SOME ASPECTS OF THE OF THE MODERN ECONOMY DEVELOPMENT FROM THE POINT OF VIEW OF EVOLUTIONARY MECHANISMS OF CONSENSUS MECHANISM IN BLOCKCHAIN ECOSYSTEMS
DOI:
https://doi.org/10.31891/mdes/2024-13-26Keywords:
digital economy, internet-economy, WEB 3.0, decentralized economy, blockchain, network consensus, Proof of Wor, Proof of StakeAbstract
The article analyzes the impact of web technology concepts on the global economy, specifically the transition from Web 1.0 to Web 3.0. The authors examine how changes in the structure and functionality of the Internet shape new business models, facilitate access to information, and create opportunities for a decentralized economy. Special attention is given to mechanisms for achieving network consensus, such as Proof of Work, Proof of Stake, and other consensus algorithms that ensure the reliability and security of transactions in distributed systems. The article also discusses the influence of e-commerce, social media, dynamic platforms, and blockchain technologies on innovation and new forms of collaboration. Additionally, challenges related to cybersecurity, data privacy, and regulatory aspects that businesses face in the new digital era are addressed. The conclusions emphasize the importance of companies adapting to new web concepts to maintain competitiveness and ensure sustainable economic development.
It is safe to say that in the dynamic realm of the digital economy and blockchain, consensus mechanisms are the cornerstone of decentralized trust and consent. The importance of consensus mechanisms goes beyond purely technical features — they embody the principles of decentralization, transparency, and security that define the revolution in digital relationships and the reduction of transaction costs. As blockchain networks continue to evolve, the choice of consensus mechanism becomes a key decision that shapes the characteristics and functions of the entire ecosystem. The constant search for innovation and optimization in consensus mechanisms reflects the adaptability of the digital economy to the various use cases of the challenges facing the global economy. Therefore, it can be stated that the development of consensus mechanisms will influence the global economic model more than traditional technological systems.