How- Received: June 29, 2021 ever, gold prices follow an Ornstein-Uhlenbek process to characterize the Accepted: August 16, 2021 stochastic nature of the market. The stochastic optimal control approach, Published: August 19, 2021 combined with the strategic asset allocation and the intertemporal utility Copyright © 2021 by author(s) and theory, are used through the derivation of a Hamilton-Jacobi-Bellman (HJB) Scientific Research Publishing Inc. equation to determine an explicit solution of the optimal allocation problem This work is licensed under the Creative for investors with CRRA utility function. We considered the Gamma Lévy Commons Attribution International process to solve the optimization problem. -
Implementation and Performance Analysis of PBKDF2, Bcrypt, Scrypt Algorithms
Implementation and Performance Analysis of PBKDF2, Bcrypt, Scrypt Algorithms Levent Ertaul, Manpreet Kaur, Venkata Arun Kumar R Gudise CSU East Bay, Hayward, CA, USA. [email protected], [email protected], [email protected] Abstract- With the increase in mobile wireless or data lookup. Whereas, Cryptographic hash functions are technologies, security breaches are also increasing. It has used for building blocks for HMACs which provides become critical to safeguard our sensitive information message authentication. They ensure integrity of the data from the wrongdoers. So, having strong password is that is transmitted. Collision free hash function is the one pivotal. As almost every website needs you to login and which can never have same hashes of different output. If a create a password, it’s tempting to use same password and b are inputs such that H (a) =H (b), and a ≠ b. for numerous websites like banks, shopping and social User chosen passwords shall not be used directly as networking websites. This way we are making our cryptographic keys as they have low entropy and information easily accessible to hackers. Hence, we need randomness properties [2].Password is the secret value from a strong application for password security and which the cryptographic key can be generated. Figure 1 management. In this paper, we are going to compare the shows the statics of increasing cybercrime every year. Hence performance of 3 key derivation algorithms, namely, there is a need for strong key generation algorithms which PBKDF2 (Password Based Key Derivation Function), can generate the keys which are nearly impossible for the Bcrypt and Scrypt. -
Blockchain & Cryptocurrency Regulation
Blockchain & Cryptocurrency Regulation Third Edition Contributing Editor: Josias N. Dewey Global Legal Insights Blockchain & Cryptocurrency Regulation 2021, Third Edition Contributing Editor: Josias N. Dewey Published by Global Legal Group GLOBAL LEGAL INSIGHTS – BLOCKCHAIN & CRYPTOCURRENCY REGULATION 2021, THIRD EDITION Contributing Editor Josias N. Dewey, Holland & Knight LLP Head of Production Suzie Levy Senior Editor Sam Friend Sub Editor Megan Hylton Consulting Group Publisher Rory Smith Chief Media Officer Fraser Allan We are extremely grateful for all contributions to this edition. Special thanks are reserved for Josias N. Dewey of Holland & Knight LLP for all of his assistance. Published by Global Legal Group Ltd. 59 Tanner Street, London SE1 3PL, United Kingdom Tel: +44 207 367 0720 / URL: www.glgroup.co.uk Copyright © 2020 Global Legal Group Ltd. All rights reserved No photocopying ISBN 978-1-83918-077-4 ISSN 2631-2999 This publication is for general information purposes only. It does not purport to provide comprehensive full legal or other advice. Global Legal Group Ltd. and the contributors accept no responsibility for losses that may arise from reliance upon information contained in this publication. This publication is intended to give an indication of legal issues upon which you may need advice. Full legal advice should be taken from a qualified professional when dealing with specific situations. The information contained herein is accurate as of the date of publication. Printed and bound by TJ International, Trecerus Industrial Estate, Padstow, Cornwall, PL28 8RW October 2020 PREFACE nother year has passed and virtual currency and other blockchain-based digital assets continue to attract the attention of policymakers across the globe. -
Optimizing a Password Hashing Function with Hardware-Accelerated Symmetric Encryption
S S symmetry Article Optimizing a Password Hashing Function with Hardware-Accelerated Symmetric Encryption Rafael Álvarez 1,* , Alicia Andrade 2 and Antonio Zamora 3 1 Departamento de Ciencia de la Computación e Inteligencia Artificial (DCCIA), Universidad de Alicante, 03690 Alicante, Spain 2 Fac. Ingeniería, Ciencias Físicas y Matemática, Universidad Central, Quito 170129, Ecuador; [email protected] 3 Departamento de Ciencia de la Computación e Inteligencia Artificial (DCCIA), Universidad de Alicante, 03690 Alicante, Spain; [email protected] * Correspondence: [email protected] Received: 2 November 2018; Accepted: 22 November 2018; Published: 3 December 2018 Abstract: Password-based key derivation functions (PBKDFs) are commonly used to transform user passwords into keys for symmetric encryption, as well as for user authentication, password hashing, and preventing attacks based on custom hardware. We propose two optimized alternatives that enhance the performance of a previously published PBKDF. This design is based on (1) employing a symmetric cipher, the Advanced Encryption Standard (AES), as a pseudo-random generator and (2) taking advantage of the support for the hardware acceleration for AES that is available on many common platforms in order to mitigate common attacks to password-based user authentication systems. We also analyze their security characteristics, establishing that they are equivalent to the security of the core primitive (AES), and we compare their performance with well-known PBKDF algorithms, such as Scrypt and Argon2, with favorable results. Keywords: symmetric; encryption; password; hash; cryptography; PBKDF 1. Introduction Key derivation functions are employed to obtain one or more keys from a master secret. This is especially useful in the case of user passwords, which can be of arbitrary length and are unsuitable to be used directly as fixed-size cipher keys, so, there must be a process for converting passwords into secret keys. -
Security Policy: Informacast Java Crypto Library
FIPS 140-2 Non-Proprietary Security Policy: InformaCast Java Crypto Library FIPS 140-2 Non-Proprietary Security Policy InformaCast Java Crypto Library Software Version 3.0 Document Version 1.2 June 26, 2017 Prepared For: Prepared By: Singlewire Software SafeLogic Inc. 1002 Deming Way 530 Lytton Ave, Suite 200 Madison, WI 53717 Palo Alto, CA 94301 www.singlewire.com www.safelogic.com Document Version 1.2 © Singlewire Software Page 1 of 35 FIPS 140-2 Non-Proprietary Security Policy: InformaCast Java Crypto Library Abstract This document provides a non-proprietary FIPS 140-2 Security Policy for InformaCast Java Crypto Library. Document Version 1.2 © Singlewire Software Page 2 of 35 FIPS 140-2 Non-Proprietary Security Policy: InformaCast Java Crypto Library Table of Contents 1 Introduction .................................................................................................................................................. 5 1.1 About FIPS 140 ............................................................................................................................................. 5 1.2 About this Document.................................................................................................................................... 5 1.3 External Resources ....................................................................................................................................... 5 1.4 Notices ......................................................................................................................................................... -
Can Ethereum Classic Reach 1000 Dollars Update [06-07-2021] 42 Loss in the Last 24 Hours
1 Can Ethereum Classic Reach 1000 Dollars Update [06-07-2021] 42 loss in the last 24 hours. At that time Bitcoin reached its all-time high of 20,000 and so did Ethereum ETH which surpassed 1,000. 000 to reach 1; Tezos XTZ is priced at 2. In the unlikely event of a significant change for the worst, we expect the Bitcoin price to continue appreciating. ERC-721 started as a EIP draft written by dete and first came to life in the CryptoKitties project by Axiom Zen. ERC-721 A CLASS OF UNIQUE TOKENS. It does not mandate a standard for token metadata or restrict adding supplemental functions. Think of them like rare, one-of-a-kind collectables. The Standard. Institutions are mandating that they invest in clean green technologies and that s what ethereum is becoming, she said. Unlike bitcoin s so-called proof of work, which rewards miners who are competing against each other to use computers and energy to record and confirm transactions on its blockchain, ethereum plans to adopt the more efficient proof of stake model, which chooses a block validator at random based on how much ether it controls. Kaspar explained her thesis Friday on Yahoo Finance Live, citing new updates coming to the cryptocurrency s network later this year. 42 loss in the last 24 hours. At that time Bitcoin reached its all-time high of 20,000 and so did Ethereum ETH which surpassed 1,000. 000 to reach 1; Tezos XTZ is priced at 2. In the unlikely event of a significant change for the worst, we expect the Bitcoin price to continue appreciating. -
Gemini Now Supports Dogecoin. Much Wow. | Gemini
5/6/2021 Gemini Now Supports Dogecoin. Much Wow. | Gemini Get started INDUSTRY PRODUCT May 04, 2021 Gemini Now Supports Dogecoin. Much Wow. We are thrilled to announce that trading and custody are now available for Dogecoin (DOGE), the funnest and friendliest crypto in the observable universe. Trading for DOGE is available on our API/FIX and Active Trader™ applications for USD, and on our mobile and web applications for USD, GBP, EUR, CAD, AUD, HKD and SGD pairs. With DOGE as part of the pack, we now offer over 40 cryptos for Wet ruased cionogkie as ntod im cpurosvet oanddy c uastnodm izaen oourt sheervric e1s1, ecnrsyurpe tcomsp flioanrc ec, uansdt oprdotyec. tL yeouarrn account. By continuing to use Gemini, you agree to our use of cookies. To learn more about coomokiesr aen da hboow utot cahalln gteh yeo ucr rsyetptintgoss, v wiewe o suru Ppripvaocyr tP ohliecyr.e. Dogecoin Is No Joke Manage OK https://www.gemini.com/blog/gemini-now-supports-dogecoin-much-wow 1/6 5/6/2021 Gemini Now Supports Dogecoin. Much Wow. | Gemini Dogecoin is the people’s money. It’s organic, irreverent, and fun. It’s not forced on us by a government or some other cGeentt sratalrted authority, it’s chosen by us, for us — by the people, for the people. Wow. For many, the idea of emergent money that is not mandated by fiat is hard to grok. We’re used to being told what money is. For most of our lives, paternalistic money is all we’ve ever known...until Bitcoin. -
Artificial Intelligence Integrated Blockchain Technology for Decentralized Applications and Smart Contracts
International Journal of Advanced Science and Technology Vol. 29, No.02, (2020), pp. 1023-1031 Artificial Intelligence Integrated Blockchain Technology for Decentralized Applications and Smart Contracts MAAN NAWAF ABBOOD Al-Imam Al-Adham college Abstract In the present period, Blockchain Technology is one of the key regions of research just as execution explicitly in the space of Cryptocurrency. Presently days, various advanced digital forms of money are very conspicuous and shared all through the world in spite of enormous analysis and debates. These cryptographic forms of money incorporate BitCoin, Ethereum, LiteCoin, PeerCoin, GridCoin, PrimeCoin, Ripple, Nxt, DogeCoin, NameCoin, AuroraCoin, Dash, Neo, NEM, PotCoin, TitCoin, Verge, Stellar, VertCoin, Tether, Zcash and numerous others. These blockchain based digital forms of money don't have any middle of the road bank or installment passage to record the log of the transactions. That is the primary reason in light of which numerous nations are not permitting the cryptographic forms of money as legitimate cash transaction. In any case, these blockchain based cryptographic forms of money are extremely celebrated and utilized as a result of colossal security highlights. This manuscript is focusing on the blockchain technology that is directly associated as the application domain of artificial intelligence. Keywords: Artificial Intelligence, AI, AI based Blockchain, Blockchain Security Introduction The blockchain organize is having a square of records in which every single record is related with the dynamic cryptography so every one of the transactions can be scrambled with no likelihood of sniffing or hacking endeavors [1, 2]. In current situation, the blockchain innovation is progressively engaged towards cryptographic forms of money in which the disseminated record is kept up for the transactions [3, 4].