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PRIVATE MONEY AND CRYPTO ECONOMICS
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Author(s):
RAGINI KUKKAR
Vol - 8, Issue- 7 ,
Page(s) : 234 - 237
(2017 )
DOI : https://doi.org/10.32804/CASIRJ
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Abstract
Crypto economics refers to the construction of systems and protocols that leverage economic incentives to allow for organization and usage of resources towards the fulfillment of some goal or objective in the absence of any centralized organization. This is due to the selfish motives of individual actors, all acting in their own self interest, all aligning towards the fulfillment of the larger goal, the system was made to achieve (under the assumption that the system or protocol is perfectly engineered in a way that the monetization of economic incentive directly leads to progress on fulfillment of the goal).One example that immediately comes to mind is that of crypto currencies like Bit coin , Ethereum etc
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