Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies

Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies

This study was conducted to evaluate the implementation of an open innovation cryptocurrency financial system using a statistical approach. The data array reflects the actual speed of the cryptocurrency system, expressed in transactions per second (TPS), taken as the average annual speed. The articl...

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Main Authors: Valery Titov, Mafura Uandykova, Oleg Litvishko, Tatyana Kalmykova, Sergey Prosekov, Tomonobu Senjyu
Format: Article
Language:English
Published: MDPI AG 2021-03-01
Series:Journal of Open Innovation: Technology, Market and Complexity
Subjects:
cryptocurrency
correlation analysis
velocity
bitcoin
EOS
Online Access:https://www.mdpi.com/2199-8531/7/1/102
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spelling doaj-8c5b640e2d2c4461989730db566e66f82021-03-20T00:07:18ZengMDPI AGJournal of Open Innovation: Technology, Market and Complexity2199-85312021-03-01710210210.3390/joitmc7010102Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing CryptocurrenciesValery Titov0Mafura Uandykova1Oleg Litvishko2Tatyana Kalmykova3Sergey Prosekov4Tomonobu Senjyu5Institute of Mathematics, Information Systems and Digital Economy, Plekhanov Russian University of Economics, 117997 Moscow, RussiaDepartment of Digital Engineering and Data Analysis, Narxoz University, Almaty 050035, KazakhstanInstitute of Mathematics, Information Systems and Digital Economy, Plekhanov Russian University of Economics, 117997 Moscow, RussiaInstitute of Mathematics, Information Systems and Digital Economy, Plekhanov Russian University of Economics, 117997 Moscow, RussiaDepartment of Humanities, Financial University Under the Government of the Russian Federation, 125167 Moscow, RussiaDepartment of Electrical and Electronics Engineering, University of the Ryukyus, Nishihara 903-0213, JapanThis study was conducted to evaluate the implementation of an open innovation cryptocurrency financial system using a statistical approach. The data array reflects the actual speed of the cryptocurrency system, expressed in transactions per second (TPS), taken as the average annual speed. The article offers a comprehensive approach for choosing the optimal cryptocurrency financial system. The final analysis shows that the reasons for the adoption of the cryptocurrency financial system are practicality and convenience, as well as efficient transaction time, faster payment, and simplicity of the payment process. The impact of social factors, expected efforts, and conditions of assistance on the attitude to the cryptocurrency financial system were evaluated. In addition, social factors that have a significant impact on the implementation of the cryptocurrency financial system were identified.https://www.mdpi.com/2199-8531/7/1/102cryptocurrencycorrelation analysisvelocitybitcoinEOS
collection DOAJ
language English
format Article
sources DOAJ
author Valery Titov
Mafura Uandykova
Oleg Litvishko
Tatyana Kalmykova
Sergey Prosekov
Tomonobu Senjyu
spellingShingle Valery Titov
Mafura Uandykova
Oleg Litvishko
Tatyana Kalmykova
Sergey Prosekov
Tomonobu Senjyu
Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies
Journal of Open Innovation: Technology, Market and Complexity
cryptocurrency
correlation analysis
velocity
bitcoin
EOS
author_facet Valery Titov
Mafura Uandykova
Oleg Litvishko
Tatyana Kalmykova
Sergey Prosekov
Tomonobu Senjyu
author_sort Valery Titov
title Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies
title_short Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies
title_full Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies
title_fullStr Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies
title_full_unstemmed Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies
title_sort cryptocurrency open innovation payment system: comparative analysis of existing cryptocurrencies
publisher MDPI AG
series Journal of Open Innovation: Technology, Market and Complexity
issn 2199-8531
publishDate 2021-03-01
description This study was conducted to evaluate the implementation of an open innovation cryptocurrency financial system using a statistical approach. The data array reflects the actual speed of the cryptocurrency system, expressed in transactions per second (TPS), taken as the average annual speed. The article offers a comprehensive approach for choosing the optimal cryptocurrency financial system. The final analysis shows that the reasons for the adoption of the cryptocurrency financial system are practicality and convenience, as well as efficient transaction time, faster payment, and simplicity of the payment process. The impact of social factors, expected efforts, and conditions of assistance on the attitude to the cryptocurrency financial system were evaluated. In addition, social factors that have a significant impact on the implementation of the cryptocurrency financial system were identified.
topic cryptocurrency
correlation analysis
velocity
bitcoin
EOS
url https://www.mdpi.com/2199-8531/7/1/102
work_keys_str_mv AT valerytitov cryptocurrencyopeninnovationpaymentsystemcomparativeanalysisofexistingcryptocurrencies
AT mafurauandykova cryptocurrencyopeninnovationpaymentsystemcomparativeanalysisofexistingcryptocurrencies
AT oleglitvishko cryptocurrencyopeninnovationpaymentsystemcomparativeanalysisofexistingcryptocurrencies
AT tatyanakalmykova cryptocurrencyopeninnovationpaymentsystemcomparativeanalysisofexistingcryptocurrencies
AT sergeyprosekov cryptocurrencyopeninnovationpaymentsystemcomparativeanalysisofexistingcryptocurrencies
AT tomonobusenjyu cryptocurrencyopeninnovationpaymentsystemcomparativeanalysisofexistingcryptocurrencies
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