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Bankarstvo
2019, vol. 48, br. 1, str. 46-63
jezik rada: srpski, engleski
vrsta rada: pregledni članak
doi:10.5937/bankarstvo1901046T

Creative Commons License 4.0
Neodrživost koncepta kriptovaluta baziranih na Proof-of-work algoritmu
Univerzitet u Kragujevcu, Ekonomski fakultet

e-adresa: v.todorovic@kg.ac.rs, ntomic@kg.ac.rs

Sažetak

Uspeh različitih sistema kriptovaluta uslovio je veliko interesovanje za njihovo funkcionisanje. Kretanje njihovih vrednosti je veoma nepredvidivo, pa su se periodi rasta često naglo prekidali stagnacijom ili izraženim padom. i pored toga, poslednjih godina se veliki broj investitora uključio u procese rudarenja i trgovine kriptovalutama. Kada se govori o negativnim efektima koje kriptovalute stvaraju, u fokusu su različiti oblici sajber kriminala. Broj hakerskih napada upotrebom softvera za ucenjivanje-tzv. ransomvera se povećava. Po pravilu, u ovakvim slučajevima se koriste kriptovalute kao sredstvo plaćanja otkupa. Međutim, energetska efikasnost određenih klasa kriptovaluta je nešto ređa tema. Rudarenje po Proof-of-work algoritmu (PoW) je energetski intenzivan i izuzetno skup proces, koji nakon ekonomske analize ne deluje isplativo kako se u prvi mah činilo. Trgovanje kriptovalutama može da donese velike prinose investitorima, ali i velike gubitke, jer u suštini predstavlja igru sa nultom sumom. Nagli rast broja rudara doneo je poremećaj na tržištu računarskih komponenata, izazvavši rast cena i čak potpuni nestanak određenih modela grafičkih kartica. Sve navedeno ukazuje da je njihovo funkcionisanje donelo brojne negativne manifestacije i poremećaje. Predmet rada je ekonomski aspekt kriptovaluta zasnovanih na PoW algoritmu. Cilj rada je ukazivanje na neodrživost njihovog aktuelnog koncepta, usled visokih troškova koji se stvaraju direktno učesnicima u procesu rudarenja i indirektno na tržištu računarskih komponenata.

Ključne reči

kriptovalute; PoW algoritam; Bitcoin; rudarenje; tržišni poremećaji; potrošnja energije; neodrživost modela

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