|Author||Gregory S. Rowland, Trevor Kiviat|
|Link||View Research Paper|
Digital assets can serve several functions. Some digital assets, such as Bitcoin or Litecoin, are widely regarded as decentralized stores of value or mediums of exchange due to certain common economic features that support these functions; these are sometimes referred to as “pure cryptocurrencies.” Other digital assets, such as Monero or Zcash, are a subset of pure cryptocurrencies that also possess certain features designed to enhance transaction privacy and confidentiality (“privacy-focused coins”). Beyond pure cryptocurrencies and privacy-focused coins, there exists a broad array of general purpose digital assets (“platform coins”), such as Ethereum, NEO and Ravencoin, which are designed to facilitate various peer-to-peer activity, from decentralized software applications to “smart” contracts to digital collectibles, such as CryptoKitties. Platform coins also enable the creation of new digital assets called “tokens”, which are described further herein.