Money Innovations Enabled by Blockchain Technologies: From Cryptocurrency to Cryptomoney
This Ph.D. thesis paves the way for turning cryptocurrencies into cryptomonies. The difference between cryptocurrency and cryptomoney is that the latter is reliable, functioning as a Decentralized Payment System, and is also environmentally sustainable. The first research work analyses the price difference behavior of ERC-20 tokens, providing insights into the forthcoming many-money cryptoeconomies. The second research article fixes the problem with Morini’s stablecoin scheme by using antimoney to form a many-money economy that allows for trading, even when the Savings wallet’s money funds are frozen. The novel method should turn cryptocurrencies into cryptomonies because both unit-of-account and store-of-value are stabilized. As an interesting side-effect, there will be a new way to distribute cryptomoney to the economy by simultaneously giving equal amounts of money and antimoney units. The third research introduces hash recycling as a Justification (value-increasing) technology and reversible bitcoin mining as a Green (energy-decreasing) technology. The fourth research is a survey categorizing many interesting technologies into Green, Justification and ‘Mix of Both’ technologies. The following categories are proposed in this thesis as two new properties for (sound) cryptomonies: greenness and justness. The fifth research is a perspective article that connects three different computing categories
of cryptocurrency mining, grid (volunteer) computing and unconventional computing.
Keywords: Bitcoin, cryptocurrency, cryptomoney, blockchain, distributed ledger technology, unconventional computing, grid computing, cryptocurrency mining, volunteer computing, stablecoin, DeFi, hash recycling,
reversible computing
...
Publisher
Jyväskylän yliopistoISBN
978-951-39-9262-0ISSN Search the Publication Forum
2489-9003Contains publications
- Artikkeli I: Heinonen, H. T., Semenov, A., & Boginski, V. (2020). Collective Behavior of Price Changes of ERC-20 Tokens. In S. Chellappan, K.-K. R. Choo, & N. Phan (Eds.), Computational Data and Social Networks : 9th International Conference, CSoNet 2020, Dallas, TX, USA, December 11–13, 2020, Proceedings (pp. 487-498). Springer. Lecture Notes in Computer Science, 12575. DOI: 10.1007/978-3-030-66046-8_40
- Artikkeli II: Heinonen, H. T. (2021). On Creation of a Stablecoin Based on the Morini's Scheme of Inv&Sav Wallets and Antimoney. In Y. Xiang, Z. Wang, H. Wang, & V. Niemi (Eds.), Blockchain 2021 : Proceedings of the 2021 IEEE International Conference on Blockchain. IEEE. DOI: 10.1109/Blockchain53845.2021.00064
- Artikkeli III: Heinonen, H. T., & Semenov, A. (2022). Recycling Hashes from Reversible Bitcoin Mining to Seed Pseudorandom Number Generators. In K. Lee, & L.-J. Zhang (Eds.), Blockchain – ICBC 2021 : 4th International Conference, Held as Part of the Services Conference Federation, SCF 2021, Virtual Event, December 10–14, 2021, Proceedings (pp. 103-117). Springer. Lecture Notes in Computer Science, 12991. DOI: 10.1007/978-3-030-96527-3_7
- Artikkeli IV: Heinonen, H. T., Semenov, A., Veijalainen, J., & Hämäläinen, T. (2022). A Survey on Technologies Which Make Bitcoin Greener or More Justified. IEEE Access, 10, 74792-74814. DOI: 10.1109/ACCESS.2022.3190891
- Artikkeli V: Heinonen, H. T. and Semenov, A. (2022). Bitcoin Mining Could Revolutionize Grid Computing and Unconventional Computing. Unpublished.
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