The research team into the Crypto Code Price Correlation has reported that more research needs to be done on the subject. This is coming after the team released a report on their research findings to correlate crypto code with prices.
Andrea Baronchelli, the researcher at the Economic Data Science Team, reported that there could be more research on the crypto code and price connection later, as the recent release of the preprint report is not satisfactory.
He said the released preprint report is the first stage towards finding out whether crypto codes and their prices are connected.
“We plan to look at what happens when multiple developers work on the same two projects,” he said, pointing out that the team is eagerly waiting for the updates the additional research will bring.
He further reiterated that the team’s analysis focused on pairs of cryptos. But there should be more research to find out if there are more expansive network impacts on market behavior when paired with multiple cryptos.
The preprint revealed the correlation between crypto code and developer
Report of the preprint released last week showed that there is a relationship between the developers and their crypto-asset prices. It means that a correlation exists between the prices of these crypto-assets and the developers who wrote the code for the assets.
Cryptocurrencies are traditionally decentralized in nature and operate as separate entities. However, findings from the research revealed that the prices of crypto assets could move in a certain direction, based on the developers that designed them.
The research stemmed from the observation of the mainstream crypto community’s interpretation of the phrase, “code is law”. From the community’s point of view, the phrase means that there is no link between assets because of their different underpinnings. That’s the basis of the research by Barochelli and his team.
However, before embarking on the research, Baronchelli revealed that his team is already aware of the effect of network correlation on a greater number of fields, including the wider science world and the open-source dimension.
He further revealed that the team started looking into the diverse assets different developers have designed, with emphasis on any overlap. From the findings of the research, 4% of the entire developers had a hand in a wide range of crypto assets.
Furthermore, the team researched the impact of each asset prices as a result of the asset correlations. Baronchelli revealed that the findings of the data agreed with the team’s initial assertion. Once a link has been established between codes, the prices of those cryptos start correlating. That means, if there is a fall in the price of one, it could lead to the fall in the price of the other.