Block-chain, Bitcoin, and the possibility of arbitrage

The first chapter of the thesis will include a brief introduction on blockchain core concepts and ideas. The second chapter will cover many topics of utmost importance where the main concepts will be defined, such as: How the blockchain functions, how the ledger system is implemented and how token economies can be formed on top of bookkeeping system. In the third chapter regards the history of bitcoin, it will focus mainly on how it works, the mining costs, the benefits to society and all its features and characteristics. In the fourth chapter, the focus will be on altcoin, specifically on Iota, Ethereum and Ripple, comparing them with Bitcoin, their pros and cons, which will be of the utmost importance for the upcoming chapter. In the fifth chapter, it will regard my personal experience as an individual investor; where all the previous information was used in the costruction of the wallet, at the same time defining the information need and the know how need before and after investing in crypto market, having also a brief summary of my experience as an individual investor entering the token market will also be provided. The sixth chapter and final chapter of this thesis will regard a brief analysis on how transaction costs and arbitrage are linked and how the first will prevent the second from happening.