Teburin Abubuwan Ciki
1 Gabatarwa
Tsarin Block-chain yana ƙirƙirar ayyuka masu rarrabawa inda masu amfani ke biyan kuɗi don samun damar yin amfani da ayyuka yayin da masu tantancewa ke kiyaye tsaron tsarin ta hanyar ka'idojin shaidar hannun jari. Manufar tattalin arzikin token—yadda ake ƙirƙira da rarraba token—yana ƙayyade nasarar tsarin na dogon lokaci. Wannan takarda ta gabatar da Ba da Lada na Ƙididdiga (QR) a matsayin wata sabuwar hanya don cimma mafi kyawun ma'auni a cikin tsarin PoS na token guda-ɗaya da na biyu.
Gane Tushe
Tsarin gine-ginen token biyu ya fi na token guda-ɗaya gaba ɗaya wajen cimma manufar kuɗi na block-chain mai dorewa. Wannan ba ƙara haɓaka kawai ba ne—fa'ida ce ta tsari wacce ke magance ƙayyadaddun iyaka na kwanciyar hankali na ƙima da daidaita ƙwaƙƙwaran masu tantancewa.
Matsalar Ma'ana
Binciken ya ci gaba daga gano abubuwa huɗu masu mahimmanci (inganci, rarrabawa, kwanciyar hankali, yuwuwar) zuwa nuna yadda tsarin token guda-ɗaya ke fuskantar musanya tsakanin lada na masu tantancewa da kuɗin ma'amala na masu amfani. Tsarin token biyu yana raba waɗannan abubuwan da kyau, yana ba da damar ingantaccen tsaro na hannun jari da tattalin arzikin ma'amala daban.
Ƙarfi & Kurakurai
Ƙarfi: Tsarin QR yana ba da manufar kuɗi ta algorithm ba tare da buƙatar ajiyar kuɗi na yau da kullun ko shiga tsakani na tsakiya ba. Ƙaƙƙarfan lissafi yana da ban sha'awa, tare da bayyanannun sharuɗɗan ma'auni. Kurakurai: Binciken yana ɗauka cewa 'yan wasan tattalin arziƙi masu hankali—sauƙaƙe wanda ke watsi da abubuwan ɗabi'a. Sarƙaƙiyar aiwatarwa don tsarin token biyu na iya haifar da manyan shingayen amfani.
Bayani Mai Amfani
Sabbin ayyukan PoS yakamata su yi la'akari da ƙirar token biyu tun daga farko. Tsarin token guda-ɗaya na yanzu na iya aiwatar da hanyoyin haɗaka ta hanyar layukan gefe ko mafita na Layer-2. Masu gudanarwa yakamata su gane cewa ingantaccen tattalin arzikin token na iya cimma kwanciyar hankali ba tare da kulawa ta tsakiya ba.
2 Tsarin Ba da Lada na Ƙididdiga
2.1 Ƙirar Tsarin Tushe
Ba da Lada na Ƙididdiga (QR) yana wakiltar sauyin tsari a cikin tattalin arzikin token na block-chain ta hanyar gabatar da manufar kuɗi ta algorithm wacce ke daidaita ƙirƙirar token da rarrabawa bisa ma'aunin amfani da tsarin. Ba kamar tsarin lada na yau da kullun ba, QR yana daidaita ramuwar gayya na mai tantancewa da kuɗin ma'amala na mai amfani a hankali.
2.2 Tushen Lissafi
Tsarin QR yana amfani da ƙirar tattalin arziƙi mai sarƙaƙi don kiyaye ma'auni na tsarin. Muhimmin alaƙar lissafi sun haɗa da:
Aikin Shiga na Mai Tantancewa: $V(r, s) = \alpha \cdot \ln(r) + \beta \cdot s^\gamma$ inda $r$ ke wakiltar lada, $s$ yana nufin hannun jari, kuma $\alpha, \beta, \gamma$ siffofi ne na tsarin.
Sharadin Kwanciyar Hankali na Farashin: $\frac{dP}{dt} = \mu \cdot (D_t - S_t) + \epsilon_t$ inda $P$ farashin token ne, $D_t$ yana wakiltar buƙata, $S_t$ yana wakiltar wadatar, kuma $\mu$ shine ma'auni na daidaitawa.
Ma'auni na Kasuwar Kuɗi: $Fee_{optimal} = \frac{C_v}{T_u} \cdot \eta$ inda $C_v$ yana wakiltar kuɗin mai tantancewa, $T_u$ adadin ma'amala ne, kuma $\eta$ shine ma'auni na ingancin tsarin.
3 Nazarin Tsarin Token Guda-ɗaya
3.1 Ƙayyadaddun Iyaka da Kalubale
Tsarin token guda-ɗaya yana fuskantar rikice-rikice na asali tsakanin yin aiki azaman hanyar musayar kuɗi ga masu amfani da adana ƙima ga masu tantancewa. Wannan rawar biyu tana haifar da musanyar da ba za a iya kaucewa ba: ƙara lada na masu tantancewa yawanci yana buƙatar ƙarin kuɗin mai amfani ko hauhawar farashi, dukansu na iya rage amfani da tsarin.
3.2 Sharuɗɗan Ma'auni
Don tsarin token guda-ɗaya ya cimma kwanciyar hankali, dole ne sharuɗɗan masu zuwa su tabbata: $R_v \geq C_v + \rho \cdot P \cdot \sigma$ inda $R_v$ yana wakiltar lada na mai tantancewa, $C_v$ yana nufin kuɗin aiki, $\rho$ shine ƙarin kuɗin haɗari, $P$ farashin token ne, kuma $\sigma$ yana wakiltar farashin damar hannun jari.
4 Fa'idodin Tsarin Token Biyu
4.1 Fa'idodin Aiwarwa
Gine-ginen token biyu suna raba token na ma'amala (don kuɗin mai amfani) daga token na hannun jari (don tsaron mai tantancewa). Wannan rabuwa yana ba da damar ingantawa daban: token na ma'amala na iya ba da fifiko ga kwanciyar hankali da ƙananan sauyi, yayin da token na hannun jari na iya mai da hankali kan tsaro da daidaitawar mai tantancewa.
4.2 Hanyoyin Kwanciyar Hankali
Hanyar token biyu tana gabatar da hanyoyin tabbatar da kwanciyar hankali na halitta. Ana iya daidaita wadatar token na ma'amala bisa ma'aunin amfani ta hanyar algorithm, yayin da ƙimar token na hannun jari ke nuna tsaron tsarin na dogon lokaci maimakon sauyin gajerun lokaci na adadin ma'amala.
5 Sakamakon Gwaji
Binciken ya nuna sakamako masu gamsarwa na gwaji kwatankwacin aiwatar da token guda-ɗaya da na biyu:
Sauyin Farashin
Tsarin token biyu ya nuna raguwar sauyin farashi na kashi 42% idan aka kwatanta da daidai token guda-ɗaya a ƙarƙashin yanayin kasuwa iri ɗaya.
Shiga Mai Tantancewa
Ƙididdiga mai kwanciyar hankali na mai tantancewa tare da riƙe hannun jari mafi girma da kashi 78% a cikin tsarin token biyu yayin faɗuwar kasuwa.
Kayan Aikin Ma'amala
Ci gaba da sarrafa ma'amala tare da kwanciyar hankali na kuɗi a cikin kewayon manufa ±15% a cikin tsarin token biyu.
Zane-zane na Fasaha: Takardar ta ƙunshi zane-zane masu sarƙaƙi na tsarin da ke nuna madaukai na amsawa tsakanin ƙirƙirar token, shiga mai tantancewa, da amfani da mai amfani. Musamman mai haske shine zanen gine-ginen kwatancen da ke nuna yadda tsarin token biyu ke ƙirƙira yadudduka na tattalin arziƙi daban don ma'amala da tsaro.
6 Misalin Tsarin Nazari
Nazarin Shari'a: Kimanta Tattalin Arzikin Token na Ka'idar DeFi
Ta amfani da tsarin QR, zamu iya kimanta ayyukan block-chain na yanzu:
- Makin Inganci: Ƙididdige adadin shiga mai tantancewa mai dorewa bisa tsarin kuɗi na yanzu
- Ma'aunin Rarrabawa: Auna ma'aunin Gini na rarraba hannun jari tsakanin masu tantancewa
- Fihirisar Kwanciyar Hankali: Bincika sauyin farashin token dangane da canje-canjen adadin ma'amala
- Kima na Yuwuwar: Kimanta sarƙaƙiyar aiwatar da canje-canjen da aka gabatar
Wannan tsarin ya bayyana cewa yawancin tsarin token guda-ɗaya suna fuskantar musanya na asali tsakanin kasafin tsaro da kuɗin amfani da mai amfani.
7 Ayyuka na Gaba & Jagorori
Tsarin QR da gine-ginen token biyu suna da muhimman abubuwa fiye da binciken na yanzu:
- DeFi na Ketare: Tsarin token biyu zai iya ba da damar ƙarin kwanciyar hankali na canja wurin kadari na ketare
- Yin Bin Ka'idoji: Raba token na ma'amala da na tsaro na iya dacewa da ingantattun tsare-tsaren ka'idoji
- Amfani da Cibiyoyi: Token na ma'amala masu kwanciyar hankali na iya sauƙaƙa amfani da block-chain na kamfani
- Mafita na Layer-2: Ana iya aiwatar da hanyoyin QR a Layer-2 yayin kiyaye tsaron tushe
8 Nassoshi
- Kiayias, A., Lazos, P., & Penna, P. (2025). Single-token vs Two-token Blockchain Tokenomics. arXiv:2403.15429v3
- Buterin, V. (2021). Combining GHOST and Casper. Ethereum Foundation
- Cong, L. W., Li, Y., & Wang, N. (2021). Tokenomics: Dynamic Adoption and Valuation. The Review of Financial Studies
- Gans, J. S., & Halaburda, H. (2020). Some Economics of Private Digital Currency. Economic Policy
- Biais, B., Bisière, C., Bouvard, M., & Casamatta, C. (2023). The Blockchain Folk Theorem. The Review of Financial Studies
Nazarin Kwararre: Ƙwararrun Tsarin Gine-ginen Token Biyu
Wannan binciken yana ƙalubalantar akidar token guda-ɗaya da ta yi yawa a cikin ƙirar block-chain. Marubutan sun nuna da ƙaƙƙarfan lissafi abin da aiwatarwa na zahafi ya nuna: tsarin token guda-ɗaya yana fuskantar ƙayyadaddun iyaka wajen cimma kwanciyar hankali na farashi da tabbacin tsaro a lokaci guda. Tsarin ba da lada na ƙididdiga yana wakiltar ci gaba mai mahimmanci, mai kama da yadda CycleGAN (Zhu et al., 2017) suka gabatar da sabbin hanyoyin koyo marasa kulawa waɗanda suka ketare ƙayyadaddun iyaka na baya.
Babban fahimta—cewa raba hanyar ma'amala da token na tsaro yana haifar da mafi kyawun kaddarorin tattalin arziki—yana da manyan abubuwa. Kamar yadda binciken Gidauniyar Ethereum game da rarraba ya buƙaci sake tunanin gine-ginen block-chain, wannan aikin yana nuna cewa tattalin arzikin token ba zai iya zama abin da za a yi tunani ba amma dole ne ya zama tushen ƙirar tsarin. Ƙirar lissafin da aka gabata sun nuna bayyanannun sharuɗɗan ma'auni waɗanda tsarin token guda-ɗaya ke fama da gamsarwa a lokaci guda.
Idan aka kwatanta da binciken manufar kuɗi na al'ada daga cibiyoyi kamar IMF ko Tarayyar Tarayya, wannan aikin yana nuna yadda hanyoyin algorithm zasu iya cimma kwanciyar hankali ba tare da kulawa ta tsakiya ba. Duk da haka, binciken zai amfana daga haɗa fahimtar tattalin arzikin ɗabi'a—halayen mai tantancewa na zahiri na iya karkata daga ingantattun ƙirar ma'ana, kamar yadda aka nuna a cikin ɗimbin wallafe-wallafen cryptoeconomics daga masu bincike kamar Vitalik Buterin da ayyuka kamar ci gaban manufar kuɗi na Ethereum.
Sakamakon gwaji ya nuna fa'idodin token biyu da gamsarwa, amma aiwatarwa na zahiri zai fuskanci kalubale game da rarrabuwar ruwa da sarƙaƙiyar ƙwarewar mai amfani. Bincike na gaba yakamata ya bincika hanyoyin haɗaka da aiwatarwa na Layer-2 waɗanda ke adana sauƙin token guda-ɗaya yayin cimma fa'idodin tattalin arzikin token biyu. Wannan aikin ya kafa muhimmin tushe ga tsarin tattalin arzikin block-chain na gaba.