Digital and cryptocurrencies in the future economy

Abstract

This study examines the evolution of blockchain technology, from Bitcoin to Ethereum, highlighting their role in shaping a decentralized economy. Blockchain, as the foundation of the "internet of value," transforms asset management through cryptographic immutability, smart contracts, and tokenization. The paper systematizes key consensus algorithms (PoW, PoS, PBFT, etc.), their advantages, limitations, and the potential of hybrid models. Special attention is given to the digital yuan (DCEP), the first CBDC combining centralized control with innovations (offline payments, programmability). Despite technological advancements, challenges persist: regulatory uncertainty, energy-intensive mining, and the conflict between decentralization and governance. The research emphasizes the need to balance innovation, security, and international regulatory harmonization for the sustainable development of the digital economy.