Abstract
The paper focuses on the analysis of the cryptocurrency open innovation market to predict sustainable growth in the future. The nature of cryptocurrencies ‘development leads to the rapid increase in their popularity and spread of trading at this new market. The high volatility of these assets is encouraging to understand and predict their price in ever changing market environment. The paper proposed the pool complexity approach to choose optimal technology using social activity in the internet, trading parameters, technical indicators and other cryptocurrency data. According to the results of the analysis, the most effective and promising cryptocurrency is EOS cryptocurrency, which has the lowest complexity and commission level among the analyzed digital currencies and allows you to implement third-party applications in the system.
Highlights
The period from the 20th until the early 21st century has been characterized by intensive development of the global financial sector
It can be concluded that the cryptocurrency market is constantly sustainable, developing both technical and technological aspects of its systems
The competition in the digital currency market is segmented and only market currencies designed for use outside the framework of one system can compete
Summary
The period from the 20th until the early 21st century has been characterized by intensive development of the global financial sector. Financial systems are actively developing, transforming, and adjusting to certain economic and technological requirements, creating an environment for the effective functioning of commodity-money and financial relations, as they are the circulatory system of world economies. The main catalysts for financial open innovations have recently been actively developing processes of globalization and digitalization of world economies. In such conditions, increased regulatory requirements are imposed on payment systems and tools since risks are shared between world economies [1,2]. This study fills the gap in the analysis of the prospects and risks of developing cryptocurrency as an element of the financial system. The paper creates a theoretical base for crypto market prices prediction
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