Tokenomics and Perspectives of Proof of Stake

Chyzhevska, M. and Romanovska, N. and Venger, V. and Sokolov, Volodymyr (2024) Tokenomics and Perspectives of Proof of Stake Digital Economy Concepts and Technologies Workshop 2024, 3665. pp. 61-69. ISSN 1613-0073

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Abstract

Ever since the first block of the Bitcoin network was created, the relevance of research into the assessment of the prospects of the blockchain project is constantly increasing. Ultimately, the economics of a token will have a big impact on how it will be used, how easy it will be to build a network, and whether there will be much interest in the options of its use. The work substantiates that tokenomics allows us to determine which digital assets can be traded or exchanged for other tokens or fiats in the blockchain network. It is noted that the key difference between traditional economics and tokenomics is that the latter is written in code. The authors systematized the elements of tokenomics: supply and demand, the utility of the token, its distribution, the burn of the token, mechanism of token stimulation. The mechanism and working principles of Proof-of-Stake and its differences from Proof of Work, which consists, first of all, of reducing computing costs, are revealed. It is stated in the work that in the coming years, the development of the potential of this algorithm and the growth of the level of popularity of cryptocurrency mining based on it is expected.

Item Type:	Article
Uncontrolled Keywords:	Blockchain; cryptocurrencies; tokens; tokenomics; Proof of Stake
Subjects:	Статті у базах даних > Scopus
Divisions:	Факультет інформаційних технологій та математики > Кафедра інформаційної та кібернетичної безпеки ім. професора Володимира Бурячка
Depositing User:	Павло Миколайович Складанний
Date Deposited:	08 May 2024 07:44
Last Modified:	08 May 2024 07:44
URI:	https://elibrary.kubg.edu.ua/id/eprint/48729

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