Blockchain Technology: Essence, Classification and Description of Basic Sectors
DOI:
https://doi.org/10.58423/2786-6742/2024-7-172-191Keywords:
blockchain technologies, decentralized applications, cryptocurrency, smart contract, digital currency, digital technologiesAbstract
The article examines the content and main elements of blockchain technology as a modern innovative decentralized system, which is actively implemented globally in the daily activities of authorities, all sectors of economy, the financial and credit sphere, and even individuals. Over the past decade, the blockchain technology has has experienced significant development both at the international and national level. Effective algorithms of this technology not only significantly speed up and optimize existing processes in the field of economy and finance, but can also become a factor of fundamental transformations in global and national financial systems. The aim of the research is to clarify the essence of the blockchain, the description and interaction of its main elements (block, transaction, node, consensus algorithm and its types, hash functions, cryptographic signatures). The main directions of the development of blockchain technologies are studied and a detailed classification, which compiles all the known today components of this technology, is proposed. The content and components of such complex fields of blockchain technologies as cryptocurrencies (in particular, coins, tokens, stablecoins and digital currencies of central banks) and the system of decentralized applications, which is developing extremely dynamically today (in particular, the sectors of artificial intelligence (AI), decentralized information storage , Internet of Things (IoT), Metaverse (Metaverse), Real World Tokenized Assets (RWA), Decentralized Identity (DID), Gaming Platforms (GameFi), Decentralized Physical Infrastructure Networks (DePIN)). A conclusion was made about the prospects of further integration of blockchain technologies into various financial procedures at the national and international level, as well as the importance of forecasting the potential consequences of these processes.
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