Wikipedia and Digital Currencies: Interplay Between Collective Attention and Market Performance - CORE Reader
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We identifiedreverts by selecting edits comments containing the word “rv” or“revert” (Kittur et al., 2007b), and by creating an MD5 hashingscheme (Rivest, 1998) to identify identical files. Bitcoin gained popularity and was joined by more than2, 000 cryptocurrencies1. Some of these cryptocurren
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Summary
This article explores the relationship between Wikipedia attention and the market performance of digital currencies. The study used edits and comments on Wikipedia to identify the popularity of different cryptocurrencies. It found that Bitcoin gained popularity and was followed by thousands of other cryptocurrencies. The study also used market data, such as daily price and market capitalization, to analyze the performance of these cryptocurrencies. The results suggest that Wikipedia can be used as a proxy for overall attention on the web, and that market performance is influenced by collective attention.
Top Highlights
- We identifiedreverts by selecting edits comments containing the word “rv” or“revert” (Kittur et al., 2007b), and by creating an MD5 hashingscheme (Rivest, 1998) to identify identical files.
- Bitcoin gained popularity and was joined by more than2, 000 cryptocurrencies1. Some of these cryptocurrencies(altcoins) are replicas of Bitcoin with small changes in terms ofprotocols and implementation, while others adopted entirelydifferent protocols.
- Capitalizing on recent results showing that Wikipedia can be used as a proxyfor the overall attention on the web (Yoshida et al., 2015),
- Market data include daily price, exchange volume, andmarket capitalization of cryptocurrencies, all of which werecollected from the “Coinmarketcap” website1
- The marketshare is the market capitalization of a cryptocurrency normalizedby the total market capitalization of the market.
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