Difference Between Coin Token and Protocol
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THE TUFTS DAILY Est
Where You Showers Read It First 59/43 THE TUFTS DAILY Est. 1980 VOLUME LXI, NUMBER 46 TUESDAY, APRIL 12, 2011 TUFTSDAILY.COM Tufts to implement Couric discusses new media in journalism cluster-hiring BY ELL E N KAN program next fall Daily Editorial Board CBS Evening News anchor Katie BY MINYOUNG SONG Couric at yesterday’s sixth-annual Daily Editorial Board Edward R. Murrow Forum on Issues in Journalism said that the expansion of The School of Arts and Sciences last social media has greatly increased the month decided to begin using a new reach and impact of her work. hiring practice, known as cluster hir- “Things live on in perpetuity on the ing, next semester, with the hopes of Internet … A lot of the interviews I’ve enhancing and forging interdisciplinary done are online; that’s allowed people connections between departments. to share it and view it, repeatedly in Cluster hiring is the practice of some cases — certainly that added to simultaneously taking on multiple the impact of the interview had it just tenure-stream professors whose areas run alone on the CBS Evening News,” of expertise are complementary. The Couric said, referring to her interviews university will pilot this initiative in with then-Republican vice presidential conjunction with the interdisciplin- nominee Sarah Palin, which were widely ary Environmental Studies program, believed to have changed the 2008 elec- according to Dean of Arts and Sciences toral landscape. Joanne Berger-Sweeney. The forum was jointly sponsored by the “We will hire three tenure-stream Jonathan M. Tisch College of Citizenship professors who will be full, par- and Public Service, the Communications ticipating members in home depart- and Media Studies (CMS) Program and ments and have courses cross-listed the Edward R. -
Blockchain and Initial Coin Offerings: Blockchain´S Implications for Crowdfunding
Blockchain and Initial Coin Offerings: Blockchain´s Implications for Crowdfunding by Laurin Arnold, Martin Brennecke, Patrick Camus, Gilbert Fridgen, Tobias Guggenberger, Sven Radszuwill, Alexander Rieger, Andre Schweizer, Nils Urbach December 2018 in: Business Transformation through Blockchain (Hrsg. Treiblmaier, H., Beck, R.) University of Augsburg, D-86135 Augsburg Visitors: Universitätsstr. 12, 86159 Augsburg Phone: +49 821 598-4801 (Fax: -4899) 843 University of Bayreuth, D-95440 Bayreuth - I Visitors: Wittelsbacherring 10, 95444 Bayreuth W Phone: +49 921 55-4710 (Fax: -844710) www.fim-rc.de Blockchain and Initial Coin Offerings: Blockchain’s Implications for Crowdfunding Abstract Interest in Blockchain technology is growing rapidly and at a global scale. As scrutiny from practitioners and researchers intensifies, various industries and use cases are identified that may benefit from adopting Blockchain. In this context, peer-to-peer (P2P) funding through initial coin offerings (ICOs) is often singled out as one of the most visible and promising use cases. ICOs are novel forms of crowdfunding that collect funds in exchange for so-called Blockchain tokens. These tokens can represent any traditional form of underlying asset and have already been used, among others, to denote shares in a company, user reputations in online systems, deposits of fiat currencies, and balances in cryptocurrency systems. Importantly, ICOs allow for P2P investments without intermediaries. In this chapter, we explain the fundamentals of ICOs, highlight their differences to traditional financing, and analyze their potential impacts on crowdfunding. Keywords Blockchain, Initial Coin Offering, ICO, Distributed Ledger Technology, Crowdfunding, Cryptocurrency, Crypto-token, Use Case Analysis Table of Contents 1. Crowdfunding and Blockchain ....................................................................................................... -
Beauty Is Not in the Eye of the Beholder
Insight Consumer and Wealth Management Digital Assets: Beauty Is Not in the Eye of the Beholder Parsing the Beauty from the Beast. Investment Strategy Group | June 2021 Sharmin Mossavar-Rahmani Chief Investment Officer Investment Strategy Group Goldman Sachs The co-authors give special thanks to: Farshid Asl Managing Director Matheus Dibo Shahz Khatri Vice President Vice President Brett Nelson Managing Director Michael Murdoch Vice President Jakub Duda Shep Moore-Berg Harm Zebregs Vice President Vice President Vice President Shivani Gupta Analyst Oussama Fatri Yousra Zerouali Vice President Analyst ISG material represents the views of ISG in Consumer and Wealth Management (“CWM”) of GS. It is not financial research or a product of GS Global Investment Research (“GIR”) and may vary significantly from those expressed by individual portfolio management teams within CWM, or other groups at Goldman Sachs. 2021 INSIGHT Dear Clients, There has been enormous change in the world of cryptocurrencies and blockchain technology since we first wrote about it in 2017. The number of cryptocurrencies has increased from about 2,000, with a market capitalization of over $200 billion in late 2017, to over 8,000, with a market capitalization of about $1.6 trillion. For context, the market capitalization of global equities is about $110 trillion, that of the S&P 500 stocks is $35 trillion and that of US Treasuries is $22 trillion. Reported trading volume in cryptocurrencies, as represented by the two largest cryptocurrencies by market capitalization, has increased sixfold, from an estimated $6.8 billion per day in late 2017 to $48.6 billion per day in May 2021.1 This data is based on what is called “clean data” from Coin Metrics; the total reported trading volume is significantly higher, but much of it is artificially inflated.2,3 For context, trading volume on US equity exchanges doubled over the same period. -
Initial Coin Offerings: Financing Growth with Cryptocurrency Token
Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales Sabrina T. Howell, Marina Niessner, and David Yermack⇤ June 21, 2018 Abstract Initial coin offerings (ICOs) are sales of blockchain-based digital tokens associated with specific platforms or assets. Since 2014 ICOs have emerged as a new financing instrument, with some parallels to IPOs, venture capital, and pre-sale crowdfunding. We examine the relationship between issuer characteristics and measures of success, with a focus on liquidity, using 453 ICOs that collectively raise $5.7 billion. We also employ propriety transaction data in a case study of Filecoin, one of the most successful ICOs. We find that liquidity and trading volume are higher when issuers offer voluntary disclosure, credibly commit to the project, and signal quality. s s ss s ss ss ss s ⇤NYU Stern and NBER; Yale SOM; NYU Stern, ECGI and NBER. Email: [email protected]. For helpful comments, we are grateful to Bruno Biais, Darrell Duffie, seminar participants at the OECD Paris Workshop on Digital Financial Assets, Erasmus University, and the Swedish House of Finance. We thank Protocol Labs and particularly Evan Miyazono and Juan Benet for providing data. Sabrina Howell thanks the Kauffman Foundation for financial support. We are also grateful to all of our research assistants, especially Jae Hyung (Fred) Kim. Part of this paper was written while David Yermack was a visiting professor at Erasmus University Rotterdam. 1Introduction Initial coin offerings (ICOs) may be a significant innovation in entrepreneurial finance. In an ICO, a blockchain-based venture raises capital by selling cryptographically secured digital assets, usually called “tokens.” These ventures often resemble the startups that conventionally finance themselves with angel or venture capital (VC) investment, though there are many scams, jokes, and tokens that have nothing to do with a new product or business. -
State of the Art: the Monero Cryptocurrency Mining Malware Detection Using Supervised Machine Learning Algorithms
International Journal of Applied Science and Engineering State of the art: The monero cryptocurrency mining malware detection using supervised machine learning algorithms Wilfridus Bambang Triadi Handaya1*, Mohd Najwadi Yusoff 2, Aman Jantan2 1 Department of Informatics, Universitas Atma Jaya Yogyakarta, Daerah Istimewa Yogyakarta, Indonesia 2 School of Computer Sciences, Universiti Sains Malaysia, Penang, Malaysia ABSTRACT Today’s evolving information technology trend is fuelling increasingly various cybercrime. Various cybercrime types, such as malware attacks and data breach activities, organizations, and countries, occur every day. Malware is one of the biggest cyber threats on the Internet today. Every year, the number of data breaches continues to increase. Mining is a complete cryptocurrency network’s computing process to verify transaction records, called blockchains, and receive digital coins in return. This mining process requires severe hardware and significant CPU resources to create cryptocurrencies. A statistic published by Statista in mid-2020 about the most detected crypto-mining malware types influencing corporate networks global from January to June 2020, it can be seen that cryptocurrency mining activity leading to the pool of Monero amounts to 46% derived from the use of XMRig. Malware detection is like an endless war between malware authors and malware prevention vendors. This trend change also makes the procedures and forms of analysis must adapt. From previously done manually with various tools for static analysis, to be OPEN ACCESS subsequently replaced with automatic analysis through the application of machine learning algorithms. Received: October 9, 2020 Revised: December 20, 2020 Keywords: Malware detection, XMRig, Monero, Cryptocurrencies, Mining. Accepted: January 6, 2021 Corresponding Author: Wilfridus Bambang Triadi Handaya 1. -
Prospectus, Which Is in the Swedish-Language, and Which Was Approved by the Swedish Financial Supervisory Authority on 17 May 2019
NB: This English-language document is an unofficial translation of XBT Provider AB's base prospectus, which is in the Swedish-language, and which was approved by the Swedish Financial Supervisory Authority on 17 May 2019. In the case of any discrepancies between the base prospectus and this English translation, the Swedish-language base prospectus shall prevail. BASE PROSPECTUS Dated 17 May 2019 for the issuance of BITCOIN TRACKER CERTIFICATES, BITCOIN CASH TRACKER CERTIFICATES, ETHEREUM TRACKER CERTIFICATES, ETHEREUM CLASSIC TRACKER CERTIFICATES, LITECOIN TRACKER CERTIFICATES, XRP TRACKER CERTIFICATES, NEO TRACKER CERTIFICATES & BASKET CERTIFICATES under the Issuance programme of XBT Provider AB (publ) (a limited liability company incorporated under the laws of Sweden) The Certificates are guaranteed by CoinShares (Jersey) Limited ______________________________________ IMPORTANT INFORMATION This base prospectus (the "Base Prospectus") contains information relating to Certificates (as defined below) to be issued under the programme (the "Programme"). Under the Base Prospectus, XBT Provider AB (publ) (the "Issuer" or "XBT Provider") may, from time to time, issue Certificates and apply for such Certificates to be admitted to trading on one or more regulated markets or multilateral trading facilities ("MTF’s") in Finland, Germany, the Netherlands, Norway, Sweden, the United Kingdom or, subject to completion of relevant notification measures, any other Member State within the European Economic Area ("EEA"). The correct performance of the Issuer's payment obligations regarding the Certificates under the Programme are guaranteed by CoinShares (Jersey) Limited (the "Guarantor"). The Certificates are not principal-protected and do not bear interest. Consequently, the value of, and any amounts payable under, the Certificates will be strongly influenced by the performance of the Tracked Digital Currencies (as defined herein) and, unless the certificates are denominated in USD, the USD-SEK exchange rate or, as the case may be, the USD-EUR exchange rate. -
Initial Coin Offering - ICO
Initial Coin Offering - ICO What is an ICO? The term ICO stands for "Initial Coin Offering" and is a designation for a new form of corporate or project financing based on the blockchain technology. The purpose of the ICO is to raising capital for a company or project by means of an unregulated type of crowdfunding. A company issues its own proprietary virtual currency in the form of "Tokens" or "Coins". These "Tokens" or "Coins" can be bought by investors using another currency, most frequently a virtual currency, for example Bitcoin or ether. An ICO may also be called a "token sale" or "coin sale". What is the purpose of a "Token" or a "Coin"? A "token" or "coin" in relation to an ICO is connected to a specific company or project and may constitute a share in the company, a share in proceeds that are yet to be realised, or in some cases does not constitute any recognisable value. Investing in an ICO is generally associated with a high level of risk. It may also result in a total loss of the invested capital. What risks may be associated with an ICO? Uncertain prospects of success: typically ICO projects are at a very early stage of development and their business models are experimental. It is uncertain whether the business idea will bring profits. The prospect of the ICO being financially success is therefore not guaranteed, and the development of the value of the investment is uncertain. IT Risk: the underlying technology (distributed ledger or blockchain) is usually relatively new and has not been adequately tested, and therefore might lead, not only for the project to be financed, but also for the technology used to problems (hacks, coding errors etc.) Liquidity risk: the possibility to trade or cash in the acquired Token on a platform, or to exchange it for a legal payment instrument, may be limited. -
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. -
Cryptocurrencies: Overcoming Barriers to Trust and Adoption
CRYPTOCURRENCIES: OVERCOMING BARRIERS TO TRUST AND ADOPTION Dr Zeynep Gurguc and Prof William Knottenbelt, Imperial College London Contents 01Foreword 02 02Executive summary 04 03Introduction 06 04Key blockchain concepts 07 05Evolution of money 11 06Challenges and solutions 17 07Conclusions and conjectures 21 08Glossary of terms 23 09Acknowledgements 24 01 01Foreword The Internet started out with the simple use case of email globally accepted form of money - we should also be (digital communications) and the aim to decentralise asking when buying the weekly shop with them will be communications. The Blockchain, in a similar vein, commonplace. started out to decentralise ‘value’. The first use case being cryptocurrencies like Bitcoin (digital money). As our findings make clear, the notion that cryptocurrencies have to fit in with old-world financial As the Internet scaled so did the use cases. The Internet models is flawed. Money has always evolved. Its uses facilitated e-commerce, social networks, gaming and so and social status have changed and will keep changing. on. In the same way, the Blockchain has increased its use Why should we measure cryptocurrencies with the same cases, away from much talked about cryptocurrencies yardstick used for traditional payment and currency like Bitcoin and Litecoin to other cryptoassets, such as systems? Would you really judge email with the same cryptocommodities like Ethereum and cryptotokens like criteria as the written letter? Steem. New use cases will continue to emerge and other segments such as cryptosecurities will start to appear. The report supports our conviction that cryptocurrencies will gain global mainstream adoption within the next decade. Just as communication underpins almost all applications across the Internet, value will do the same on the If the Internet changed the way we communicate, Blockchain. -
The Bitcoin Trading Ecosystem
ArcaneReport(PrintReady).qxp 21/07/2021 14:43 Page 1 THE INSTITUTIONAL CRYPTO CURRENCY EXCHANGE INSIDE FRONT COVER: BLANK ArcaneReport(PrintReady).qxp 21/07/2021 14:43 Page 3 The Bitcoin Trading Ecosystem Arcane Research LMAX Digital Arcane Research is a part of Arcane Crypto, bringing LMAX Digital is the leading institutional spot data-driven analysis and research to the cryptocurrency exchange, run by the LMAX Group, cryptocurrency space. After launch in August 2019, which also operates several leading FCA regulated Arcane Research has become a trusted brand, trading venues for FX, metals and indices. Based on helping clients strengthen their credibility and proven, proprietary technology from LMAX Group, visibility through research reports and analysis. In LMAX Digital allows global institutions to acquire, addition, we regularly publish reports, weekly market trade and hold the most liquid digital assets, Bitcoin, updates and articles to educate and share insights. Ethereum, Litecoin, Bitcoin Cash and XRP, safely and securely. Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane Trading with all the largest institutions globally, operates a portfolio of businesses, spanning the LMAX Digital is a primary price discovery venue, value chain for digital nance. As a group, Arcane streaming real-time market data to the industry’s deliver services targeting payments, investment, and leading indices and analytics platforms, enhancing trading, in addition to a media and research leg. the quality of market information available to investors and enabling a credible overview of the Arcane has the ambition to become a leading player spot crypto currency market. in the digital assets space by growing the existing businesses, invest in cutting edge projects, and LMAX Digital is regulated by the Gibraltar Financial through acquisitions and consolidation. -
Coinbase Explores Crypto ETF (9/6) Coinbase Spoke to Asset Manager Blackrock About Creating a Crypto ETF, Business Insider Reports
Crypto Week in Review (9/1-9/7) Goldman Sachs CFO Denies Crypto Strategy Shift (9/6) GS CFO Marty Chavez addressed claims from an unsubstantiated report earlier this week that the firm may be delaying previous plans to open a crypto trading desk, calling the report “fake news”. Coinbase Explores Crypto ETF (9/6) Coinbase spoke to asset manager BlackRock about creating a crypto ETF, Business Insider reports. While the current status of the discussions is unclear, BlackRock is said to have “no interest in being a crypto fund issuer,” and SEC approval in the near term remains uncertain. Looking ahead, the Wednesday confirmation of Trump nominee Elad Roisman has the potential to tip the scales towards a more favorable cryptoasset approach. Twitter CEO Comments on Blockchain (9/5) Twitter CEO Jack Dorsey, speaking in a congressional hearing, indicated that blockchain technology could prove useful for “distributed trust and distributed enforcement.” The platform, given its struggles with how best to address fraud, harassment, and other misuse, could be a prime testing ground for decentralized identity solutions. Ripio Facilitates Peer-to-Peer Loans (9/5) Ripio began to facilitate blockchain powered peer-to-peer loans, available to wallet users in Argentina, Mexico, and Brazil. The loans, which utilize the Ripple Credit Network (RCN) token, are funded in RCN and dispensed to users in fiat through a network of local partners. Since all details of the loan and payments are recorded on the Ethereum blockchain, the solution could contribute to wider access to credit for the unbanked. IBM’s Payment Protocol Out of Beta (9/4) Blockchain World Wire, a global blockchain based payments network by IBM, is out of beta, CoinDesk reports. -
A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets
Journal of Risk and Financial Management Review A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets Nikolaos A. Kyriazis Department of Economics, University of Thessaly, 38333 Volos, Greece; [email protected] Abstract: This study is an integrated survey of GARCH methodologies applications on 67 empirical papers that focus on cryptocurrencies. More sophisticated GARCH models are found to better explain the fluctuations in the volatility of cryptocurrencies. The main characteristics and the optimal approaches for modeling returns and volatility of cryptocurrencies are under scrutiny. Moreover, emphasis is placed on interconnectedness and hedging and/or diversifying abilities, measurement of profit-making and risk, efficiency and herding behavior. This leads to fruitful results and sheds light on a broad spectrum of aspects. In-depth analysis is provided of the speculative character of digital currencies and the possibility of improvement of the risk–return trade-off in investors’ portfolios. Overall, it is found that the inclusion of Bitcoin in portfolios with conventional assets could significantly improve the risk–return trade-off of investors’ decisions. Results on whether Bitcoin resembles gold are split. The same is true about whether Bitcoins volatility presents larger reactions to positive or negative shocks. Cryptocurrency markets are found not to be efficient. This study provides a roadmap for researchers and investors as well as authorities. Keywords: decentralized cryptocurrency; Bitcoin; survey; volatility modelling Citation: Kyriazis, Nikolaos A. 2021. A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets. Journal of Risk and 1. Introduction Financial Management 14: 293. The continuing evolution of cryptocurrency markets and exchanges during the last few https://doi.org/10.3390/jrfm years has aroused sparkling interest amid academic researchers, monetary policymakers, 14070293 regulators, investors and the financial press.