Development Trajectory of Blockchain Platforms: The Role of Multirole

IF 5 3区 管理学 Q1 INFORMATION SCIENCE & LIBRARY SCIENCE Information Systems Research Pub Date : 2023-10-13 DOI:10.1287/isre.2022.0243
Tianyi Li, Xiaoquan (Michael) Zhang
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Abstract

Understanding the development trajectory of digital platforms is central to digital platform management. We develop a parametric model that investigates the development trajectories of blockchain platforms, accounting for the feedback between blockchains’ utility change and people’s adoption and abandonment behavior. We consider a typical blockchain participant to simultaneously play three roles on the platform, user, investor, and laborer, each contributing to blockchains’ multi-faceted utility: providing service for transaction/interaction, providing a medium for digital investment, and providing workspace for online labor. The model describes a three-phase development trajectory for blockchain platforms: a chaotic initial stage, a rapid growth stage, and a mature stage of stable market cycles. The model was used to match 112 token price series, demonstrating robust performance across different fitting setups and outperforming existing models. The study identifies two temporal parameters, the time delay in quitting the platform and the holding time of the platform’s token, that significantly differentiate blockchains’ development trajectories. We extend the model to study forking events; results suggest that fork launch time is more important than forking amplitude in influencing the main chain’s subsequent development and that forking can increase the exposure of the forked platform.
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区块链平台的发展轨迹:多角色的作用
了解数字平台的发展轨迹是数字平台管理的核心。我们开发了一个参数模型,研究了区块链平台的发展轨迹,考虑了区块链效用变化与人们采用和放弃行为之间的反馈。我们认为一个典型的区块链参与者在平台上同时扮演三个角色:用户、投资者和劳动者,每个角色都为区块链的多方面效用做出贡献:为交易/交互提供服务,为数字投资提供媒介,为在线劳动力提供工作空间。该模型描述了区块链平台的三个阶段发展轨迹:混沌初始阶段,快速成长阶段,市场周期稳定的成熟阶段。该模型用于匹配112个代币价格系列,在不同的拟合设置中表现出稳健的性能,并且优于现有模型。该研究确定了两个时间参数,退出平台的时间延迟和平台代币的持有时间,这两个参数显着区分了区块链的发展轨迹。我们将模型扩展到研究分叉事件;结果表明,分叉启动时间比分叉幅度对主链后续发展的影响更大,分叉可以增加分叉平台的曝光率。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
9.10
自引率
8.20%
发文量
120
期刊介绍: ISR (Information Systems Research) is a journal of INFORMS, the Institute for Operations Research and the Management Sciences. Information Systems Research is a leading international journal of theory, research, and intellectual development, focused on information systems in organizations, institutions, the economy, and society.
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