Technological Change and Market Conditions: Evidence from Bitcoin Fork

Hyeonoh Kim, Eojin Yi, Daeyong Lee, Kwangwon Ahn

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)


This article examines the impact of technological changes to cryptocurrency - known as "forking"that triggers blockchain splits - on market conditions. Despite the explicit distinction in log return distributions between the two splitting blockchains, adopting new technology does not result in a disparity in market conditions: no significant difference exists in market efficiency and long-term market equilibrium between the two splitting blockchains. Technological changes accompanying market separation do not impede the underlying uniformity in market conditions. The findings suggest that mutual information flows linked to market liquidity explain the results between the new and old forks.

Original languageEnglish
Article number2617752
Publication statusPublished - 2022

Bibliographical note

Publisher Copyright:
© 2022 Hyeonoh Kim et al.

All Science Journal Classification (ASJC) codes

  • General Computer Science
  • General


Dive into the research topics of 'Technological Change and Market Conditions: Evidence from Bitcoin Fork'. Together they form a unique fingerprint.

Cite this