Студент Милош Станковић одбранио је мастер рад на тему Ether as an investment asset, пред комисијом коју су чинили ментор проф. др Бранко Урошевић, као и чланови проф. др Милан Недељковић и проф. др Владимир Васић. Никола је одбраном мастер рада завршио студије на програму MCF (Master in Computational Finance).
У уводу свог рада Милош је истакао:
Blockchain technology and cryptocurrencies created on them are one of the innovations that is getting a lot of attention in the last couple of years. Considering the very volatile price and speculative value, they are the topic of many financial research papers. However, these assets are very hard to evaluate solely based on their quantitative properties. To properly evaluate them, one must understand the technology that they are built on, what innovation it brings, what challenges it tries to solve, etc.
This work focuses on Ether, the native token of the Ethereum blockchain. The decision to focus on Ether is based on the fact that it is the second largest cryptocurrency by market cap, Ethereum ecosystem is where most development and innovation happens, while the technical details are not well known and understood by most investors.
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Ether, the native token of the Ethereum network, is the second largest cryptocurrency token, after Bitcoin. As such, it is gaining more and more interest from investors, both the one focused on blockchain technology and the more traditional one. If pending Exchange Traded Funds (ETF) applications are approved, the interest will significantly increase in the upcoming months.
Unlike Bitcoin, the Ethereum ecosystem is significantly more complex and is under active development. Constant innovation increases the number of use cases, which should be carefully examined and understood. While there are many use cases, a lot of them don’t find good market fit and don’t persist for a longer period.
Ethereum is also exposed to unique types of risks. Understanding those risks and the community plan for solving them is critical for evaluating Ether as an asset. One of the main challenges is scalability, and the Ethereum ecosystem is trying to solve it using layer 2 networks. This on its own adds a significant amount of technical complexity that should be taken into consideration. – закључио је Милош.
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