Cryptocurrency blockchain technology is attracting worldwide attention, and the number of initial coin offerings (ICOs) is increasing rapidly. This new economic trend, called cryptoeconomics, can program human behavior through incentive design. A cryptocurrency-based incentive system is not only transparent, but also allows businesses to substitute initial investment costs with cryptocurrency tokens until they are on a sustainable growth trajectory in terms of network effects. This study aims to propose a process for building a desirable model of a token economy, based on the case of Steemit—a blogging and social networking website that is creating high values due to its efficient token economy model. We suggest the following design process of a token economy model: (1) Determine token-business fit, (2) determine the chance of success, (3) determine the properties of token, (4) give tokens intrinsic value, (5) establish strategies to raise token value, (6) establish operational strategies of token economy system, (7) establish strategies for token liquidation, and (8) continue modifying the operational base. Considering cryptoeconomics is still at an early stage, it is expected that the guidelines on the token economy model suggested in this paper will lay a significant foundation for the development of cryptoeconomics research.

Blockchain consensus mechanisms play a critical role in ensuring the security, decentralization, and integrity of distributed networks. As blockchain technology expands beyond cryptocurrencies into broader applications such as supply chain management and healthcare, the importance of efficient and scalable consensus algorithms has grown significantly. This study provides a comprehensive bibliometric analysis of blockchain and consensus mechanism research from 2014 to 2024, using tools such as VOSviewer and R’s Bibliometrix package. The analysis traces the evolution from foundational mechanisms like Proof of ork (PoW) to more advanced models such as Proof of Stake (PoS) and Byzantine Fault Tolerance (BFT), with particular emphasis on Ethereum’s “The Merge” in 2022, which marked the historic shift from PoW to PoS. Key findings highlight emerging themes, including scalability, security, and the integration of blockchain with state-of-the-art technologies like artificial intelligence (AI), the Internet of Things (IoT), and energy trading. The study also identifies influential authors, institutions, and countries, emphasizing the collaborative and interdisciplinary nature of blockchain research. Through thematic analysis, this review uncovers the challenges and opportunities in decentralized systems, underscoring the need for continued innovation in consensus mechanisms to address efficiency, sustainability, scalability, and privacy concerns. These insights offer a valuable foundation for future research aimed at advancing blockchain technology across various industries.

This study investigates the impact of consensus mechanism changes on cryptocurrency markets within the framework of the efficient market hypothesis, focusing on Ethereum’s transition from Proof-of-Work to Proof-of-Stake consensus, known as the Ethereum 2.0 ‘The Merge’ update. Two main hypotheses guide the enquiry: (i) ‘The Merge’ update will significantly enhance market efficiency and (ii) Ethereum’s updates will have a greater impact on market efficiency compared to other cryptocurrencies. Using the Hurst exponent’s R/S statistic, changes in Ethereum’s long-term memory characteristics before and after major hard forks are quantified. The analysis reveals substantial improvements in Ethereum’s market efficiency following the Ethereum 2.0 hard fork, attributed to the introduction of Proof-of-Stake, which enhanced transaction speed and built trust. These findings suggest a positive trajectory towards improved efficiency in Ethereum’s market, particularly with ‘The Merge’ update. In conclusion, this study contributes to understanding the role of consensus mechanisms in cryptocurrencies and provides insights into future market trends resulting from such changes.

This exploratory proof-of-concept study investigated the simultaneous deployment of autonomous, persona-driven Artificial Intelligence (AI) agents across multiple social media platforms using the ElizaOS framework. We developed three platform-specific agents with seven-layer character architectures and deployed them on Twitter/X, Discord, and Telegram for 18 days. The system processed 5389 interactions while gathering feedback from 28 volunteer participants. Addressing three research questions, we found that: (1) automation effectiveness was platform-dependent, with direct support platforms (Telegram, Discord) rated more useful than broadcast-oriented Twitter/X; (2) character design impact depended primarily on platform-persona alignment rather than architectural sophistication; and (3) technical performance showed platform-specific patterns, with median storage times ranging from 9.0 milliseconds (Twitter/X) to 61.5 milliseconds (Telegram) and high variability across all platforms. A notable finding was what we term the “Discord Paradox”—high quality ratings (4.05/5) but lowest preference (8.7%), suggesting platform familiarity and accessibility influence adoption more than agent quality. While the deployment demonstrated technical feasibility and revealed distinct user dynamics across platforms, the findings indicate that platform-specific optimization may be more effective than universal approaches. This exploratory study advances understanding of multi-platform agent deployment for marketing automation, identifying behavioral patterns and platform-specific dynamics that offer testable hypotheses for future systematic research.