Ballandies, MC, Dapp, MM and Pournaras, E orcid.org/0000-0003-3900-2057 (2022) Decrypting distributed ledger design—taxonomy, classification and blockchain community evaluation. Cluster Computing, 25 (3). pp. 1817-1838. ISSN 1386-7857
Abstract
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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Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © The Author(s) 2021. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. |
Keywords: | Blockchain; Classification; Cryptoeconomic design; Distributed ledger; Taxonomy; Token engineering |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Engineering & Physical Sciences (Leeds) > School of Computing (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 11 Aug 2021 15:40 |
Last Modified: | 25 Jun 2023 22:44 |
Status: | Published |
Publisher: | Springer |
Identification Number: | 10.1007/s10586-021-03256-w |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:176975 |
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