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The Evolution Of Centralisation on Cryptocurrency Platforms

Author

Listed:
  • Carlo Campajola
  • Raffaele Cristodaro
  • Francesco Maria De Collibus
  • Tao Yan
  • Nicolo' Vallarano
  • Claudio J. Tessone
Abstract
More than ten years ago the blockchain was acclaimed as the solution to overcome centralised trusted third parties for online payments. Through the years the crypto-movement changed and evolved, although decentralisation remained the core ideology and the necessary feature every new crypto-project should provide. In this paper we study the concept of centralisation in cryptocurrencies using a wide array of methodologies from the complex systems literature, on a comparative collection of blockchains, in order to define the many different levels a blockchain system may display (de-)centralisation and to question whether the present state of cryptocurrencies is, in a technological and economical sense, actually decentralised.

Suggested Citation

  • Carlo Campajola & Raffaele Cristodaro & Francesco Maria De Collibus & Tao Yan & Nicolo' Vallarano & Claudio J. Tessone, 2022. "The Evolution Of Centralisation on Cryptocurrency Platforms," Papers 2206.05081, arXiv.org, revised May 2023.
    • Handle: RePEc:arx:papers:2206.05081
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    References listed on IDEAS

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    Cited by:

    1. Lin, Jian-Hong & Marchese, Emiliano & Tessone, Claudio J. & Squartini, Tiziano, 2022. "The weighted Bitcoin Lightning Network," Chaos, Solitons & Fractals, Elsevier, vol. 164(C).

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