The year 2016 has witnessed more than 1000 distributed ledger (DL) and blockchain projects raising $600 billion in investments. Analyzing and comparing these innovations becomes a challenge, one that FuturICT 2.0 researchers, Mark C. Ballandies, Marcus M. Dapp, and Evangelos Pournaras, tackle in their recent paper ‘Decrypting Distributed Ledger Design - Taxonomy, Classification and Blockchain Community Evaluation’.
`The lack of a common, well-defined terminology in Distributed Ledger
Technology (DLT) systems was apparent. We spoke about the same things,
but used different words. Moreover, it was difficult to distinguish
between different DLT systems, like Bitcoin, IOTA or Zcash.
We hope that the developed conceptual architecture and taxonomy allows
for both, to reason about DLT systems and to differentiate between
them,' says Mark.
The paper first describes a conceptual architecture of four key concepts of DLT systems, then establishes a taxonomy based on this architecture. Moreover, the paper classifies 29 existing systems using this taxonomy, and validates this effort through a crowd-sourced study in the blockchain community. The paper provides the most comprehensive overview of DLT systems to date.
To know more, you can access the paper through this link.
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