Abstract:

With the use of cryptocurrencies in the international markets, the lack of a control mechanism as the values of national currencies are determined and the lack of legal infrastructure is the biggest disadvantage. In addition to these disadvantages, the most important thing that concerns the markets is whether cryptocurrencies will be used as real currencies. The aim of the study is to determine whether cryptocurrencies can provide the basic functions of the money with the help of an application by trying to reveal the blockchain technology. In this phase, five different cryptocurrencies were evaluated using the first and second generation unit root tests in time intervals and analyzed whether cryptocurrencies could not meet the functions of money as a savings tool and account unit, such as normal currencies.

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