Bitcoin and Ethereum Evolution
Zmaznev, Egor (2018)
Zmaznev, Egor
Centria-ammattikorkeakoulu
2018
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201802222706
https://urn.fi/URN:NBN:fi:amk-201802222706
Tiivistelmä
This paper‘s aim is primarily to identify, compare and analyse Bitcoin and Ethereum as current major cryptocurrencies from the macroeconomic perspective. A secondary aim is to determine the reasons behind Bitcoin and Ethereum rise in terms of price and adoption. The overall target is to identify and show cryptocurrencies‘ possible development and issues based on the cases of Bitcoin and Ethereum.
The theoretical part provides an overview of cryptocurrencies concept as well as the specifics of blockchain technology. Ethereum and Bitcoin virtual currencies are presented, analysed and compared. Cryptocurrencies, and particularly Bitcoin and Ethereum, have become one of the key topics of interest from both organizational and consumers‘ perspectives, therefore an insight into the decentralized cryptocurrencies is presented. As far as Bitcoin and Ethereum “boom” is growing, analysis of whether cryptocurrencies are offering a sustainable alternative to traditional money is shown.
The analysis of cryptocurrencies is an integral part of my research, which also includes the following main objectives:
• to find and show the main issues of cryptocurrencies
• to conduct a survey and interviews about the effects of the digital currencies on the economic development
• to find the main problems connected with the digital currencies that are threatening its sustainable growth and assess the concept in regard to the economic theories.
In order to reach the primary aim of the thesis, survey and interviews have been made. All respondents are showing their own experience of dealing with Bitcoin/Ethereum. The target of the research was to help support the theoretical outcomes or provide additional first-hand knowledge as well as show the macroeconomic perspective of the virtual currencies. The research brings value and understanding into the complex operations of digital currencies and blockchain technology.
The theoretical part provides an overview of cryptocurrencies concept as well as the specifics of blockchain technology. Ethereum and Bitcoin virtual currencies are presented, analysed and compared. Cryptocurrencies, and particularly Bitcoin and Ethereum, have become one of the key topics of interest from both organizational and consumers‘ perspectives, therefore an insight into the decentralized cryptocurrencies is presented. As far as Bitcoin and Ethereum “boom” is growing, analysis of whether cryptocurrencies are offering a sustainable alternative to traditional money is shown.
The analysis of cryptocurrencies is an integral part of my research, which also includes the following main objectives:
• to find and show the main issues of cryptocurrencies
• to conduct a survey and interviews about the effects of the digital currencies on the economic development
• to find the main problems connected with the digital currencies that are threatening its sustainable growth and assess the concept in regard to the economic theories.
In order to reach the primary aim of the thesis, survey and interviews have been made. All respondents are showing their own experience of dealing with Bitcoin/Ethereum. The target of the research was to help support the theoretical outcomes or provide additional first-hand knowledge as well as show the macroeconomic perspective of the virtual currencies. The research brings value and understanding into the complex operations of digital currencies and blockchain technology.