2019
DOI: 10.1111/glob.12241
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Crypto‐coin hierarchies: social contestation in blockchain networks

Abstract: In this article, I discuss the role of crypto‐coins (CCs) as an explicit response to the 2008 economic crisis. Drawing on networked social movement theory, I outline the tension between blockchain based currencies promoted as horizontal markets of technological innovation and the persistence of hierarchical authority within these networks. By examining the assumptions about authority and regulation that underpin the creation of CCs I argue that the cryptographic responses to the financial crisis understate the… Show more

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Cited by 7 publications
(3 citation statements)
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“…SolarCoin represents an alternative digital coin that uses a Proof-of-Stake blockchain to stimulate solar electricity production [49][50][51].…”
Section: Comparison Of the Advanced Methods For Energy Transactionmentioning
confidence: 99%
“…SolarCoin represents an alternative digital coin that uses a Proof-of-Stake blockchain to stimulate solar electricity production [49][50][51].…”
Section: Comparison Of the Advanced Methods For Energy Transactionmentioning
confidence: 99%
“…Paired with new encryption methods arising from developments in cryptography, this particular structuring of the blockchain forms the basis for the promotion of initial cryptocurrencies as 'horizontal markets' (Bousfield 2019). The cryptoanarchist and cypherpunk visions underpinning Bitcoin's emergence were both founded on a strong distrust for centralized governance, particularly of financial markets (Hughes 1993;May 1988).…”
Section: P2p Horizontality: Structure and Practicementioning
confidence: 99%
“…The overall diversification of the blockchain/cryptocurrency space resulted in significant diversification of customized code that allowed alternative cryptocurrencies (e.g., "AltCoins") to proliferate within the early (2009-2017) phases of the cryptographic asset era [83,84]. In the context of asset holding, the logistics of diversification became formidable because of the requirement for cryptocurrencyspecific "wallets" to be deployed for each unique asset.…”
Section: Technical Aspects Of Index-based Approachesmentioning
confidence: 99%