  Cryptocurrency refers to a type of digital asset that uses distributed
ledger, or blockchain, technology to enable a secure transaction. Although the
technology is widely misunderstood, many central banks are considering
launching their own national cryptocurrency. In contrast to most data in
financial economics, detailed data on the history of every transaction in the
cryptocurrency complex are freely available. Furthermore, empirically-oriented
research is only now beginning, presenting an extraordinary research
opportunity for academia. We provide some insights into the mechanics of
cryptocurrencies, describing summary statistics and focusing on potential
future research avenues in financial economics.
