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We consider blockchain adoption in a multiple firm market. The blockchain cost per firm decreases with the adoption rate as the cost of verification and recording is distributed among the adopters. We study the Nash equilibria of the adoption game an
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::029a14b22bddc1e32de35a1707a3c355
https://doi.org/10.2139/ssrn.4342013
https://doi.org/10.2139/ssrn.4342013
Autor:
Engin Iyidogan
Publikováno v:
SSRN Electronic Journal.
This paper develops an equilibrium model of proof-of-work cryptocurrencies. Equilibrium behaviour of miners and users are characterized for exogenous blockchain protocol metrics. This paper shows that an equilibrium between miners and users can be ac