Decrypting Cryptoassets: Introduction To An Emerging Asset Class

55 Pages Posted: 15 Nov 2018 Last revised: 13 Sep 2023

Date Written: August 1, 2019

Abstract

Crypto-assets constitute a large and heterogenous asset class. Only a minority of crypto-assets qualify as crypto-currencies, while the large majority provide services that go beyond Bitcoin’s peer-to-peer payment system pioneered by Nakamoto (2008). This paper introduces a comprehensive taxonomy spanning crypto-currencies, service crypto-assets, smart-contract platforms, distributed applications and tokenized assets (including both fungible and non-fungible tokens). To illustrate stylized facts and capture various risks of the cross-section of crypto-assets this paper relies on a novel dataset covering more than 14,000 crypto-assets.

Keywords: Crypto-currency, Classification, Coins, Tokens and Non-Fungible Tokens

JEL Classification: G19, G23

Suggested Citation

Buchwalter, Bastien, Decrypting Cryptoassets: Introduction To An Emerging Asset Class (August 1, 2019). Available at SSRN: https://ssrn.com/abstract=3271641 or http://dx.doi.org/10.2139/ssrn.3271641

Bastien Buchwalter (Contact Author)

SKEMA Business School ( email )

5 Quai Marcel Dassault
Paris, 92150
France

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