The Microeconomics of Cryptocurrencies

Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies, and blockchains. While the discussions initially took place mostly on blogs other popular media, we now are witnessing emergence of a growing body rigorous academic research these topics. By nature phenomenon analyzed, this spans many disciplines including macroeconomics, law economics, computer science. This survey focuses microeconomics crypto-currencies themselves. What drives their supply, demand, trading price, competition amongst them? literature emerging over past decade purpose paper is to summarize main findings so as establish base upon which future can be conducted. (JEL D82, E42, G12)