NERA Director Dr. C.-Phillipp Heller and co-author Dr. Florian Deuflhard published “Antitrust Economics of Cryptocurrency Mining” in the Journal of Competition Law & Economics. Their article uses economic tools to analyze cryptocurrency mining, covering topics related to market definition, theories of harm related to 51% attacks and selfish mining, and assessments of mergers among cryptocurrency miners. Dr. Heller emphasizes the role of antitrust law in preventing network attacks, ensuring fair transaction inclusion regardless of fees, and addressing potential exclusionary practices driven by network effects.