BLOCKCHAIN TECHNOLOGY: MECHANISM, HISTORY OF CREATION И ANALYSIS OF CRYPTOCURRENCY MARKET
The relevance of this research article lies in the unprecedented rise of interest in the cryptocurrency markets. Due to the vulnerability of fiat monetary system, cryptocurrency is a more perfect alternative to the national currency. Thanks to blockchain technology, a revolutionary transition to the next form of money - cryptocurrency is quite possible. The goal of this article is to study the prerequisites for the creation of a blockchain, to make a historical overview of bitcoin creation, and to provide an analysis of the current situation in the cryptocurrency market. The methods include a historical review of the literature on the creation of blockchain technology, as well as a retrospective, comparative and economic analysis of statistics on the cryptocurrency market. The research results show that blockchain technology has a number of advantages, such as proof of work and irreversibility of the entered transactions, thanks to which the main problem of digital money - double spending is solved, thereby making it unnecessary to have a central regulatory body. These advantages explain the growing popularity of blockchain solutions that can be applied in many spheres of life - ranging from financial management, registration of tangible and intangible assets to the security of value chain.