Anchoring the Value of Cryptocurrency

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

Standard

Anchoring the Value of Cryptocurrency. / Xu, Yibin; Huang, Yangyu.

IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering. ed. / Roberto Tonelli; Stephane Ducasse; Andrea Bracciali; Santiago Bragagnolo; Michele Marchesi. Institute of Electrical and Electronics Engineers Inc., 2020. p. 30-36 9050264 (IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering).

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

Harvard

Xu, Y & Huang, Y 2020, Anchoring the Value of Cryptocurrency. in R Tonelli, S Ducasse, A Bracciali, S Bragagnolo & M Marchesi (eds), IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering., 9050264, Institute of Electrical and Electronics Engineers Inc., IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering, pp. 30-36, 3rd IEEE International Workshop on Blockchain Oriented Software Engineering, IWBOSE 2020, London, Canada, 18/02/2020. https://doi.org/10.1109/IWBOSE50093.2020.9050264

APA

Xu, Y., & Huang, Y. (2020). Anchoring the Value of Cryptocurrency. In R. Tonelli, S. Ducasse, A. Bracciali, S. Bragagnolo, & M. Marchesi (Eds.), IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering (pp. 30-36). [9050264] Institute of Electrical and Electronics Engineers Inc.. IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering https://doi.org/10.1109/IWBOSE50093.2020.9050264

Vancouver

Xu Y, Huang Y. Anchoring the Value of Cryptocurrency. In Tonelli R, Ducasse S, Bracciali A, Bragagnolo S, Marchesi M, editors, IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering. Institute of Electrical and Electronics Engineers Inc. 2020. p. 30-36. 9050264. (IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering). https://doi.org/10.1109/IWBOSE50093.2020.9050264

Author

Xu, Yibin ; Huang, Yangyu. / Anchoring the Value of Cryptocurrency. IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering. editor / Roberto Tonelli ; Stephane Ducasse ; Andrea Bracciali ; Santiago Bragagnolo ; Michele Marchesi. Institute of Electrical and Electronics Engineers Inc., 2020. pp. 30-36 (IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering).

Bibtex

@inproceedings{5ae4ecf7826e40098f67977286d30aeb,

title = "Anchoring the Value of Cryptocurrency",

abstract = "A decade long thrive of cryptocurrency has shown its potential as a source of alternative-finance and the security and the robustness of the underpinning blockchain technology. However, most cryptocurrencies fail to show inimitability and their meanings in the real world. As a result, they usually start off as favourites but quickly become the outcasts of the digital asset market. The blockchain society attempts to anchor the value of cryp-tocurrency with real values by employing smart contracts and link it with computation resources and the digital-productivity that have value and demands in the real world. But their attempts have some undesirable effects due to a limited number of practical applications. This limitation is caused by the dilemma between high performance and decentralisation (universal join-ability). The emerging of blockchain sharding models, however, has offered a possible solution to address this dilemma. In this paper, we explore a financial model for blockchain sharding that will build an active link between the value of cryptocurrency and computation resources as well as the market and labour behaviours. Our model can adjust the price of resources and the compensation for maintaining a system based on those behaviours. We anchor the value of cryptocurrency by the amount of computation resources participated in and give the cryptocurrency a meaning as the exchange between computation resources globally. Finally, we present a working example which, through financial regularities, regulates the behaviour of anonymous participants, also incents/discourages participation dynamically.",

keywords = "alternative finance, Blockchain, Cryptocurrency, financial model",

author = "Yibin Xu and Yangyu Huang",

note = "Publisher Copyright: {\textcopyright} 2020 IEEE.; 3rd IEEE International Workshop on Blockchain Oriented Software Engineering, IWBOSE 2020 ; Conference date: 18-02-2020",

year = "2020",

month = feb,

doi = "10.1109/IWBOSE50093.2020.9050264",

language = "English",

series = "IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering",

pages = "30--36",

editor = "Roberto Tonelli and Stephane Ducasse and Andrea Bracciali and Santiago Bragagnolo and Michele Marchesi",

booktitle = "IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

}

RIS

TY - GEN

T1 - Anchoring the Value of Cryptocurrency

AU - Xu, Yibin

AU - Huang, Yangyu

PY - 2020/2

Y1 - 2020/2

N2 - A decade long thrive of cryptocurrency has shown its potential as a source of alternative-finance and the security and the robustness of the underpinning blockchain technology. However, most cryptocurrencies fail to show inimitability and their meanings in the real world. As a result, they usually start off as favourites but quickly become the outcasts of the digital asset market. The blockchain society attempts to anchor the value of cryp-tocurrency with real values by employing smart contracts and link it with computation resources and the digital-productivity that have value and demands in the real world. But their attempts have some undesirable effects due to a limited number of practical applications. This limitation is caused by the dilemma between high performance and decentralisation (universal join-ability). The emerging of blockchain sharding models, however, has offered a possible solution to address this dilemma. In this paper, we explore a financial model for blockchain sharding that will build an active link between the value of cryptocurrency and computation resources as well as the market and labour behaviours. Our model can adjust the price of resources and the compensation for maintaining a system based on those behaviours. We anchor the value of cryptocurrency by the amount of computation resources participated in and give the cryptocurrency a meaning as the exchange between computation resources globally. Finally, we present a working example which, through financial regularities, regulates the behaviour of anonymous participants, also incents/discourages participation dynamically.

AB - A decade long thrive of cryptocurrency has shown its potential as a source of alternative-finance and the security and the robustness of the underpinning blockchain technology. However, most cryptocurrencies fail to show inimitability and their meanings in the real world. As a result, they usually start off as favourites but quickly become the outcasts of the digital asset market. The blockchain society attempts to anchor the value of cryp-tocurrency with real values by employing smart contracts and link it with computation resources and the digital-productivity that have value and demands in the real world. But their attempts have some undesirable effects due to a limited number of practical applications. This limitation is caused by the dilemma between high performance and decentralisation (universal join-ability). The emerging of blockchain sharding models, however, has offered a possible solution to address this dilemma. In this paper, we explore a financial model for blockchain sharding that will build an active link between the value of cryptocurrency and computation resources as well as the market and labour behaviours. Our model can adjust the price of resources and the compensation for maintaining a system based on those behaviours. We anchor the value of cryptocurrency by the amount of computation resources participated in and give the cryptocurrency a meaning as the exchange between computation resources globally. Finally, we present a working example which, through financial regularities, regulates the behaviour of anonymous participants, also incents/discourages participation dynamically.

KW - alternative finance

KW - Blockchain

KW - Cryptocurrency

KW - financial model

UR - http://www.scopus.com/inward/record.url?scp=85083292602&partnerID=8YFLogxK

U2 - 10.1109/IWBOSE50093.2020.9050264

DO - 10.1109/IWBOSE50093.2020.9050264

M3 - Article in proceedings

AN - SCOPUS:85083292602

T3 - IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering

SP - 30

EP - 36

BT - IWBOSE 2020 - Proceedings of the 2020 IEEE 3rd International Workshop on Blockchain Oriented Software Engineering

A2 - Tonelli, Roberto

A2 - Ducasse, Stephane

A2 - Bracciali, Andrea

A2 - Bragagnolo, Santiago

A2 - Marchesi, Michele

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 3rd IEEE International Workshop on Blockchain Oriented Software Engineering, IWBOSE 2020

Y2 - 18 February 2020

ER -

ID: 300914282