CLASSIFICATION CHARACTERISTICS AND TYPES OF CRYPTOCURRENCY IN THE WORLD ECONOMY

Abstract

Annotation. The article is aimed at the study of cryptocurrency systems and methods of their classification by various properties and characteristics. Despite the active study of cryptocurrency systems by modern scholars, there is still no general consensus on the categorization of classifications. The result of this ambiguity is a general lack of practical understanding of the various forms of cryptocurrency at both the consumer and government levels around the world. The consequence of the article is the division of the whole set of cryptocurrencies to correct this ambiguity. The author has developed a generalized classification of cryptocurrencies, which is designed to fill certain gaps in the study of cryptocurrencies. The most important classification features are revealed and the table of classification of cryptocurrency systems is made, where cryptocurrencies are divided into types and subspecies. The purpose of the article is to develop a detailed classification of cryptocurrencies based on the systematization of existing knowledge about cryptocurrency systems. Nowadays, there are more than 2,000 cryptocurrency systems in the world. And the rapid development of these systems in recent years has forced many not only scientists but also ordinary people to study this area in more detail. Cryptocurrency is the evolution of financial technologies and cryptographic methods. The emergence of the first cryptocurrency - bitcoin led to the creation of new cryptocurrencies, which necessitated their systematization. Cryptocurrencies should be divided into groups according to their features and characteristics in the following categories: purpose, issue size, viability, originality, centralization, availability of innovations, method of rotation, legal status, type of creation, method of production, generation algorithm, encryption method, speed, scope application, degree of dependence, security, volume of capitalization, market value. The algorithms for generating cryptocurrency systems, in particular Proof-of-Work and Proof of share, are considered. The analysis shows the diversity and versatility of cryptocurrency systems. Key words: cryptocurrency, classification, virtual assets, bitcoin, mining, fork.