Beyond Bitcoin: The Economics of Cryptocurrencies and Blockchain Technologies (Chapter 6: Smart Contracts and Blockchain)

Beyond Bitcoin: The Economics of Digital Currencies and Blockchain Technologies, 2nd ed, Forthcoming

40 Pages Posted: 2 Sep 2021 Last revised: 3 Sep 2021

See all articles by Hanna Halaburda

Hanna Halaburda

New York University (NYU) - Leonard N. Stern School of Business

Miklos Sarvary

Columbia Business School - Marketing

Guillaume Haeringer

CUNY Baruch College

Date Written: June 14, 2021

Abstract

In this chapter we discuss smart contracts and functionalities they afford, especially in combination with blockchain. 6.1. The rise of Ethereum. 6.1.1. History. 6.1.2. Ethereum is “different”. 6.2. Smart contracts. 6.2.1. Smart contracts on Ethereum. 6.2.2. What do smart contracts need a blockchain for? 6.3. Tokens. 6.3.1. What are tokens? 6.3.2. Use of tokens. 6.4. Initial coin offering. 6.5 Non-fungible tokens. 6.5.1 NFTs and Smart contracts do not solve digital art ownership problems. 6.5.2. New markets enabled by NFTs. 6.6. DAPPS. 6.7 Blockchain governance, DAPPS and smart contracts.

For Chapter 1 (Introduction), see https://ssrn.com/abstract=3135021.
For Chapter 2 (Means of Exchange: Ever-present Competition), see https://ssrn.com/abstract=3135028.
For Chapter 3 (Platform-based Currencies), see https://ssrn.com/abstract=3135030.
For Chapter 4 (Bitcoin and Emergence of Cryptocurrencies), see https://ssrn.com/abstract=3135043.
For Chapter 5 (The Rich Land of Crypto), see https://ssrn.com/abstract=3135057.
For Chapter 6 (Smart Contracts and Blockchain), see https://ssrn.com/abstract=3894110.
For Chapter 7 (Enterprise Blockchains), see https://ssrn.com/abstract=3894117.
For Chapter 8 (Conclusions: Future Full of Possibilities), see https://ssrn.com/abstract=3894118.

Keywords: Bitcoin, digital currencies, network effects, cryptocurrencies

JEL Classification: D8, E4, G2, O3, D83, D84, E42, G21, G23, O33

Suggested Citation

Halaburda, Hanna and Sarvary, Miklos and Haeringer, Guillaume, Beyond Bitcoin: The Economics of Cryptocurrencies and Blockchain Technologies (Chapter 6: Smart Contracts and Blockchain) (June 14, 2021). Beyond Bitcoin: The Economics of Digital Currencies and Blockchain Technologies, 2nd ed, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3894110 or http://dx.doi.org/10.2139/ssrn.3894110

Hanna Halaburda (Contact Author)

New York University (NYU) - Leonard N. Stern School of Business ( email )

44 West 4th Street
New York, NY NY 10012
United States

Miklos Sarvary

Columbia Business School - Marketing ( email )

New York, NY 10027
United States

Guillaume Haeringer

CUNY Baruch College ( email )

17 Lexington Avenue
New York, NY 10021
United States

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