Uncovering the secrets of bitcoin's success
Author(s)Kosgi, Karthic Prasad
Massachusetts Institute of Technology. Engineering Systems Division.
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Bitcoin is a cryptocurrency and a decentralized payment system. The transactions between two parties are approved not by a central institution but by the peers of the network. Bitcoin uses cryptography and software algorithms to control the units of generation and to verify the transactions on the network. However, bitcoin is the not the only cryptocurrency with these capabilities. There are more than 600 cryptocurrencies in the market. Nonetheless, bitcoin is the most successful cryptocurrency to date with the highest market cap, transaction volume, merchant adoption, and venture capital investments. In this thesis, the author investigates why bitcoin is the most successful cryptocurrency to date. The author's research identified that bitcoin's success is rooted in its ability to become an effective multisided platform with network effects.
Thesis: S.M. in Engineering and Management, Massachusetts Institute of Technology, School of Engineering, System Design and Management Program, Engineering and Management Program, 2016.Cataloged from PDF version of thesis.Includes bibliographical references (pages 74-79).
DepartmentMassachusetts Institute of Technology. Engineering and Management Program; System Design and Management Program.
Massachusetts Institute of Technology
Engineering and Management Program., System Design and Management Program., Engineering Systems Division.