| Title: DEVELOPMENT OF A COMPREHENSIVE BLOCKCHAIN PROJECT EVALUATION MODEL (BLOCKCHAIN PROJECT EVALUATION MODEL) |
| Author: Yaroslav Ivanov |
| Abstract: As crypto exchanges and decentralized exchanges have proven untrustworthy, this paper seeks to create a rigorous Blockchain Project Evaluation Model (BPEM) for assessing the trustworthiness of a blockchain project. This BPEM will collate the components of technical audit, on-chain and off-chain analytics, liquidity indicators, and behavioral indicators into a single score of the project. The relevance of this work is driven by widespread instances of trade volume manipulation, opaque tokenomics, and tightening regulatory requirements (including in the context of MiCA). The scientific novelty lies in the creation of a hybrid MCDM architecture with an automated Incongruity Detection System (IDS) module that cross-checks tokenomics, liquidity, on-chain activity, and public statements and introduces a penalty coefficient into the final rating. The results of BPEM validation across case studies of wash trading and hidden centralization demonstrate that the key indicators of project resilience are not nominal volume but market depth, liquidity quality, and the integrity of on-chain data, and that identified inconsistencies act as early markers of scam projects and systemic risks. It is shown that a comprehensive multifactor analysis significantly outperforms the use of isolated metrics and can serve as a backbone for listing and compliance procedures. The article is of practical value for researchers of decentralized finance, risk managers, crypto exchange analysts, and digital asset regulators |
| Keywords: blockchain projects, reliability assessment, scoring model, liquidity, on-chain analytics, tokenomics, incongruity detection |
| DOI: https://doi.org/10.38193/IJRCMS.2025.7639 |
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| Date of Publication: 31-12-2025 |
| Download Publication Certificate: PDF |
| Published Vol & Issue: Volume 7 Issue 6 Nov-Dec 2025 |