Bitcoin: Genesis, Practice and Development Prospects. PART 2.

Authors

  • Vladimir Petrovich BAUER the Institute for Economic Policy and Economic Security Problems, Financial University under the Government of the Russian Federation
  • Vladimir Vassilievich SMIRNOV Institute for Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Keywords:

traditions, progress, hedge funds, US dollars, Bitcoin, blockchain, cryptocurrency, cryptoplatform, fraud, digital economy, quantitative theory of money.

Abstract

The article briefly explores the features of centralization and decentralization of Bitcoin blockchain functions and the resulting monopoly factors on the modern cryptocoins market based on the example of digital financial assets in the form of cryptocoins, which are functioning and being circulated according to the Proof-of-Work consensus rule. Approaches to determining the Bitcoin price and problems of functioning of the blockchain Bitcoin network are discussed using the quantitative theory of money. Some approaches to finding solution of these problems are provided. It is demonstrated that this cryptocurrency network can be developed by both creating cryptoplatforms with an independent consensus and using cryptoplatforms that form common mining with them.

About authors

Vladimir Petrovich BAUER

the Institute for Economic Policy and Economic Security Problems, Financial University under the Government of the Russian Federation

Doctor of Economics, Associate Professor, Director of Center for Strategic Forecasting and Planning at the Institute for Economic Policy and Economic Security Problems, Financial University under the Government of the Russian Federation

Vladimir Vassilievich SMIRNOV

Institute for Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

 

Junior Researcher, Center for Strategic Forecasting and Planning, Institute for Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Информационное общество, 2019 выпуски 1-2

Published

23.01.2020

How to Cite

BAUER , V. P., & SMIRNOV , V. V. (2020). Bitcoin: Genesis, Practice and Development Prospects. PART 2. Information Society, (1-2), 35-43. Retrieved from http://infosoc.iis.ru/article/view/136

Issue

No. 1-2 (2019): The lack of alternatives to digital transformation

Section

The digital economy