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Flexible Majority Rules for Cryptocurrency Issuance
| Content Provider | Scilit |
|---|---|
| Author | Gersbach, Hans |
| Copyright Year | 2019 |
| Description | Journal: SSRN Electronic Journal We suggest that flexible majority rules for currency issuance decisions foster the stability of a cryptocurrency. With flexible majority rules, the voteshare needed to approve a particular currency issuance growth is increasing with this growth rate. By choosing suitable parameters for these flexible majority rules, we show that optimal growth rates can be achieved in simple settings. Moreover, with flexible majority rules, changes in the composition of growth-friendly and growth-adverse agents only have a comparatively moderate impact on growth rates, and extreme growth rates are avoided. Finally, we show that optimal money growth rates are realized if agents entering financial contracts anticipate ensuing inflation rates determined by these flexible majority rules. |
| Related Links | https://www.econstor.eu/bitstream/10419/207144/1/166859093X.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3406656 |
| ISSN | 10914358 |
| e-ISSN | 15565068 |
| DOI | 10.2139/ssrn.3406656 |
| Journal | SSRN Electronic Journal |
| Language | English |
| Publisher | Elsevier BV |
| Publisher Date | 2019-06-01 |
| Access Restriction | Open |
| Subject Keyword | Journal: SSRN Electronic Journal Digital Currency Central Bank Majority Rule Flexible Majority Rules |
| Content Type | Text |
| Resource Type | Article |
| Subject | Public Health, Environmental and Occupational Health Psychiatry and Mental Health |
