Types Of Cryptocurrencies Research Articles

BITCOIN AS A SPECIAL KIND OF CRYPTOCURRENCY: A CONCEPT, MEANING AND PROSPECTS OF LEGAL REGULATION IN BUSINESS

In order to develop the digital economy in the Russian Federation, the Program «Digital Economy of the Russian Federation» that is aimed, inter alia, at the formation of a regulatory framework for the legal regulation of new relations in the field of digital economy, was approved by the Decree of the Government of the Russian Federation No. 1632-r of July 27, 2017. Particularly relevant in this regard is the issue of cryptocurrency and bitcoin legal regulation. The article deals in detail with a special type of cryptocurrency, namely: bitcoin. The author analyzes the main problems associeted with the necessity of legal regulation of cryptocurrencies. The conclusion is made that legal regulation of cryptocurrency as a means of payment requires a complex approach and it is impossible without due regatd to the peculiarities of legal regulation of bitcoin. The paper provides for the interaction between the concept of bitcoin and other key concepts, namely: virtual currency and digital currency. The author concludes that it is necessary to create a non-governmental self-regulatory organization supported by the State in order to protect the interests of the cryptocurrency business. Since legal regulation of cryptocurrencies is global in its nature, the article examines the foreign experience of legal regulation of cryptocurrencies and their types.

The digital economy and crypto-currencies: challenge or threat to traditional society

Currently, information technologies are not standing still, they are in constant change, starting from previous innovations, adjusting not only to market trends, but also the changing economic environment in which they live. A key factor in the development and growth of both the world and the economy of our state in modern realities is the digital economy. It determines the national security and independence of the country, the competitiveness of the players, the country’s place on the world stage. The aim of this article is to make an attempt to understand the prospects of application of information technologies of the digital economy and to study the ways of their use in the programming environment related directly to the economic situation. It is important to identify the role and benefts of technology in the digital economy. Blockchain technology takes its origin in the emergence of cryptocurrency-bitcoin, which serves as an alternative payment system, which in turn, unlike traditional payment systems is not controlled by any state or banks. A distinctive feature of this system is that the addition and storage of data is carried out within the network of nodes, and takes the form of a linear chain, there is no need to involve a Central Supervisory authority in such conditions. Only network users can add new transactions. Thus, for the digital economy, the blockchain system is a distributed database consisting of separate blocks taking the form of an unbroken chain that stores both all the transactions that took place and all the data of wallets that once existed.it is an “eternal digital magazine” that can be programmed to register almost anything that represents a certain value. This explains the fact that not only cryptocurrency fnds its application in the blockchain system. Each cell of the blockchain includes a timestamp and a link to the previous block. Because of what it can be virtually infnite, but in real life the possibilities of technology limit it. As an advanced technology, the blockchain model, various types of cryptocurrencies, in particular bitcoin, as well as the issues of mathematical foundations of the digitalization process, system archetypes and the formation of the framework model have been considered.

Neodrživost koncepta kriptovaluta baziranih na Proof-of-work algoritmu

The success of various cryptocurrencies' systems has triggered a great interest in their functioning. The fluctuation of their values is very unpredictable, so the periods of growth are often abruptly interrupted by stagnation or a pronounced decline. Nevertheless, a large number of investors have been involved in the processes of mining and trading cryptocurrencies in recent years. When it comes to the negative aspects of cryptocurrencies, the focus is primarily on various forms of cybercrime. The number of hacker attacks using the blackmail software - ransomware, is on the increase. In such cases, cryptocurrencies are often used as a means of paying ransom. However, the energy efficiency of certain types of cryptocurrencies is a less common topic. The Proof-of-Work (PoW) algorithm used for mining in some systems is an energetically intensive and really expensive process, which after economic analysis no longer seems as profitable as it first appeared to be. Cryptocurrency trading could bring a great income to the investors, but also great losses, because it essentially represents a zero-sum game. The sudden increase in the number of miners led to the disturbance on the computer components market, causing the price increase and even the complete disappearance of certain graphics card models. Everything previously mentioned indicates that cryptocurrencies have brought many negative aspects and disturbances. The subject of this paper is the economic aspect of cryptocurrencies based on the PoW algorithm. The aim of the paper is to indicate the economic unsustainability of their current concept, due to the high costs borne directly by participants in the mining process and indirectly by participants in the computer components market.

PRECONDITIONS AND PROBLEMS OF TRANSITION TO ELECTRONIC MONEY

The article is dedicated to the actual problems of creation, intervention and introduction of electronic money crypto-currency and blockchain technology at the modern stage. Rather narrow description is given to essence, the history of invention and the types of crypto currency (bit coin, ethereum, etc.,), advantages and defects of their use, the electronic wallet and its types, situation of the electronic money introduc tion in Georgia, the global crypto currency spread and the tendencies and prospective of its possible recognition, assessed is significance of the electronic money in manufacturing, based on the modern technical-technological achievements, money-reporting field, maximally just relations creation and by this - further growth of the economic development and accordingly the permanent enhancement of the living standards of the populations.

Resale Options and Cryptocurrency Mispricing

We examine the predictions of the resale option hypothesis (Scheinkman and Xiong, 2003) in cryptocurrency markets. The resale option hypothesis yields testable implications on the relationship between the level and volatility of mispricing, and the degree of heterogeneous beliefs. Using turnover as a proxy for heterogeneity, we find evidence supporting the resale option hypothesis. These findings are persistent across various types of cryptocurrencies, and support the notion that cryptocurrencies trade above intrinsic value. Futhermore, we conduct two backtests to show that portfolios with higher turnover or resale option characteristics underperform portfolios with lower turnover or resale option characteristics. This supports the theory that disagreement is negatively related to future returns for positive biased assets (see Atmaz and Basak, 2018).

Bitcoin and its Legality from Shariah Point of View

Bitcoin is a type of cryptocurrency and the most successful in blockchain management. It has become famous in recent years. The critical aspects of cryptocurrency are its legitimacy, source of money laundering, tax evasion, lack of regulation etc. The aim of this study is to explore the view of Muslim scholars on the legality of bitcoin with respect to Shariah. The study adopts doctrinal approach which utilizes descriptive approach of qualitative research methodology which relies on secondary data in form of text books, journals, newspapers, related websites etc. The study found that Muslim scholars are divided on the issue. A part of them completely rejected bitcoin and considered it against Shariah principles. On the other hand, some Muslim scholars believe bitcoin does not contradict Islamic principles and therefore may be used, however with certain conditions. The researchers tend to support the proponents’ view as most of the opponents’ grounds for the rejection are temporary in nature which may be covered through policy regulations.

An Empirical Evidences on Cryptocurrencies: Emerging Digital Money in the World

This paper aims toward amplifying the concept of cryptocurrency as emerging digital money in the world and its practices in Nepal. The paper is based on review of various articles, books and relevant websites that provide information regarding cryptocurrencies. The paper highlighted the conceptual part and types of cryptocurrencies in the first section, the major literature review in the context of world in the second section, and the practices of cryptocurrency in Nepal in third section followed by conclusion in final section. An exploratory research design has been adopted in the study. The primary survey has been done to collect the data with self administered questionnaire. The paper reveals the importance of cryptocurrencies in the present context of digital world. The paper concluded that the majority of the respondents are not well known about cryptocurrency in Nepal. The respondents are found interested to invest with knowledge, policy and security on cryptocurrency in Nepal. This thematic based research paper will create a platform for the researcher to study the practical scenario of cryptocurrency.NCC JournalVol. 3, No. 1, 2018, page: 100-107

Sentimental analysis on social media data using R programming

Sentimental Analysis is an ongoing research field in Text Mining Arena to determine the situation of market on particular entity such as Product, Services...Etc. and it can be called as computational treatment of reviews, subjectivity and sentiment of text. Cryptocurrency can be explained as a type of digital estate and devised to mechanize as a form of trade and exchanges that uses cryptography as an encryption technique to secure the transactions and acts as decentralized controlled transaction which is opposed to centralized transactions. Cryptocurrency are a type of virtual currency, digital currency and alternative currency, On basis of categorical, there are different architecture and security protocols which are used in the cryptocurrencies to secure transactions, the different types of cryptocurrency are available in the market such as Bitcoin, Litecoin, and Namecoin…etc. This paper focuses on survey on different types of sentimental analysis methods and main contribution of this paper include sentimental analysis of social media data on different types of cryptocurrencies on basis of categorical and different terms of cryptocurrency such as Cryptocurrency, virtual currency, digital currency and discussed on trends of crypto currency in present market.

Cryptocurrencies in Nigeria: A Legal Analysis

Cryptocurrencies, the talk of the town, have emerged as a subset of alternative currencies to fiat currencies. Representing money in digital form, they differ, markedly, from conventional currencies as well as digital payment services or mediums. Formally introduced in 2009 with the advent of Bitcoin (the first and basic cryptocurrency), this genus of currency has waxed stronger as there are now no less than a thousand different types of cryptocurrencies globally. Despite this increasing escalation of cryptocurrencies, its reception as well as legal status varies considerably across Jurisdictions. Whilst some countries have clearly permitted their use and trade, others have restricted them or proscribed them outright. Yet some others are yet to definitively define their attitude to them. Even among countries that have taken a stand on cryptocurrencies, the nature of their classifications of cryptocurrencies differs. These issues, coupled with concerns of an unregulated global economy associated with cryptocurrencies, have made cryptocurrencies more topical now than ever before. It is against this background that this article seeks to analyse the emergence of cryptocurrencies in commerce and investments in Nigeria, and its legal implications. Towards this end, this article shall first clarify and expound on what cryptocurrencies are, including their various types, their operations and how they differ from conventional currency system. Afterwards, we would examine cryptocurrencies as currency or money and thereafter undertake a review of current Nigerian currency laws with a view to discern whether and to what extent cryptocurrencies are or could be accommodated under current Nigerian law. We would next examine the response of Nigerian regulators to the emergence of cryptocurrencies in Nigeria and then appraise the reception and treatment of cryptocurrencies across varying national jurisdictions. Finally, we would conclude the article and make recommendations as may be necessary. This paper contends that, ultimately, there is more to be done at the international level to address the challenges posed by this staggering invention as local treatments of the challenges might not suffice.

THE SPECIFICITIES OF USING CRYPTOCURRENCY IN PURCHASE AND SALE CONTRACTS

The aim of the article is to study the theoretical and legal possibilities of using cryptocurrency in purchase and sale contracts, to determine the specificities of such a phenomenon as cryptocurrency (Bitcoin) from the perspective of jurisprudence, and to draw attention of legal scholars primarily to possible further scientific researches on the introduction of this phenomenon in the modern civilian legislation of Ukraine. The subject of the study is the specificities of using cryptocurrency in contracts of purchase and sale. Methodology. The research is based on an analysis of legal acts on the legal regulation of cryptocurrency in Ukraine. By means of the comparative legal method of investigation of certain provisions of Ukrainian legislation, the possibilities and limits of the use of cryptocurrency in contractual relations, in particular, contracts of purchase and sale are determined. The results of the study revealed that the cryptocurrency regime in Ukraine and in many countries is in a legal vacuum. Such a conclusion is based on the lack of clear legal clarification and consolidation of the concept and types of cryptocurrency in the relevant rules of the tax, banking, civil, and commercial law. In case of eliminating this gap, it is advisable to review the state policy on Bitcoin and its analogues. Practical implications. It is necessary and appropriate to introduce a corresponding license for cryptocurrency activities that can minimize the laundering of proceeds from crime or terrorism financing. It is suggested that eventually the relations concerning the digital currency will be regulated in Ukraine, but most likely, it will copy the experience of another state, which may have negative consequences. Relevance/originality. Analysis of a possible use of cryptocurrency in contracts of purchase and sale can become the basis for the development of the most promising directions of domestic civil law in contractual relations.

Kripto valute

The digital revolution is a change from analog and electronic technology to digital technology and is currently at its peak. Since we live in the digital era, it is logical that the digital form of money, that is, the cryptocurrency, had to appear. The cryptocurrency as a digital form of money functions with the help of a technique called cryptography. Cryptography is a process that translates legible information into codes that cannot be broken at all. The cryptocurrency is based on the digitized so-called. the main book of all crypto watch transactions called blockchain. Blockchain records individual transactions and ownership of all cryptocurrencies that are in circulation, and this system is managed by the so-called blockchain 'miners' who have to update all transactions that have occurred and ensure the accuracy of the information. In this way, the security of the transaction is confirmed. This paper will address the theme of the cryptocurrency and their role in economic growth. Types of Cryptocurrencies will also be shown as well as their expansion in countries in transition. Among other things, we will see the market of the currency in Serbia and Switzerland.

Pearson Product Moment Correlation Diagnostics Between two types of crypto-currencies: A case study of Bitcoin and Ethereum

The purpose of this study is to develop robust estimation of association between two types of crypto-currencies namely Bitcoin and Ethereum. Daily data of crypto-currencies are collected from https://coinmarketcap.com. The period for data analysis is started from January 2017 until October 2018. The value of mean return for Bitcoin is 13.18 %. Meanwhile, the value of mean return for Ethereum is 27.85 %. The standard deviation for Bitcoin is 30.27 % and Ethereum is 64.24 %. Then, this study performed Person product moment coefficient analysis to evaluate the correlation between these two crypto-currencies. Result indicates the association coefficient value is 0.50. The correlation shows there is strong positive correlation between Bitcoin return and Ethereum return. As conclusion, there is significant relationship between Bitcoin and Ethereum return data with strong positive correlation (r = 0.503, n = 21, p =0.020).The significant of this study is to help investors to make better decision in selecting appropriate investment portfolio for their investment fund that contributes better return and lower risk.

Feasibility of Bitcoin in India-A Discussion

The Indian economy is now moving towards digital currency with each passing day. However, the discussion has moved from digital currency to cryptocurrency, more specifically towards ‘bitcoin’. Cryptocurrency is a digital asset which works as a medium of exchange and uses cryptography to secure its transactions, to control creation of additional units and to verify the transfer of assets. Bitcoin is a type of cryptocurrency; Reserve Bank of India (RBI) has advised caution on use of bitcoin but it is not illegal in India. In this paper, bitcoin is analysed as a medium of exchange and as an investment in the Indian scenario. It isconcluded that, in the near future, bitcoin is not feasible as a medium of exchange, however, it is imperative to accept it as an investment.