English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Tools annual

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools monthly

Global: Zendy Plus monthly

Presents the access of premium content as premium feature

Premium Content

Global: Zendy Plus annual

Global: Zendy Free Plan

We empirically verify that the market capitalisations of coins and tokens inthe cryptocurrency universe follow power-law distributions with significantlydifferent values, with the tail exponent falling between 0.5 and 0.7 for coins,and between 1.0 and 1.3 for tokens. We provide a rationale for this, based on asimple proportional growth with birth & death model previously employed todescribe the size distribution of firms, cities, webpages, etc. We empiricallyvalidate the model and its main predictions, in terms of proportional growth(Gibrat's law) of the coins and tokens. Estimating the main parameters of themodel, the theoretical predictions for the power-law exponents of coin andtoken distributions are in remarkable agreement with the empirical estimations,given the simplicity of the model. Our results clearly characterize coins asbeing "entrenched incumbents" and tokens as an "explosive immature ecosystem",largely due to massive and exuberant Initial Coin Offering activity in thetoken space. The theory predicts that the exponent for tokens should convergeto 1 in the future, reflecting a more reasonable rate of new entrantsassociated with genuine technological innovations.

Classification of cryptocurrency coins and tokens by the dynamics of their market capitalisations