Cryptoeconomics and Tokenomics as Economics: A Survey with Opinions

TL;DR

This survey reviews cryptoeconomics and tokenomics, highlighting their potential integration and the need to bridge blockchain practices with economic theory through a comprehensive literature review and case analysis.

Contribution

It provides the first systematic overview of cryptoeconomics and tokenomics, emphasizing their integration and connection to economic principles.

Findings

Cryptoeconomics and tokenomics are still ill-defined and disconnected from economics.

Integration of these fields requires considering strategic behavior and security issues.

The survey bridges economics and blockchain through a comprehensive review.

Abstract

This paper surveys products and studies on cryptoeconomics and tokenomics from an economic perspective, as these terms are still (i) ill-defined and (ii) disconnected from economic disciplines. We first suggest that they can be novel when integrated; we then conduct a literature review and case study following consensus-building for decentralization and token value for autonomy. Integration requires simultaneous consideration of strategic behavior, spamming, Sybil attacks, free-riding, marginal cost, marginal utility and stabilizers. This survey is the first systematization of knowledge on cryptoeconomics and tokenomics, aiming to bridge the contexts of economics and blockchain.