dido:public:ra:1.1_intro:02_purpose
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dido:public:ra:1.1_intro:02_purpose [2021/08/17 11:51] murphy |
dido:public:ra:1.1_intro:02_purpose [2022/06/09 22:48] (current) nick |
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| , which are: | , which are: | ||
| - | * Provide a common language for the various stakeholders | + | * Provide a common language for the various [[dido:public:ra:xapend:xapend.a_glossary:s:stakeholder|stakeholders]] |
| * Provide consistent implementation of technology to solve problems | * Provide consistent implementation of technology to solve problems | ||
| - | * Support validation and comparison of implementations | + | * Support [[dido:public:ra:xapend:xapend.a_glossary:v:validation|validation]] and comparison of implementations |
| * Encourage adherence to common standards, specifications, and patterns | * Encourage adherence to common standards, specifications, and patterns | ||
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| The DIDO RA concerns distributed, [[dido:public:ra:xapend:xapend.a_glossary:p:p2p]] computing including blockchains and cryptocurrencies, but also covers domains that have little or nothing to do with currencies. For example, DIDOs can be blockchains, [[dido:public:ra:xapend:xapend.a_glossary:d:distributed_ledgers|distributed ledgers]], or graphs. Blockchains may use any consensus algorithm such as PoW or PoS. Cryptocurrencies are used as a placeholder for any of the other domains that can be supported using DIDO: supply chains, government records, scientific data, medical records, escrows, swaps, etc. | The DIDO RA concerns distributed, [[dido:public:ra:xapend:xapend.a_glossary:p:p2p]] computing including blockchains and cryptocurrencies, but also covers domains that have little or nothing to do with currencies. For example, DIDOs can be blockchains, [[dido:public:ra:xapend:xapend.a_glossary:d:distributed_ledgers|distributed ledgers]], or graphs. Blockchains may use any consensus algorithm such as PoW or PoS. Cryptocurrencies are used as a placeholder for any of the other domains that can be supported using DIDO: supply chains, government records, scientific data, medical records, escrows, swaps, etc. | ||
| - | The explosion in cryptocurrencies is well known and documented. An example is presented extremely well in the animation provided by Jeff Desjardins((J. Desjardins, "Business Insider - Visual Capitalist," 13 December 2017. [Online]. Available: http://www.businessinsider.com/animation-shows-the-explosion-in-ico-funding-over-the-last-four-years-2017-12. [Accessed 17 December 2017].)). | + | The explosion in cryptocurrencies is well known and documented. An example is presented extremely well in Figure {{ref>icoAnimation}} for the animation provided by Jeff Desjardins((J. Desjardins, "Business Insider - Visual Capitalist," 13 December 2017. [Online]. Available: http://www.businessinsider.com/animation-shows-the-explosion-in-ico-funding-over-the-last-four-years-2017-12. [Accessed 17 December 2017].)). |
| : **Note** “ICO funds raised” went from zero in 2014 to about $6.5 billion in November 2017. | : **Note** “ICO funds raised” went from zero in 2014 to about $6.5 billion in November 2017. | ||
| - | <figure> | + | <figure icoAnimation> |
| {{ dido:public:ra.1.intro:figure_3.png?400 |}} | {{ dido:public:ra.1.intro:figure_3.png?400 |}} | ||
| <caption>The explosive growth of [[dido:public:ra:xapend:xapend.a_glossary:i:ico]] over four years | <caption>The explosive growth of [[dido:public:ra:xapend:xapend.a_glossary:i:ico]] over four years | ||
| Line 29: | Line 29: | ||
| </figure> | </figure> | ||
| - | To provide a common language for stakeholders, the DIDO RA describes the components of a distributed network of peers supporting distributed data and computation. It is comprised of a collection of peer [[dido:public:ra:xapend:xapend.a_glossary:n:node|nodes]] that operate within a virtual distributed network. Each node in the architecture selects the set of architectural components, and the relationships between the components, required by their stakeholders to solve the specific requirements (e.g., blockchains, cryptocurrencies, distributed ledgers, graph databases). The individual nodes synchronize via distributed software communicating over secure messaging infrastructure. All computations and operations could be executed redundantly on all the nodes within the DIDO network of peers. DIDO components are virtual representations of functionality found in DIDO products. In addition to identifying and defining the components and their inter-relationships, the RA associates each component with existing standards (refer to Section [[dido:public:ra:1.2_views:1_stakeholder:7_stds|2.1.7]]). | + | CoinDesk used data from CoinGeko, see Figure {{ref>coinGekoData}}, to highlight the extraordinary growth in the Cryptocurrency world by plotting the number of Initial Coin Offerings over time. |
| + | |||
| + | <figure coinGekoData> | ||
| + | {{ :dido:public:ra:1.1_intro:screen_shot_2022-06-07_at_2.57.57_pm.png?600 |}} | ||
| + | <caption>Roughly 16,000 Cryptocurrencies were created between 2014 and 2021.</caption> | ||
| + | </figure> | ||
| + | |||
| + | In addition to the explosion in cryptocurrencies, two different crypto-related concepts have emerged: [[dido:public:ra:xapend:xapend.a_glossary:m:memecoin | Memecoins]] and [[dido:public:ra:xapend:xapend.a_glossary:n:nft | Non-Fungible Tokens (NFTs)]]. When Memecoins are listed on exchanges, they are just classified as a cryptocurrency. There is no way of knowing how many non-listed Memecoins there are. | ||
| + | |||
| + | However, NFTs use existing DIDO platforms such as Ethereum and smart contracts, but instead of representing [[dido:public:ra:xapend:xapend.a_glossary:f:fungibility]] ((**Fungibility** is the interchangeability of a good or asset with other specific goods/assets of the same type, simplifying trade and exchange processes. [[https://www.investopedia.com/terms/f/fungibility.asp]])), such as Bitcoin, or an Eth. NFTs represent a one-off entity that is unique from any other entity. | ||
| + | |||
| + | There appears to be a decline in the interest of NFTs, but still, as of July 2021, there was still a lot of interest. | ||
| + | |||
| + | : //Another interesting fact about figure 1 is that, while the number of bids has significantly dropped from the first months of 2021, the number of NFTs minted by creators has not seen a drastic decline. This contrast between minting and bidding activities could suggest that even though art collectors are now less inclined to buy NFTs on Foundation than in the first months, digital art creators have not lost hope in selling their artworks on Foundation.// (( | ||
| + | Mohammad Amin Fazil, Ali Owfi, and Mohammad Reza Taesiri, | ||
| + | Preprint, | ||
| + | arXiv, | ||
| + | __Under the Skin of Foundation NFT Auctions__, | ||
| + | 28 September 2021, | ||
| + | Accessed: 9 June 2022, | ||
| + | [[https://www.researchgate.net/publication/354950127_Under_the_Skin_of_Foundation_NFT_Auctions/fulltext/6155b879a6fae644fbafdb2a/Under-the-Skin-of-Foundation-NFT-Auctions.pdf]] | ||
| + | )) | ||
| + | |||
| + | <figure> | ||
| + | {{ :dido:public:ra:1.1_intro:screen_shot_2022-06-09_at_10.41.24_am.png?600 |}} | ||
| + | <caption>Number of Bids, and Minted NFTs on the Foundation marketplace (( | ||
| + | Mohammad Amin Fazil, Ali Owfi, and Mohammad Reza Taesiri, | ||
| + | Preprint, | ||
| + | arXiv, | ||
| + | __Under the Skin of Foundation NFT Auctions__, | ||
| + | 28 September 2021, | ||
| + | Accessed: 9 June 2022, | ||
| + | [[https://www.researchgate.net/publication/354950127_Under_the_Skin_of_Foundation_NFT_Auctions/fulltext/6155b879a6fae644fbafdb2a/Under-the-Skin-of-Foundation-NFT-Auctions.pdf]] | ||
| + | ))</caption> | ||
| + | </figure> | ||
| + | |||
| + | Looking beyond the Crypto-World, there are other uses of the Distributed technologies. These are not necessarily referred to as Blockchains, but often as Distribute Ledger Technologies (DLT). Figure {{ref>distUseCasesGraph}} provides the results of a survey conducted in Singapore on the use cases of Blockchains within the very active Singapore community. Every respondent could select any number of the use cases. | ||
| + | |||
| + | <columns 100% 50% - -> | ||
| + | <table distUseCasesTable> | ||
| + | <caption>Approximate break down of "block chain" use cases.</caption> | ||
| + | ^ Area of Interest ^ Approximate Percent | | ||
| + | ^ Digitial Currencies | 35% | | ||
| + | ^ Digital Tokens | 50% | | ||
| + | ^ Identity | 24% | | ||
| + | ^ Asset Track and Traceability | 55% | | ||
| + | ^ Data Storage | 30% | | ||
| + | ^ Payments | 35% | | ||
| + | ^ Trade Finance | 8% | | ||
| + | ^ Loyalty Programs | 10% | | ||
| + | ^ Other | 10% | | ||
| + | </table> | ||
| + | <newcolumn> | ||
| + | <figure distUseCasesGraph> | ||
| + | {{ :dido:public:ra:1.1_intro:screen_shot_2022-06-09_at_7.12.59_pm.png?400 |}} | ||
| + | <caption>Results of Singapore’s blockchain ecosystem Survey(( | ||
| + | Sam Bourgi, | ||
| + | __Singapore's blockchain industry cites supply chain management as biggest DLT use case__, | ||
| + | Cointelegraph, | ||
| + | 7 December 2020, | ||
| + | Accessed: 9 June 2022, | ||
| + | [[https://cointelegraph.com/news/singapore-s-blockchain-industry-cites-supply-chain-management-as-biggest-dlt-use-case]] | ||
| + | )) </caption> | ||
| + | </figure> | ||
| + | </columns> | ||
| + | |||
| + | <figure> | ||
| + | <caption></caption> | ||
| + | </figure> | ||
| + | |||
| + | <figure> | ||
| + | <caption></caption> | ||
| + | </figure> | ||
| + | |||
| + | |||
| + | To provide a common language for stakeholders, the DIDO RA describes the components of a distributed network of peers supporting distributed data and computation. It is comprised of a collection of peer [[dido:public:ra:xapend:xapend.a_glossary:n:node|nodes]] that operate within a virtual distributed network. Each node in the architecture selects the set of architectural components, and the relationships between the components, required by their stakeholders to solve the specific requirements (e.g., blockchains, cryptocurrencies, distributed ledgers, graph databases). The individual nodes synchronize via distributed software communicating over a secure messaging infrastructure. All computations and operations could be executed redundantly on all the nodes within the DIDO network of peers. DIDO components are virtual representations of functionality found in DIDO products. In addition to identifying and defining the components and their inter-relationships, the RA associates each component with existing standards (refer to Section [[dido:public:ra:1.2_views:1_stakeholder:7_stds|2.1.7]]). | ||
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dido/public/ra/1.1_intro/02_purpose.1629215468.txt.gz · Last modified: 2021/08/17 11:51 by murphy
