IOTA: The Protocol for Machines in an Age of Things

The warehouse in Hamburg is silent except for the soft whir of autonomous drones. One, its sensors blinking, completes an inventory scan of a pallet of microchips. It doesn't return to a central server. Instead, it transmits a cryptographically sealed data packet—proof of condition, location, and time—directly to a logistics drone across the facility. A fraction of a second later, without human intervention or a centralized ledger, value is exchanged. The data has been purchased, the transaction verified, and the ledger updated. The drones, two nodes in a vast, silent economy, have just conducted business. This is the machine economy. This is the world IOTA is building.

Forget everything you think you know about blockchain. The technology that powered Bitcoin and later Ethereum operates on a fundamental premise of sequential blocks, miners, and fees. IOTA, launched in 2015 by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov, rejected that premise outright. Its founders saw a future not of people trading digital assets, but of machines trading data and value at a scale and speed impossible for legacy systems. Their invention was the Tangle, and it turned distributed ledger architecture on its head.

The Tangle: A Structural Revolution

Imagine a sprawling, ever-growing web instead of a neat chain of blocks. That's the Tangle, a Directed Acyclic Graph (DAG). In a blockchain, new transactions wait to be bundled into a block by a miner, who is then rewarded. This creates bottlenecks, fees, and energy-intensive competition. The Tangle eliminates the block, the miner, and the fee. Here, to send a transaction, you must approve two previous ones. Validation is a mandatory act of participation, not a specialized service. The network's security and speed don't come from concentrated mining power but from the sheer volume of activity. More transactions mean more validators, which means faster confirmations and greater resilience.

According to a Deloitte Switzerland analysis, "The Tangle’s structure allows for parallel processing of transactions, which theoretically enables high scalability and feeless microtransactions—key requirements for machine-to-machine communication in IoT ecosystems."

The implications are profound. A sensor measuring soil moisture can sell its data for a fraction of a cent. An electric vehicle can pay an autonomous charging post per millisecond of energy draw. A shipping container can log its temperature and location at every port, creating an immutable, automated audit trail. These are not speculative use cases. They are the operational targets for a ledger designed from the atom up for the Internet of Things.

The Core Proposition: Feeless, Scalable, Machine-Ready

IOTA's native cryptocurrency is MIOTA. Its total supply is fixed at a precise 4.75 billion tokens, with approximately 4.14 billion in circulation as of November 2025. But unlike Ethereum's ETH, which is consumed as "gas" to power transactions, MIOTA exists primarily as a value-transfer layer. The data layer itself is feeless. This distinction is critical. It means machines can transmit and verify data—the lifeblood of IoT—without any transactional cost barrier, enabling true micro- and nano-transactions.

For years, IOTA operated as a permissioned network with a central "Coordinator" node for security, a point of significant criticism. The project's roadmap has been a long, hard slog toward removing that crutch. The goal was always IOTA 2.0: a fully decentralized, coordinator-less network. That journey reached its most critical juncture in the second quarter of 2025 with the launch of the "Rebased Mainnet." This wasn't just an upgrade; it was a transformation. The Rebased Protocol rebuilt IOTA as a high-performance Layer 1 blockchain, integrating a robust consensus mechanism to finally achieve the decentralization its philosophy demanded.

"The Rebased Mainnet launch in Q2 2025 marks the final architectural shift," noted a foundational council member in the project's official progress report. "We have transitioned from a unique DAG to a powerful, modular Layer 1 that retains our core advantages while achieving the security and decentralization required for global trust."

The performance claims are staggering. Theoretical throughput can reach 65,000 transactions per second (TPS). Real-world, sustainable throughput in current configurations is estimated at a still-massive ~4,000 TPS. Compare that to Ethereum's 15-30 TPS or even Solana's theoretical 65,000 amid frequent congestion. For a network built to handle the torrent of data from billions of devices, this scalability isn't a feature; it is the foundational premise.

From Protocol to Platform: The 2025 Inflection Point

The Rebased Mainnet did more than just decentralize. It opened the doors to a new era of programmability. IOTA now supports Ethereum Virtual Machine (EVM) compatibility and is integrating the MoveVM from the Aptos/Sui ecosystem. This means developers familiar with Solidity or Move can deploy smart contracts on IOTA, unlocking decentralized finance (DeFi), advanced automation, and complex logic for machine interactions. Tools like account abstraction and passkeys aim to make user and machine onboarding seamless.

Parallel to this technical metamorphosis, IOTA's real-world footprint expanded in 2025 through a strategic, policy-focused initiative: the Trade Trust and Identity Network (TWIN) Foundation. Established in partnership with major trade entities, TWIN aims to digitize global trade documentation—bills of lading, letters of credit, certificates of origin. In May 2025, the TWIN Foundation signed a Memorandum of Understanding with the Tony Blair Institute for Global Change, signaling a direct push to shape digital trade policy with national governments.

This move from tech labs to ministerial briefings is deliberate. IOTA is no longer just chasing pilots. It is seeking to establish the standard infrastructure for digitized trade and machine identity. Another project, the Trade Logistics Information Pipeline (TLIP), initially developed with the World Bank, is being operationalized in East African corridors, moving from prototype to production in streamlining cross-border trade data.

The narrative is coalescing. On one flank, IOTA 2.0 provides the raw, high-throughput, feeless infrastructure for machines to communicate and transact. On the other, initiatives like TWIN and TLIP are building the first major applications on top of it, targeting multi-trillion-dollar industries ripe for disruption. The theory of the Tangle is finally meeting the practice of global commerce. The question is no longer "Can it work?" but "Will the world adopt it?"

The Anatomy of Trust: From Tangle to Trade Lanes

IOTA’s decade-long journey from conceptual white paper to tangible trade infrastructure is a case study in stubborn, visionary execution. The project reached its ten-year milestone in 2025, and the narrative has definitively shifted from speculative crypto asset to operational backbone. The target is no less than the digitization of global trade, valued at over $33 trillion. This ambition crystallizes in the Trade Worldwide Information Network (TWIN), a flagship initiative that transforms IOTA’s theoretical advantages—feeless data, immutable audit trails—into concrete, cost-saving realities.

"The token isn't a speculative asset. It's the mechanism that makes the infrastructure work," asserts the IOTA Staking blog in a December 2025 analysis of TWIN's on-chain mechanics. "Staking for validator election ties network security directly to real-world utility and resilience."

TWIN’s architecture is deliberately bureaucratic, in the best sense. It replaces the morass of paper that chokes ports and customs houses: bills of lading, letters of credit, certificates of origin. Each document becomes a verifiable credential, anchored to a digital identity for every actor—exporter, importer, freight forwarder, bank, customs agency. A physical shipment is mirrored by a non-fungible token (NFT) on the IOTA Tangle, tracking its journey in real-time. Early deployment data is compelling. TWIN pilots report an 80% reduction in transaction costs, a 96% gain in cross-border efficiency, and a 35% increase in participation from small and medium-sized enterprises. Document delays shrink from weeks to minutes.

These aren’t just metrics for a press release; they are direct attacks on the friction that has defined global commerce for centuries. An AI-powered compliance layer scans documents before a ship ever reaches port, flagging discrepancies. Tokenized warehouse receipts unlock instant DeFi financing for goods in transit, freeing capital. The Hamburg warehouse scenario is no longer a futuristic vignette—it is a module in a vast, interconnected system going live. Pilots are scheduled to launch in over 10 countries across Africa, Europe, Southeast Asia, and North America within the next twelve months, with a target of 30+ by 2030.

The Staking Engine: Decentralization as a Product Feature

This push into regulated, governmental trade required solving IOTA’s original sin: perceived centralization. The “Coordinator” is gone. The new decentralization engine runs on staking. As of December 2025, over 2.3 billion IOTA tokens are staked, electing a network of 70+ active validators who secure the mainnet. The average staking reward sits between 11-12% APY. This mechanic is crucial. It ensures no single entity, not even the IOTA Foundation, controls the ledger validating a $33 trillion flow of goods. Trust is mathematically distributed.

"IOTA positions itself as a DAG-based solution specialized for IoT consensus," states a pivotal 2023 academic survey published by the Association for Computing Machinery on July 13, 2023. This paper has since become a key citation in later research on the AIoT convergence and digital identity, marking a growing vein of academic validation for the Tangle structure.

The technical roadmap in late 2025 focuses on two pivotal upgrades: Starfish, aimed at further horizontal scalability, and Hierarchies, which provide the trust infrastructure enterprises demand—all while maintaining backward compatibility. The price of MIOTA, however, tells a different story, hovering around $0.08689 in December 2025. This disconnect between operational momentum and token valuation is the central tension of IOTA’s current existence. Is the market simply slow to comprehend a fundamentally different value proposition, or is it rightly skeptical of the long adoption arc ahead?

The Penny Crypto Paradox: Niche or Nebulous?

IOTA consistently ranks among “penny cryptos” with high potential—it was listed 8th in a December 2025 roundup for its IoT zero-fee niche. This categorization is both a blessing and a curse. It attracts speculators looking for a lottery ticket, but it undermines the project’s deliberate positioning as infrastructure, not a casino chip. The comparison game is inevitable. Analyses often pit IOTA against Hedera Hashgraph, another DAG-based ledger favored by enterprises.

"IOTA prioritizes feeless machine-to-machine scalability," notes a technical comparison from CoinExams in December 2025, "while Hedera employs a council model and nominal fees. Their core design philosophies target different segments of the enterprise DLT market."

This is a polite way of saying they are solving different problems. Hedera seeks to be a general-purpose enterprise ledger with stable, predictable governance. IOTA is a specialist, a protocol built for a specific, high-volume, low-value transactional environment that doesn’t yet exist at scale. IOTA’s entire value proposition is predicated on the explosive growth of autonomous machine economies. If that growth is linear or slow, IOTA becomes a solution in search of a problem. If it’s exponential, IOTA is positioned at the nexus.

The critical gap in most analyses, including favorable ones, is the lack of head-to-head, real-world benchmarks. We see impressive early TWIN results, but where are the side-by-side throughput, finality, and cost comparisons against Hedera, or against layer-2 rollups on Ethereum, in a live industrial setting? The theoretical 65,000 TPS is a powerful marketing line, but the sustained real-world figure of ~4,000 TPS is what matters. Is that enough for the tsunami of IoT data? Probably, for now. But competitors aren’t standing still.

One contrarian observation cuts to the heart of the matter: IOTA’s most significant achievement in 2025 may not be technical, but political. The MoU with the Tony Blair Institute and the orchestration of TWIN represent a masterclass in policy entrepreneurship. They are building a coalition of governments and trade bodies before the technology is universally stress-tested. This “field of dreams” strategy—if you build the coalition, the usage will come—is high-risk, high-reward. It bypasses the typical crypto adoption funnel entirely, aiming straight for institutional standardization.

"The 2025 Rebased Mainnet transition was conditional on validator readiness, security audits, and exchange integrations," details a report from the UAE Blockchain Organization. "Meeting these conditions was non-negotiable for credibility with the institutional partners TWIN requires."

This institutional push redefines token utility. Staking isn’t just for yield; it’s for voting rights in a network that aspires to underpin sovereign trade digitization. The yield of 11-12% is the incentive to participate in securing what is effectively a public utility. This creates a fascinating dynamic: the token’s value is theoretically tied to the volume and importance of the data and value flowing over the network, not to speculative trading pairs on Binance. But can that theory hold when the vast majority of token holders are still crypto natives, not shipping conglomerates?

A rhetorical question lingers. If a machine-driven transaction occurs on the Tangle but doesn’t involve the speculatively traded MIOTA token, does it count for the market? IOTA’s design deliberately decouples the feeless data layer from the value layer. The immense value is in the integrity and flow of data—the oil of the 21st century. The token secures the network that enables that flow. This is a profoundly different model from Ethereum, where ETH is consumed as fuel. It is more analogous to holding shares in the company that owns the pipeline. The market, however, remains addicted to the simpler narrative of gas fees and burn mechanisms.

The project’s focus is unwavering. While other layer-1 chains frantically court DeFi degens and NFT artists, IOTA’s development updates read like engineering white papers for supply chain managers. Codebase advancements like Starfish and Hierarchies are about enterprise readiness and scalability under load, not launching the next meme coin. This discipline is admirable, but it forsakes the network effects that a vibrant, if frivolous, retail ecosystem can provide. IOTA is building a cathedral in an age obsessed with pop-up shops. The cathedral could outlast them all, or remain a stunning, under-occupied monument.

The Quiet Infrastructure of Everything

IOTA’s significance transcends cryptocurrency price charts. It represents a fundamental philosophical bet about the next phase of the internet: that the most valuable transactions will be invisible, executed between machines, and that the ledger recording them must be as lightweight and ubiquitous as the network itself. While other blockchains compete to become financial supercomputers or digital gold, IOTA aims to become the TCP/IP of value and trust for the Internet of Things—a foundational protocol, not a flashy application. Its legacy, should it succeed, won’t be measured in market cap alone, but in the silent efficiency of global systems. It seeks to remove friction not from trading apes on a screen, but from moving food, medicine, and manufactured goods across the planet.

"The 2023 ACM survey that categorized IOTA's Tangle as a specialized IoT consensus mechanism has been cited in over a dozen subsequent papers on AIoT integration and digital passports," notes a research analyst tracking DLT academic literature. "It's moved from being a curious alternative to a serious architectural proposal in peer-reviewed work."

This academic and institutional traction underscores a deeper impact. IOTA is part of a small group of projects attempting to bridge the chasm between cryptographic innovation and tangible, regulated industry. The TWIN initiative isn’t a dApp; it’s a potential new standard for international trade, developed in concert with policymakers. The choice to use a permissionless, feeless DAG for this is radical. It suggests a future where the trust infrastructure for critical systems is open, transparent, and not owned by any single corporation or government. The cultural impact is subtle but profound: it proposes that the most trustworthy ledger for our physical world might be a decentralized, machine-optimized network.

The Inevitable Friction of the Real World

For all its visionary engineering and political maneuvering, IOTA faces hurdles that are monumental precisely because its ambitions are. The most glaring is the adoption timeline. Pilots in 10+ countries are promising, but production-scale deployment across 30+ by 2030 is a herculean task of integration, legal compliance, and behavioral change. Global trade is a beast of legacy systems and entrenched interests. An 80% cost reduction is a compelling carrot, but the stick of implementation is heavy. The project’s history, marked by technical overhauls like the Rebased Mainnet, while necessary, fuels a narrative of perpetual "soon" that tries the patience of both investors and potential enterprise clients.

Critically, the "feeless" value proposition, while elegant, creates a unique economic ambiguity. Validators are elected by stakers earning 11-12% APY, but this reward is an inflationary mechanism, new tokens minted to secure the network. The long-term sustainability of this model under massive transactional load is unproven. If token value doesn’t appreciably correlate with network usage growth—a distinct possibility if the value is in the data, not the token—the security incentive could weaken. Furthermore, the niche focus is a double-edged sword. It provides clarity but also limits the viral, organic developer growth that has propelled chains like Ethereum and Solana. IOTA’ ecosystem is being built top-down through partnerships, a slower, more deliberate process vulnerable to the inertia of large institutions.

Technical risks remain. While the Tangle’s DAG structure elegantly solves for scalability and feeless transfers, its security under extreme adversarial conditions is less battle-tested than Bitcoin’s proof-of-work or Ethereum’s move to proof-of-stake. The decentralized validator set, though growing, is still modest at 70+ nodes. A successful, high-profile attack on TWIN or a major partner could shatter years of careful trust-building in an instant. The project’s success is contingent not just on its own code, but on the parallel maturation of IoT security standards and hardware—a chain is only as strong as its weakest device.

The market’s persistent valuation of MIOTA as a "penny crypto," despite the scale of its ambitions, highlights a final, harsh truth. The financial markets and the physical infrastructure markets operate on different clocks and different logics. IOTA is playing a long game on a chessboard where most spectators are watching a slot machine.

The forward look for IOTA is etched in a calendar of tangible, unglamorous milestones. The staged rollout of TWIN pilots throughout 2026 will provide the first real-world stress test of the network under diverse regulatory regimes. The technical upgrades of **Starfish** and **Hierarchies** are scheduled for mainnet implementation by Q3 2026, aiming to prove that the protocol can scale vertically and institutionally without breaking backward compatibility. The validator count needs to see a steady climb toward the hundreds to credibly claim decentralization at a global scale. Each quarter from now on must deliver not just code commits, but signed contracts and live, revenue-generating trade flows on the network.

Predictions are folly, but trajectories are visible. IOTA will not "moon" on retail hype. Its value will accrue like interest, slowly and then suddenly, as each major port, each customs union, each automotive supply chain plugs into its Tangle. The silence of the Hamburg warehouse, where machines trade data without friction, is the sound it aims to replicate across the world. The question is whether the world is ready to listen.

In conclusion, IOTA presents a revolutionary protocol enabling secure, feeless machine-to-machine communication and value transfer without centralized ledgers. As the Internet of Things expands, it challenges us to rethink how data and value will flow in an automated world. The question is not if machines will transact autonomously, but which foundation they will build upon.

Как функционируют цифровые кошельки криптовалют

Введение в цифровые кошельки криптовалют

Введение в цифровые кошельки криптовалют

Основные понятия и понятные факты о цифровых кошельках

Как структурированы цифровые кошельки?

Типы кошельков и их особенности

Заключение

Безопасность и риски работы с цифровыми кошельками криптовалют

Основные методы защиты кошельков

Риски работы с цифровыми кошельками

Обнаружение и предотвращение утечек данных

Обнаружение и предотвращение утечек данных

Советы по предотвращению мошенничества и взлома

Криптовалютное регулирование в мире: Глобальный обзор

Введение в крипторегулирование

Криптовалюты за последнее десятилетие превратились из нишевого актива в глобальный финансовый феномен. Их децентрализованная природа, основанная на технологии блокчейн, ставит перед государствами сложные вопросы регулирования. В разных странах подходы к криптовалютам варьируются от полного запрета до создания благоприятных условий для их развития. В этой статье мы рассмотрим текущее состояние регулирования цифровых активов в различных регионах мира.

Северная Америка: два разных подхода

Соединенные Штаты: фрагментированное регулирование

В США отсутствует единый регуляторный подход к криптовалютам. Разные ведомства рассматривают цифровые активы через призму своих полномочий:

• 
  
• SEC (Комиссия по ценным бумагам и биржам) регулирует криптоактивы как ценные бумаги
  
• CFTC (Комиссия по торговле товарными фьючерсами) рассматривает биткоин как товар
  
• FinCEN (Сеть по борьбе с финансовыми преступлениями) отвечает за AML/CFT-политику
  

В 2022 году администрация Байдена выпустила Исполнительный указ о цифровых активах, направленный на разработку комплексного подхода к регулированию крипторынка.

Канада: прогрессивное регулирование

Канада стала одной из первых стран, утвердивших биткоин-ETF. Канадское Управление по ценным бумагам (CSA) рассматривает криптовалюты как ценные бумаги или товары в зависимости от их характеристик. Криптобиржи должны регистрироваться в CSA и соответствовать требованиям по борьбе с отмыванием денег.

Европейский Союз: движение к единому стандарту

ЕС активно работает над созданием единого регуляторного пространства для криптоактивов. Главным достижением стало принятие Регламента MiCA (Markets in Crypto-Assets), который вступит в силу в 2024 году.

Ключевые положения MiCA:

• 
  
• Единые правила для эмитентов криптоактивов
  
• Требования к провайдерам криптоуслуг
  
• Правила защиты потребителей
  
• Меры по предотвращению рыночных манипуляций
  

Азия: от прогрессивных подходов до жестких запретов

Япония: первопроходец регулирования

Япония стала первой страной, признавшей биткоин законным платежным средством еще в 2017 году. Агентство финансовых услуг Японии (FSA) лицензирует криптобиржи и устанавливает строгие требования к их деятельности.

Китай: полный запрет на криптовалюты

В 2021 году Китай ввел полный запрет на все криптовалютные операции, включая майнинг. Власти объясняют это решение рисками для финансовой стабильности и энергопотреблением майнинга.

Сингапур: тщательный отбор участников рынка

Денежно-кредитное управление Сингапура (MAS) проводит жесткую проверку криптокомпаний перед выдачей лицензий. В стране запрещена реклама криптоуслуг для широкой публики, но разрешена институциональная торговля.

Перспективы глобального регулирования

Разные подходы к регулированию крипторынка создают сложности для международных операций с цифровыми активами. Международный валютный фонд (МВФ) и Базельский комитет по банковскому надзору работают над созданием общих стандартов крипторегулирования.

Основные направления международного регулирования включают:

• 
  
• Борьбу с отмыванием денег и финансированием терроризма
  
• Защиту прав потребителей
  
• Налогообложение криптоактивов
  
• Предотвращение использования криптовалют для уклонения от санкций
  

Во второй части статьи мы подробнее рассмотрим регуляторные подходы в странах СНГ, Латинской Америки и Ближнего Востока, а также перспективы развития глобальных стандартов крипторегулирования.

Регулирование криптовалют в странах СНГ и Восточной Европы

Россия: сложный путь к легализации

Российская Федерация долгое время занимала двойственную позицию по отношению к криптовалютам. В 2020 году был принят закон "О цифровых финансовых активах", который впервые дал юридическое определение цифровым валютам. Однако полное регулирование крипторынка до сих пор не сформировано. Центральный банк РФ выступает за жесткие ограничения, в то время как Министерство финансов предлагает более либеральный подход.

В 2022 году ситуация изменилась - криптовалюты получили статус "аналога валюты", но не законного платежного средства. Разрабатывается система регулирования майнинга и налогообложения операций с цифровыми активами. Особое внимание уделяется использованию криптовалют в международных расчетах в условиях санкций.

Беларусь: офшор для криптовалют

Беларусь стала одной из первых стран СНГ, легализовавших криптовалюты. В 2017 году был принят декрет "О развитии цифровой экономики", который до 2023 года предоставлял налоговые льготы для криптовалютных операций. В стране создан специальный Парк высоких технологий, где зарегистрированы многие криптовалютные компании.

С 2023 года в Беларуси вводятся новые правила - операции с криптовалютами будут облагаться налогом, но по сниженной ставке. Государство продолжает поддерживать развитие блокчейн-технологий и криптовалютного бизнеса.

Украина: движение к регулировал

В Украине криптовалюты пока не имеют официального статуса, но активно используются. В 2021 году Верховная Рада приняла закон "О виртуальных активах", который должен создать правовую базу для регулирования крипторынка. Однако документ до сих пор не вступил в силу из-за необходимости доработки.

Национальный банк Украины рассматривает возможность выпуска цифровой гривны (e-hryvnia), а Министерство цифровой трансформации активно продвигает идею легализации криптовалют для привлечения инвестиций в экономику страны.

Латинская Америка: от полного запрета до государственных криптовалют

Сальвадор: биткоин как законное платежное средство

В сентябре 2021 года Сальвадор стал первой страной, признавшей биткоин официальной валютой наравне с долларом США. Правительство разработало собственный криптовалютный кошелек Chivo и выделило 30 долларов каждому гражданину для стимулирования использования биткоина.

Несмотря на технические сложности и критику со стороны международных организаций, эксперимент продолжается. Власти Сальвадора активно инвестируют в биткоин, приобретая его для государственных резервов.

Аргентина: криптовалюта как защита от инфляции

В условиях высокой инфляции и ограничений на покупку долларов аргентинцы активно используют криптовалюу как средство сбережения. Правительство пока не вводит жестких ограничений, но Центральный банк предупреждает о рисках криптовалютных инвестиций.

В 2022 году налоговое управление Аргентины начало требовать декларировать операции с криптовалютами и платить налоги с доходов от них. Разрабатывается система регулирования криптовалютных бирж и кошельков.

Бразилия: постепенная легализация

Бразилия движется к созданию четкой системы регулирования криптовалют. В 2022 году был принят закон, признающий криптовалюты финансовальным активом и устанавливающий правила для криптовалютных операций. Центральный банк Бразилии работает над созданием цифрового реала (CBDC), который должен быть запущен в 2024 году.

Криптовалютные биржи в Бразилии обязаны регистрироваться в государственных органах и соблюдать правила по борьбе с отмыванием денег. Ведется активное обсуждение налогообложения криптовалютных операций.

Ближний Восток и Африка: новые горизонты для криптовалют

ОАЭ: создание криптовалютного хаба

Объединенные Арабские Эмираты активно позиционируют себя как центр криптовалютной индустрии. В Дубае создана специальная зона для криптовалютных компаний с благоприятным налоговым режимом. В 2022 году власти ОАЭ приняли первый федеральный закон о регулировании виртуальных активов.

Особое внимание уделяется безопасности инвесторов и борьбе с финансовыми преступлениями. Криптовалютные компании должны получать лицензию и соблюдать строгие правила ведения бизнеса.

Южная Африка: рост популярности криптовалют

Южная Африка становится одним из лидеров криптовалютного рынка на африканском континенте. В 2022 году финансовые регуляторы страны объявили о планах по регулированию криптовалют как финансовых продуктов. Это позволит защитить инвесторов и создать правовую базу для криптовалютного бизнеса.

Особенностью ЮАР является высокая популярность криптовалют среди населения - по некоторым оценкам, около 10% южноафриканцев владеют цифровыми активами. Власти изучают возможность выпуска цифрового ранда.

Нигерия: запреты и активное использование

Центральный банк Нигерии в 2021 году запретил банкам работать с криптовалютными компаниями, но это не остановило рост популярности цифровых активов. Нигерия занимает одно из первых мест в мире по объему P2P-торговли криптовалютами.

В 2022 году правительство запустило цифровую валюту eNaira, но она пока не получила широкого распространения. Ведется обсуждение создания более гибкой системы регулирования криптовалютного рынка.

В третьей части статьи мы рассмотрим перспективы развития глобального криптовалютного регулирования, включая создание цифровых валют центральных банков (CBDC) и возможные сценарии эволюции крипторынка в ближайшие годы.

Цифровые валюты центральных банков (CBDC): новый этап регуляторной эволюции

Мировой тренд на цифровизацию денег

Более 100 стран мира сегодня находятся на разных стадиях разработки и внедрения цифровых валют центральных банков (CBDC). Этот глобальный тренд существенно меняет ландшафт финансовой системы и создает новые вызовы для регуляторов. По данным Банка международных расчетов (BIS), к 2030 году до 20% мировых денег могут существовать в цифровой форме.

Различают два основных типа CBDC:

• 
  
• Розничные (retail CBDC) - для широкого использования населением
  
• Оптовые (wholesale CBDC) - для межбанковских расчетов
  

Китай: лидер в развитии цифрового юаня

Китайская Народная Республика стала мировым лидером в реализации проекта CBDC. Цифровой юань (e-CNY) уже тестируется в более чем 20 городах страны, общий объем транзакций превысил 100 миллиардов юаней. Особенности китайской модели:

• 
  
• Двухуровневая система распространения через коммерческие банки
  
• Контролируемая анонимность транзакций
  
• Интеграция с популярными платежными системами
  

ЕЦБ: осторожный подход к цифровому евро

Европейский центральный банк проводит масштабные консультации по проекту цифрового евро. Основные принципы, заложенные в концепцию:

• 
  
• Дополнение наличных денег, а не их замена
  
• Приватность платежей на уровне cash-транзакций
  
• Бесплатные базовые услуги для населения
  

Ключевые регуляторные вызовы для криптоиндустрии

Борьба с рисками стейблкоинов

Крах TerraUSD (UST) в 2022 году показал уязвимость алгоритмических стейблкоинов. Регуляторы по всему миру усиливают контроль за этим сегментом рынка. Европейский MiCA вводит жесткие требования к эмитентам стейблкоинов, включая:

• 
  
• Полное обеспечение резервами
  
• Регулярный аудит
  
• Прозрачность структуры активов
  

Налогообложение криптоактивов

Практически все развитые страны разработали или разрабатывают системы налогообложения операций с криптовалютами. Основные подходы включают:

Будущее крипторегулирования: прогнозы и сценарии

Сценарий 1: Гармонизация правил на глобальном уровне

ФАТФ (Группа разработки финансовых мер борьбы с отмыванием денег) уже выпустила рекомендации по регулированию виртуальных активов. В перспективе возможно создание международного органа по надзору за крипторынком по аналогии с Базельским комитетом для банков.

Сценарий 2: Фрагментация регулирования

При сохранении текущих тенденций мир может разделиться на "дружественные" и "враждебные" к криптовалютам юрисдикции. Это создаст арбитражные возможности, но затруднит глобальное развитие индустрии.

Сценарий 3: Технологическое доминирование

Блокчейн-инфраструктура может достичь такого уровня зрелости, что сделает национальное регулирование малоэффективным. Децентрализованные протоколы и DAO могут начать диктовать свои правила игры.

Рекомендации для участников рынка

Для инвесторов

• 
  
• Изучайте налоговое законодательство своей страны
  
• Диверсифицируйте активы между разными юрисдикциями
  
• Используйте только лицензированные платформы
  

Для криптокомпаний

• 
  
• Разрабатывайте compliance-стратегию на 3-5 лет вперед
  
• Участвуйте в формировании регуляторной политики
  
• Инвестируйте в юридическую экспертизу
  

Для регуляторов

• 
  
• Балансируйте между инновациями и стабильностью
  
• Развивайте международное сотрудничество
  
• Создавайте "регуляторные песочницы"
  

Заключение

Криптовалютное регулирование находится в стадии активного формирования. В ближайшие 5-10 лет мы станем свидетелями создания новой архитектуры финансового надзора, учитывающей особенности цифровых активов. Успешные юрисдикции будут те, кто сможет найти баланс между защитой инвесторов и поддержкой технологических инноваций. Глобальная гармонизация стандартов остаётся ключевой задачей для обеспечения устойчивого роста крипторынка.

В условиях быстро меняющегося регуляторного ландшафта всем участникам рынка необходимо проявлять гибкость, повышать финансовую грамотность и активно участвовать в диалоге с органами власти. Будущее финансовой системы формируется сегодня, и криптовалюты неизбежно будут играть в ней важную роль.

Understanding Near Earth Objects: Threats and Opportunities

The cosmos is filled with celestial wanderers, but few capture our attention like Near Earth Objects (NEOs). These small bodies from the Solar System have orbits that bring them into Earth's cosmic neighborhood, presenting both a risk of collision and a world of scientific opportunity. This comprehensive guide explores what NEOs are, how we track them, and why they are crucial to our planetary defense and future in space. Our journey begins with a fundamental definition and a look at humanity's efforts to understand these fascinating objects.

What Are Near Earth Objects (NEOs)?

A Near Earth Object is scientifically defined as an asteroid, comet, or large meteoroid whose path around the Sun brings its closest point, or perihelion, within 1.3 astronomical units (AU). This orbital characteristic means NEOs have the potential for close approaches to our planet. They are distinct from planets, moons, and human-made satellites. Their sizes can range from a few meters to tens of kilometers in diameter, making their study and classification vitally important.

The IAU Definition and Orbital Mechanics

The International Astronomical Union (IAU) classifies objects based on their solar orbit proximity, not necessarily their current distance from Earth. The gravitational pull of planets, including Earth, can perturb these orbits over time. This sometimes leads to a NEO being temporarily captured as a "mini-moon" or, more critically, nudged onto a potential collision course.

This dynamic nature of NEO orbits is precisely why continuous monitoring is essential. An object not considered a threat today could have its trajectory altered by gravitational interactions in the future. Understanding these orbital mechanics forms the bedrock of all planetary defense strategies and scientific missions targeting these bodies.

Why NEOs Matter: Risk and Reward

NEOs present a profound dual narrative for humanity. Historically, impacts from these objects have played a role in shaping Earth's geological and biological evolution. Today, the focus is on preventing a future catastrophe while unlocking their scientific and economic potential. They are accessible targets for spacecraft, requiring less energy to reach than the Moon in some cases, which makes them prime candidates for research and resource utilization.

The Collision Risk and Planetary Defense

The most pressing reason to study NEOs is the planetary defense imperative. A collision with a large object could have regional or global consequences. NASA's mandate, supported by international efforts, is to catalog at least 90% of all NEOs larger than one kilometer in diameter. As of recent estimates, approximately 800 of these potentially catastrophic objects have been detected, with around 200 remaining undiscovered.

Global sky surveys, like NASA's Spaceguard, have made significant progress. However, a coverage gap of approximately 30% of the sky remains unsurveyed, a challenge being addressed by new telescope deployments, including facilities in Australia.

Scientific and Resource Utilization Opportunities

Beyond the risk, NEOs are time capsules from the early Solar System. Studying their composition can reveal secrets about the formation of planets and the origin of water and organic materials on Earth. Furthermore, their accessibility makes them intriguing targets for future in-situ resource utilization (ISRU). Metals, water ice, and other volatiles found on some asteroids could one day fuel deep-space exploration and off-world industries.

Recent and Historic Close Approaches

Our planet is regularly visited by NEOs passing safely by. Tracking these close approaches is critical for refining orbital models and improving our detection capabilities. These events range from distant passes to remarkably close shaves that sharpen our focus on planetary defense.

Record-Holding Close Encounters

Some approaches stand out in the observational record. For instance, the closest detected approach without impact occurred on October 30, 2025, by asteroid 2025 UC11, which passed a mere ~6,600 km from Earth's center, or about 237 km above the planet's surface.

Other notable historic close calls include:

• 2020 VT4: Passed within approximately 383 km in November 2020.


• 2004 FU162: Came within roughly 6,500 km in March 2004.

The Case of Asteroid Apophis

One of the most famous NEOs is asteroid 99942 Apophis. This ~390-meter-wide object will make a series of notable close passes to Earth in 2029, 2035, and 2036. Extensive observation has allowed scientists to confidently rule out any impact risk for at least the next century, a conclusion confirmed in late 2021. These passes will provide an unprecedented opportunity for scientific observation.

Global Monitoring and Coordination Efforts

Defending Earth from potential asteroid impacts is a global endeavor. No single nation has the resources or geographic vantage points to monitor the entire sky continuously. Therefore, international collaboration is the cornerstone of effective NEO detection and tracking.

NASA's Leading Role and PDCO

The United States National Aeronautics and Space Administration (NASA) plays a leading global role. Its Planetary Defense Coordination Office (PDCO) manages U.S. efforts and issues regular updates on close approaches and defense planning. A December 3, 2025, update from the PDCO detailed ongoing NEO observations and preparedness efforts, with monthly updates continuing through the year.

NASA also manages the NEO Observations Program, which funds astronomical surveys to find, track, and characterize NEOs. This program is vital for determining their sizes, shapes, compositions, and orbits with high precision.

The European Union's NEO Initiatives

Under its Space Situational Awareness (SSA) program, the European Union runs a dedicated NEO segment. This initiative focuses on mapping European capabilities, networking observation facilities, building comprehensive NEO catalogs, and studying potential deflection missions. The program holds annual workshops, such as one in November 2023 focusing on size estimation and emergency preparedness awareness.

The global focus is increasingly on enhancing coordination for detection, monitoring, and rapid response protocols. This includes improving the preparedness of emergency management agencies worldwide for a potential NEO impact scenario, even as immediate threats remain absent.

NASA's Planetary Defense Strategy and Key Missions

NASA's approach to planetary defense is multi-faceted, focusing on detection, tracking, and characterization of NEOs. The ultimate goal is to find potentially hazardous objects with enough lead time to mount a deflection mission if necessary. This strategy relies heavily on ground-based telescope surveys, space-based observatories, and kinetic impactor technology demonstrations. These coordinated efforts aim to protect Earth from a catastrophic impact.

The DART Mission: A Landmark Test

A cornerstone of modern planetary defense was the Double Asteroid Redirection Test (DART) mission. In September 2022, NASA intentionally crashed the DART spacecraft into the small moonlet Dimorphos, which orbits the larger asteroid Didymos. This was the world's first full-scale test of a kinetic impactor as a method for deflecting an asteroid. The mission was a resounding success, altering Dimorphos's orbit and proving that humanity can potentially change the trajectory of a celestial body.

The DART mission demonstrated that a kinetic impactor could meaningfully change an asteroid's path. This provides a viable, if not primary, method for defending the planet against smaller, yet still dangerous, NEOs.

Finding and Tracking Potentially Hazardous Objects

Before any deflection can be planned, scientists must locate and track NEOs. NASA collaborates with observatories worldwide to scan the skies. Key facilities include the Catalina Sky Survey, Pan-STARRS in Hawaii, and NEOWISE, a space telescope that uses infrared sensors to detect asteroids. The data collected feeds into the Center for Near-Earth Object Studies (CNEOS) at JPL, which calculates orbits and predicts future close approaches with high precision.

The focus is not only on large, kilometer-sized objects. Increasingly, the community is concentrating on smaller NEOs, which are more numerous and harder to detect. A 20 to 30-meter asteroid could cause significant regional damage if it impacted a populated area, making their discovery and tracking a critical priority for global security.

The Science of NEO Characterization

To properly assess the threat—and opportunity—posed by a NEO, scientists must move beyond simply tracking its path. They must characterize its physical properties. This involves determining its size, shape, composition, rotation, and surface features. Characterization informs both the potential damage from an impact and the strategy for a deflection mission, should one be required.

Determining Size, Composition, and Structure

Size is a primary factor in risk assessment. Scientists use optical and radar observations to estimate an object's diameter. Radar, from facilities like NASA's Goldstone Deep Space Communications Complex, can create detailed shape models. Composition is determined by analyzing the light reflected from the NEO's surface, a technique called spectroscopy. An object could be a loose rubble pile or a solid metallic body, a distinction that dramatically influences how it might respond to a deflection attempt.

• Rubble Pile Asteroids: Common and loosely bound by gravity, making them absorbent to impacts but potentially harder to predict.


• Metallic or Solid Bodies: Dense and sturdy, requiring different deflection strategies due to their structural integrity.


• Icy Comet Nuclei: Contain volatile materials; a close pass to the Sun can cause outgassing that unpredictably alters their orbit.

The Role of Space-Based Infrared Observation

Optical telescopes can struggle with dark asteroids that reflect little sunlight. This is where infrared observation becomes invaluable. An object's thermal emission in the infrared spectrum allows scientists to accurately measure its size and albedo (reflectivity). The now-retired WISE telescope and its reactivated NEOWISE mission have been instrumental in this effort, discovering and characterizing tens of thousands of NEOs.

Future missions, like NASA's NEO Surveyor, are being developed specifically for this purpose. This dedicated space telescope is designed to accelerate the discovery of NEOs, particularly those that are hard to spot from Earth's surface. It aims to find the majority of objects large enough to cause regional damage within the next decade.

International Collaboration and Policy Frameworks

Planetary defense transcends national borders. An impact threat could emerge from any direction in the sky and affect any region on Earth. Consequently, a robust international framework for collaboration is essential. Organizations like the United Nations Office for Outer Space Affairs (UNOOSA) and the International Asteroid Warning Network (IAWN) play pivotal roles in coordinating global efforts, standardizing data sharing, and developing response protocols.

The International Asteroid Warning Network (IAWN)

IAWN is a virtual network of observatories and research institutions worldwide. Its mandate is to coordinate the detection, tracking, and characterization of potentially hazardous NEOs. When a new threat is identified, IAWN members pool their observational data to independently verify findings and generate a unified, credible assessment for the world's space agencies and governments. This prevents confusion and ensures a consistent message during a potential crisis.

UN COPUOS and the Planetary Defense Guidelines

The United Nations Committee on the Peaceful Uses of Outer Space (COPUOS) has been a key forum for developing the international legal and policy landscape for planetary defense. Through its Action Team on Near-Earth Objects, the UN has endorsed a set of high-level international response procedures. These guidelines outline steps for communication, mission planning, and public messaging in the event a credible impact threat is identified.

The global community recognizes that while the probability of a large impact in our lifetime is low, the potential consequences are extraordinarily high. This drives continued investment in monitoring and preparedness, even in the absence of an immediate threat.

The Future of NEO Exploration and Utilization

While planetary defense is a primary driver, the future of NEOs is not defined solely by risk. These objects are also stepping stones for human exploration and potential sources of valuable resources. Both government space agencies and private companies are increasingly looking at NEOs as destinations for scientific discovery and economic activity.

NASA's OSIRIS-REx and JAXA's Hayabusa2 Missions

Recent missions have demonstrated our ability to not just visit, but to intimately sample NEOs. Japan's Hayabusa2 mission returned samples from asteroid Ryugu in 2020. NASA's OSIRIS-REx mission successfully collected a sample from asteroid Bennu and returned it to Earth in 2023. The analysis of these pristine materials is revolutionizing our understanding of the early Solar System and the building blocks of life.

These missions also provide critical engineering knowledge for operating in the microgravity environment of a small body. This knowledge is directly applicable to future asteroid deflection missions and commercial ventures aimed at in-situ resource utilization.

In-Situ Resource Utilization (ISRU) Prospects

Some NEOs, particularly certain types of asteroids, are rich in resources like water ice, metals (iron, nickel, cobalt), and rare-earth elements. Water is perhaps the most immediately valuable, as it can be split into hydrogen and oxygen to make rocket fuel. This concept, known as space resource utilization, could enable a sustainable human presence in deep space by creating off-Earth supply chains.

• Water for Propellant: Turning asteroid water into fuel could make spacecraft refueling depots in cislunar space a reality.


• Metals for Construction: Iron and nickel could be used for building structures in space, avoiding the enormous cost of launching materials from Earth.


• Scientific and Commercial Missions: Future missions will likely blend exploration goals with technology demonstrations for mining and processing.

The path forward requires continued advancement in detection technology, international diplomacy, and mission capabilities. As our ability to find and visit these objects improves, so too does our capacity to protect our planet and extend our economic sphere into the Solar System.

Planetary Defense: Capabilities and Limitations

Humanity's planetary defense capabilities have advanced dramatically in recent years, moving from passive observation to active defense testing. However, significant limitations and gaps remain in our planetary shield. The core challenge lies not only in deflecting an asteroid but in finding them with sufficient lead time. Current technology provides a toolbox of potential deflection methods, each with its own ideal use case depending on the size of the threat and the warning time available.

Deflection Techniques Beyond Kinetic Impact

While NASA's DART mission validated the kinetic impactor technique, it is not the only option for altering an asteroid's path. Scientists and engineers have proposed several other methods, each suitable for different scenarios. The choice of technique depends on factors like the object's size, composition, orbit, and how far in advance we detect it.

• Gravity Tractor: A spacecraft would fly alongside a NEO for an extended period, using its own minuscule gravitational pull to slowly alter the object's trajectory over years or decades. This is a gentle, controlled method suitable for longer lead times.


• Ion Beam Shepherd: Similar in effect to a gravity tractor, this method would involve directing a beam of ions from a spacecraft at the asteroid's surface, providing a small but continuous thrust to change its orbit.


• Focused Solar Energy: Using large mirrors or lenses to concentrate sunlight onto a small spot on the asteroid, this method would vaporize surface material. The ejected plume would act like a rocket jet, gradually pushing the asteroid.


• Nuclear Explosion: A last-resort option for short-warning threats or very large objects. A standoff nuclear detonation near the asteroid would vaporize part of its surface, creating a thrust. This method carries political and debris-related complications.

The Critical Importance of Early Detection

All deflection methods share one absolute requirement: time. A kinetic impactor like DART requires years of advance warning to launch a mission and for the small orbital change to accumulate enough to miss Earth. A gravity tractor might require decades. This underscores the paramount importance of survey and detection programs. Finding objects years or even centuries before a potential impact is the single most effective defense strategy.

Early detection is the most cost-effective and reliable form of planetary defense. Investing in next-generation sky surveys like NEO Surveyor is an investment in granting future generations the time they need to act.

The current gap in sky coverage, estimated at around 30%, represents a blind spot where unknown objects could approach. Filling this gap with ground- and space-based telescopes is a top priority for the global planetary defense community. Without comprehensive detection, even the most advanced deflection technology is useless.

Public Awareness and Emergency Preparedness

Planetary defense is not solely a scientific or engineering challenge; it is also a critical communication and emergency management issue. Developing clear protocols for public communication and inter-agency coordination is essential to prevent panic and ensure an orderly response if a credible threat is identified. The work done by the International Asteroid Warning Network (IAWN) and the UN is foundational to this effort.

Risk Communication and Avoiding Misinformation

In an age of instant information and social media, the accurate communication of impact risks is vital. A small probability of impact can be sensationalized, leading to public fear. Space agencies and the IAWN have worked to establish trusted communication channels and standardized impact probability scales, like the Torino Impact Hazard Scale. This scale, ranging from 0 (no hazard) to 10 (certain collision with global catastrophe), helps contextualize risk for policymakers and the public.

Transparency is key. Agencies like NASA and ESA regularly publish their close-approach data and risk assessments online. This open data policy allows independent verification and builds public trust. It also prevents a single unverified claim from creating a crisis.

Coordinating International Emergency Response

If a NEO were predicted to impact Earth, the response would require unprecedented international coordination. The affected region would need evacuation planning, disaster resource mobilization, and possibly global humanitarian support. Organizations like the United Nations Office for Outer Space Affairs (UNOOSA) and the United Nations Office for Disaster Risk Reduction (UNDRR) would play central roles in facilitating this coordination.

National emergency management agencies are increasingly incorporating asteroid impact scenarios into their training exercises. These tabletop simulations help identify gaps in communication, decision-making processes, and logistical planning for a low-probability but high-consequence event.

The Ongoing Search: Current Programs and Future Projects

The work of finding and tracking NEOs never stops. A global network of telescopes operates every clear night, scanning the skies for new objects and refining the orbits of known ones. This work is supported by a combination of government-funded surveys, academic institutions, and a growing number of amateur astronomers.

NASA's NEO Observations Program and NEO Surveyor

The cornerstone of the U.S. effort is NASA's NEO Observations Program. It funds key survey telescopes like the Catalina Sky Survey and Pan-STARRS, as well as radar capabilities at Goldstone and Arecibo. Its most ambitious upcoming project is the NEO Surveyor mission. This infrared space telescope is specifically designed to find NEOs that are difficult for ground-based observatories to spot, particularly those that approach Earth from the direction of the Sun.

NEO Surveyor's goal is to find at least two-thirds of the undiscovered NEOs larger than 140 meters within its first five years of operation. Achieving this would significantly increase our planetary defense readiness and fulfill a U.S. Congressional mandate to catalog these potentially hazardous objects.

European and Global Contributions

Europe's contribution is coordinated through the European Space Agency's (ESA) Space Situational Awareness (SSA) program. The ESA's Flyeye telescope network is being developed to provide a wide-field view of the sky, perfect for spotting new NEOs. The European Union's NEO segment also funds research into deflection missions and maintains its own risk assessment catalogs.

Other nations are also enhancing their capabilities. Japan, with its proven expertise from the Hayabusa missions, continues to be a leader. Countries like China and India are also incorporating NEO detection into their national space programs. This global proliferation of capability makes the sky-watching network more resilient and comprehensive.

Conclusion: Vigilance for Protection and Discovery

The study of Near Earth Objects sits at a fascinating crossroads of science, security, and exploration. They are remnants of our Solar System's birth, potential threats to our future, and possibly the resource keys to unlocking deep space. Our relationship with NEOs has evolved from one of passive observation to active management and planned interaction.

The key takeaways from our current understanding are clear:

• Detection is Paramount: The first and most important step in planetary defense is finding potentially hazardous objects with as much lead time as possible.


• International Collaboration is Non-Negotiable: This global challenge requires shared data, coordinated observation, and unified response planning.


• Deflection is Proven: The DART mission demonstrated that we possess a viable technological tool to change an asteroid's course.


• Characterization Informs Action: Understanding a NEO's size, composition, and structure is essential for both assessing its threat and planning a deflection.


• The Future is Dual-Purpose: Missions to NEOs will increasingly blend planetary defense objectives with scientific discovery and resource prospecting.

While no known NEO poses a significant threat of impact for at least the next century, continued vigilance is essential. The universe is dynamic, and orbits can change. The ongoing programs led by NASA, ESA, and international partners represent a proactive investment in our planet's safety. This work ensures that humanity will not go the way of the dinosaurs, victims of a cosmic impact they could not foresee or prevent. Instead, by watching the skies and developing the tools to respond, we secure our place as a species that can not only understand its cosmic environment but also shape its own destiny within it.

Риски инвестирования в криптовалюту: что нужно знать

Введение в мир криптовалют

1. Высокая волатильность курса

2. Риски мошенничества и безопасности

3. Отсутствие регулирования

4. Технические сложности и риск потери средств

Заключение

5. Регуляторные риски и правовая неопределенность

6. Навигация по рискам ликвидности

7. Психологические и поведенческие риски

8. Экологические риски

Подведение итогов и рекомендации

9. Конкуренция и инновации в криптоиндустрии

10. Ограниченная адаптация и принятие на рынке

11. Влияние макроэкономических факторов

Заключительные соображения

Uniswap: Революция в мире децентрализованных обменов

Введение в Uniswap

История и развитие Uniswap

Как работает Uniswap

Преимущества и недостатки Uniswap

Uniswap и его влияние на рынок

Эволюция Uniswap и его версии

Uniswap V2

Uniswap V3

Токен UNI и управление Uniswap

Проблемы и вызовы Uniswap

Заключение второй части

Будущее Uniswap и его роль в экосистеме DeFi

Решения второго уровня и масштабируемость

Инновации в DeFi и новые возможности

Регуляторные вызовы и поддержка сообщества

Заключение: Uniswap и его влияние на финансовую революцию