Development of a Blockchain Taxonomy

Wieninger, Simon; Schuh, Günther; Fischer, V.

doi:10.1109/ice.2019.8792659

Cited by 13 publications

(21 citation statements)

References 18 publications

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“…For example, providing a taxonomy from a systems-architecture viewpoint where consensus is one dimension among others, so a systems designer can choose an appropriate blockchain style [27]. Two taxonomies attempt to categorise all the components of a blockchain [25,28] and consensus is included as a dimension among others, like the open-source nature of the codebase and the financial classification of the token. A comprehensive survey is found in [18] but offers no formal classification and has some confusing categories.…”

Section: Methodology and Initial Resultsmentioning

confidence: 99%

A Taxonomy of Blockchain Consensus Methods

Nijsse

Litchfield

2020

Cryptography

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For a blockchain, consensus is the foundation protocol that enables cryptocurrencies such as Bitcoin to maintain state. Additionally, to ensure safety and liveness for a publicly accessible and verifiable ledger, fault tolerance must be robust. However, there appears to be a degree of misunderstanding about how consensus is applied across blockchains. To assist researchers considering variations between them, this study presents a rational classification of consensus methods applied to current blockchains. The study provides a survey of 19 methods classified by the scarce resource they employ: clock-cycles, bits, tokens, votes, time, and biometrics. Blockchain implementations are split between consensus algorithms requiring proof of resource and those that use majority voting to update the ledger.

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Section: Methodology and Initial Resultsmentioning

confidence: 99%

A Taxonomy of Blockchain Consensus Methods

Nijsse

Litchfield

2020

Cryptography

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“…The morphological approach has previously been employed in the context of cryptocurrencies for classifying blockchain tokens [19], for that of crypto assets, and [20] for blockchain technologies in general [21]. Oliveira et al employed a design-science approach, conducting a literature review to build a morphological box for the classification of tokens in real-world blockchain projects, which they evaluated and refined via interviews with 16 token project representatives.…”

Section: Morphological Analysismentioning

confidence: 99%

Acceptance Factors for Cryptocurrencies as Payment Systems

Hamm¹

2022

Proceedings of the Annual Hawaii International Conference on System Sciences

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The adoption of cryptocurrencies and blockchain technologies is an active field of research in information systems, looking at the promise and issues hampering the arrival of cryptocurrencies as a general means of payment. However, an overwhelming number of papers only look at existing users and usually limit themselves to a single cryptocurrency, mostly Bitcoin. This paper adds to the body of research by creating a taxonomy of features for cryptocurrencies as payment systems, and conducting a user study with over 500 participants asking what features are most relevant for the adoption of a cryptocurrency. We identify cost-effectiveness and data confidentiality as crucial for potential users, but also find that these two factors are followed by a wealth of convenience features that have found less emphasis in present cryptocurrency implementations.

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“…For instance, Paper 3 differentiates between blockchains and directed acyclic graphs. Nevertheless, some of the most recent contributions solely include blockchain-based DLT systems [14,76,82,87].…”

Section: Comparison Of Taxonomies For Dlt Systemsmentioning

confidence: 99%

“…Moreover, the system configuration space of distributed ledgers and the cryptoeconomies they support is large, which has implications on the applicability as well as cost-effectiveness of DLT systems in real-world applications [87]. To date, these configurations have not been rigorously formalized to guide researchers and practitioners on how to design DLT systems [22,23,62,82]. Therefore, identifying key design choices and system configurations that can differentiate distributed ledgers and guide innovation in new DLT systems can have an impact on reducing the design complexity and cost.…”

Section: Introductionmentioning

confidence: 99%

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Decrypting distributed ledger design—taxonomy, classification and blockchain community evaluation

2021

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More than 1000 distributed ledger technology (DLT) systems raising $600 billion in investment in 2016 feature the unprecedented and disruptive potential of blockchain technology. A systematic and data-driven analysis, comparison and rigorous evaluation of the different design choices of distributed ledgers and their implications is a challenge. The rapidly evolving nature of the blockchain landscape hinders reaching a common understanding of the techno-socio-economic design space of distributed ledgers and the cryptoeconomies they support. To fill this gap, this paper makes the following contributions: (i) A conceptual architecture of DLT systems with which (ii) a taxonomy is designed and (iii) a rigorous classification of DLT systems is made using real-world data and wisdom of the crowd. (iv) A DLT design guideline is the end result of applying machine learning methodologies on the classification data. Compared to related work and as defined in earlier taxonomy theory, the proposed taxonomy is highly comprehensive, robust, explanatory and extensible. The findings of this paper can provide new insights and better understanding of the key design choices evolving the modeling complexity of DLT systems, while identifying opportunities for new research contributions and business innovation.

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Development of a Blockchain Taxonomy

Cited by 13 publications

References 18 publications

A Taxonomy of Blockchain Consensus Methods

A Taxonomy of Blockchain Consensus Methods

Acceptance Factors for Cryptocurrencies as Payment Systems

Decrypting distributed ledger design—taxonomy, classification and blockchain community evaluation

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