Ledger最新文献 - Book学术

Decentralization, Blockchains, and the Development of Smart Communities in Economically Challenging Environments 去中心化、区块链和在面临经济挑战的环境中发展智能社区

IF 0.7

Ledger Pub Date : 2024-06-07 DOI: 10.5195/ledger.2024.302

Brett Bourbon, R. Murimi

引用次数: 0

A Note from the Editors 编者的话

IF 0.7

Ledger Pub Date : 2024-01-11 DOI: 10.5195/ledger.2023.332

Richard Ford Burley

引用次数: 0

Tokenized Carbon Credits 代币化碳信用额

IF 0.7

Ledger Pub Date : 2023-12-19 DOI: 10.5195/ledger.2023.294

Derek Sorensen

引用次数: 0

Irrational Economic Action: Running a Bitcoin Lightning Node for Negative Profit 非理性经济行为：运行比特币闪电节点获取负利润

IF 0.7

Ledger Pub Date : 2023-12-06 DOI: 10.5195/ledger.2023.289

Edward Gotham

{"title":"Irrational Economic Action: Running a Bitcoin Lightning Node for Negative Profit","authors":"Edward Gotham","doi":"10.5195/ledger.2023.289","DOIUrl":"https://doi.org/10.5195/ledger.2023.289","url":null,"abstract":"Bitcoin’s layer 2 (L2) solution is a payment channel network (PCN) that has an internal market of its own. Businesses (node operators) compete on a cost basis to maximize use of their locked liquidity by minimizing channel fees. From an economic perspective this is a standard profit maximization problem, however as described in Béres, Seres, and Benczúr (2021), profit on node operation is so low that it is economically irrational. Despite this, the number of nodes continues to grow, even as the price of Bitcoin declines. Many node businesses likely operate at a net USD loss, especially when factors such as labor and loss of access to capital are considered. This paper is an economist’s account of entering into an apparently irrational market. Due to difficulties with surveying node operators, the primary objective of the paper, uncovering the reason for financial loss making activity, was not discovered, however this paper is the first to: describe the internal L2 market for routing; provide basic business balance sheet items for a median scale node; describe the on-boarding process of node operation; and identify the need for differentiation of personal/routing/hybrid nodes.The market for routing is near-perfect in terms of internal competition, but sub-optimally arranged. Operating losses that many node operators face appear to be rationalized as a “fiat only” loss, node operators exist within a Bitcoin-only profit paradigm. Computing the actual fiat profit margin is not possible, due to insufficient data regarding the average fiat cost of the bitcoin deposited to provide routing liquidity.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138594903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Blockchains and Triple-Entry Accounting for B2B Business Models 区块链与B2B商业模式的三重入账

IF 0.7

Ledger Pub Date : 2023-07-25 DOI: 10.5195/ledger.2023.288

Muhammad Imran Sarwar, Kashif Nisar, Imran Khan, Danish Shehzad

{"title":"Blockchains and Triple-Entry Accounting for B2B Business Models","authors":"Muhammad Imran Sarwar, Kashif Nisar, Imran Khan, Danish Shehzad","doi":"10.5195/ledger.2023.288","DOIUrl":"https://doi.org/10.5195/ledger.2023.288","url":null,"abstract":"A blockchain is a distributed ledger (DL) that records and tracks of transactions on a P2P network. It was originally designed for cryptocurrencies, but it is now used in healthcare, supply chain management, finance, and many more fields due to its security and trustworthiness. Trust and security are critical factors in any business, and the B2B model is no exception. In businesses, trust becomes more critical when the stakes are higher and the relationships are more complex. Centuries-old Double-Entry Accounting (DEA) is still used as an underlying accounting practice, and its reliability and efficiency are beyond question. But a critical review of DEA reveals that it lacks support for B2B transactions, as the two parties maintain their accounting books without cross-checks and verifications that may lead to an implausible situation. Triple-Entry Accounting (TEA) is an emerging accounting practice introduced in the recent past to overcome the limitations of DEA. It only applies if an outside person or business is involved in a transaction and is not meant to record any internal business transactions. Recording transactions on a blockchain and entering the third transaction via TEA are conceptually the same. The potential of blockchain-based TEA can address the challenges of the B2B business model and overcome some specific limitations of DEA. This study aims to survey the current state of the adaptation of blockchains and TEA in B2B transactions. The methodology used in this study can be classified as exploratory qualitative research and is based on the latest literature on the topics. The findings of this study would deepen our understanding of blockchains and TEA for B2B transactions as they highlight new opportunities and challenges.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48971533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

A Token Economics Explanation for the De-Pegging of the Algorithmic Stablecoin: Analysis of the Case of Terra 算法稳定币去钉扎的代币经济学解释——以Terra为例分析

IF 0.7

Ledger Pub Date : 2023-04-07 DOI: 10.5195/ledger.2023.283

Jae-Hwi Cho

引用次数: 0

Economics of Open-Source Solar Photovoltaic Powered Cryptocurrency Mining 开源太阳能光伏驱动加密货币挖矿的经济学

IF 0.7

Ledger Pub Date : 2023-02-27 DOI: 10.2139/ssrn.4205879

Matthew Tiger McDonald, K. S. Hayibo, Finn Hafting, J. Pearce

{"title":"Economics of Open-Source Solar Photovoltaic Powered Cryptocurrency Mining","authors":"Matthew Tiger McDonald, K. S. Hayibo, Finn Hafting, J. Pearce","doi":"10.2139/ssrn.4205879","DOIUrl":"https://doi.org/10.2139/ssrn.4205879","url":null,"abstract":"Solar photovoltaic (PV) technology offers a promising means to alleviate environmental and electricity costs challenges for cryptocurrency miners. To analyze this promise, this study investigated the feasibility of using electricity from individually optimized PV systems to power: 1) an individual Bitcoin miner, 2) a DIY intermodal shipping container holding 50 miners, and 3) a commercial mining farm container holding 408 miners. In a controlled lab environment, miners were monitored for electricity use. Then using these values, numerical simulations of both the PV system yield and sensitivity ranges based on the Bitcoin price, Bitcoin halving events, and miner hardware were investigated for informed financial planning. In addition, sensitivity for geographic locations in North America, utility electric rates and PV capital costs were analyzed. The profitability and return on investment (ROI) varied by location primarily because of the geographic distribution of solar flux and utility rates. The ROI for using PV with Bitcoin mining was found to be negative for Toronto and Montreal because of low-cost electricity, while it was 8% for Calgary. In the U.S. cities evaluated, the ROIs were substantial and ranged from 34% in New York, to 64% in Boulder, and up to 104% in Los Angeles. Although the study is based in North America regarding energy rates, climate, and energy laws, the analysis methodology is generalizable globally and grants the average cryptocurrency business the knowledge to make an informed decision on whether to pursue this venture from a financial and environmental perspective. This study contributes to the body of knowledge in cryptocurrency mining by providing an economic means of environmental preservation by powering cryptocurrency miners with renewable solar energy.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48160301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Economics of Open-Source Solar Photovoltaic Powered Cryptocurrency Mining 开源太阳能光伏驱动的加密货币挖矿的经济学

Ledger Pub Date : 2023-02-27 DOI: 10.5195/ledger.2023.278

Matthew Tiger McDonald, Koami Soulemane Hayibo, Finn Hafting, Joshua Pearce

{"title":"Economics of Open-Source Solar Photovoltaic Powered Cryptocurrency Mining","authors":"Matthew Tiger McDonald, Koami Soulemane Hayibo, Finn Hafting, Joshua Pearce","doi":"10.5195/ledger.2023.278","DOIUrl":"https://doi.org/10.5195/ledger.2023.278","url":null,"abstract":"Solar photovoltaic (PV) technology offers a promising means to alleviate environmental and electricity costs challenges for cryptocurrency miners. To analyze this promise, this study investigated the feasibility of using electricity from individually optimized PV systems to power: 1) an individual Bitcoin miner, 2) a DIY intermodal shipping container holding 50 miners, and 3) a commercial mining farm container holding 408 miners. In a controlled lab environment, miners were monitored for electricity use. Then using these values, numerical simulations of both the PV system yield and sensitivity ranges based on the Bitcoin price, Bitcoin halving events, and miner hardware were investigated for informed financial planning. In addition, sensitivity for geographic locations in North America, utility electric rates and PV capital costs were analyzed. The profitability and return on investment (ROI) varied by location primarily because of the geographic distribution of solar flux and utility rates. The ROI for using PV with Bitcoin mining was found to be negative for Toronto and Montreal because of low-cost electricity, while it was 8% for Calgary. In the U.S. cities evaluated, the ROIs were substantial and ranged from 34% in New York, to 64% in Boulder, and up to 104% in Los Angeles. Although the study is based in North America regarding energy rates, climate, and energy laws, the analysis methodology is generalizable globally and grants the average cryptocurrency business the knowledge to make an informed decision on whether to pursue this venture from a financial and environmental perspective. This study contributes to the body of knowledge in cryptocurrency mining by providing an economic means of environmental preservation by powering cryptocurrency miners with renewable solar energy.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135891771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

A Note from the Editors 编辑们的注释

IF 0.7

Ledger Pub Date : 2023-02-20 DOI: 10.5195/ledger.2022.296

Richard Ford Burley

引用次数: 0

Coin Transfer Unlinkability Under the Counterparty Adversary Model 对手对手模型下的货币转移不可链接性

IF 0.7

Ledger Pub Date : 2022-08-29 DOI: 10.5195/ledger.2022.260

Takeshi Miyamae, Kanta Matsuura

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引用次数: 1