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Estimating Bitcoin Electricity Use: A Beginner’s Guide

The rapid emergence of Bitcoin and other cryptocurrencies has taken many in the energy sector by surprise. This report summarizes complexities and pitfalls in analyzing the electricity demand of new...

Open Matters: Why Permissionless Blockchains are Essential to the Future of the Internet

This report offers a non-technical but thorough explanation of “blockchain technology” with a focus on the key variables within consensus mechanism design that differentiate so-called permissioned or closed and permissionless...

Bitcoin: A Primer for Policymakers

Overcoming Obstacles to Banking Virtual Currency Businesses

Virtual currency businesses (“VCBs”) offer an alternative payment rail to traditional banks and financial institutions. In order to operate, though, VCBs themselves rely on banks to conduct fundamental payment, savings,...

The New Palgrave Dictionary of Economics: cryptocurrency