Evolution of blockchain technology
Insights from the GitHub platform
A new study of the global open-source platform, GitHub, offers key lessons on blockchain development—how projects have grown, what's likely to come next, and the implications for financial services firms.
The blockchain technology journey
We cannot predict the exact trajectory and impact of blockchain technology. But we also should not ignore its early stages of development and successes along with failures. Tracking this young technology’s development could potentially maximize its potential to best serve us.
Figuring out how foundational technologies, such as the Internet or mobile, morph and grow is not easy. New technologies often attract a wide variety of developers, including many freelancers from around the world. The sheer number of developers, the types of problems they are trying to solve, and the geographic spread can make it difficult to anticipate where any new technology is headed.
But perhaps the fundamental difference with blockchain development is that it has largely been orchestrated in the open-source environment. Bitcoin, the original blockchain system, was birthed in open source.
Accordingly, in an effort to better understand the development of blockchain and its ecosystem, we have conducted an extensive data analysis of blockchain projects in an open-source environment. Our study appears to be the first empirical attempt to understand the evolution of blockchain using metadata available on GitHub, a global software collaboration platform.
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