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Michel Rauchs
@mrauchs
, 16 tweets, 5 min read Read on Twitter
Exploring the emergence & evolution of the #Bitcoin #business #ecosystem. The following network graphs are based on dataset of 514 entities.
Bitcoin business ecosystem - 2010
Bitcoin business ecosystem - 2011
Bitcoin business ecosystem - 2012
Bitcoin business ecosystem - 2013
Bitcoin business ecosystem - 2014
Bitcoin business ecosystem - 2015
Fascinating how quickly new market segments have emerged and how diverse the service offerings have become. Feel free to ask for full thesis
Additional info:
- vertex size == number of affiliated market segments
- edges == affiliation of an entity with a specific market segment
Market segment framework used for the analysis: a total of 22 sub-industries in the #Bitcoin #business #ecosystem.
Emergence of each market segment and first product/application/service. #Bitcoin
Number of foundations and exits in the #Bitcoin business ecosystem.
Number of mergers and acquisitions.
Pivots and rebranding.
Partial pivot == entity focuses part of operations on non-Bitcoin related activities.
Total funding for only-#Bitcoin entities.
And finally the summary statistics of the dataset.
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Michel Rauchs
@mrauchs
1/ Let's get to the core of the report today; namely the conceptual framework that breaks down a #DLT system into distinct pieces in order to better understand the relationships between its elements.

Full report: jbs.cam.ac.uk/faculty-resear…

Alternative link: papers.ssrn.com/sol3/papers.cf…
2/ Speaking of elements: the framework consists of three types: layers, components, and processes.

Each layer is composed of a set of components, and each component comprises a set of processes.

In total, we identify 3 layers, 7 components, and 18 processes.
3/ Let's start with the base layer - the protocol layer.

The protocol layer is the foundation of the entire DLT system: it defines the set of formal rules that governs the system and codifies its architectural design.
Read 14 tweets
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Michel Rauchs
@mrauchs
1/ Today, I'd like to share some of the highlights in Section 2 of our new report on #DLT systems (available here: papers.ssrn.com/sol3/papers.cf…).

We will provide a formal definition of a DLT system and explain some of the key concepts.
2/ Before diving into the key concepts, it is important to understand that unlike 'traditional' databases, DLT systems are designed to operate in an adversarial environment.
3/ That doesn't necessarily mean that there are adversaries actively trying to attack or sabotage the system; rather, a DLT system should be designed to tolerate the potential presence of malicious actors - to a certain extent.
Read 16 tweets

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