Cost Per One Thousand Transactions (CPT)
Can decentralized networks enable data-rich apps? Why Cost per Thousand Transactions is the most important metric we should be measuring.
{NEW RESEARCH}:
— McCoy (@chrisamccoy) August 20, 2019
1/ My team at STORE routinely thinks about decentralized computing differently than the mainstream.
2/ We kept asking ourselves why.
3/ We finally figured it out: the mainstream industry, at least today, is focused on data-light, decentralized computing (dApps) pic.twitter.com/dUU0BKAKZ9
4/ Instead, we're thinking about data-rich, decentralized computing (tokenized apps or tApps) where data is tokenized, open, and represented by a private key.
— McCoy (@chrisamccoy) August 20, 2019
5/ Data itself becomes programmable money.
6/ Tokenized data becomes a new, open computing platform.
7/ To capture the differences, we brought it down to first principle economics by asking three questions:
— McCoy (@chrisamccoy) August 20, 2019
- What are the costs of decentralized computing?
- Who bears this cost?
- How does it compare to the cost of centralized computing infrastructure like Amazon AWS?
8/ To answer, we introduced a new metric for quantifying the costs of both decentralized and centralized computing. We call it "Cost Per Thousand Transactions" or CPT for.
— McCoy (@chrisamccoy) August 20, 2019
9/ CPT like CPM (Cost Per Thousand Impressions) but for computing costs.
10/ Our team wrote a research paper on CPT where we also explore if decentralized networks can enable data-rich apps (Yes).
— McCoy (@chrisamccoy) August 20, 2019
11/ We also make a case that CPT is the most important metric in decentralized computing that the industry should be measuring -- but isn't.
12/ Download the paper here: https://t.co/Z9ETCLPnFB.
— McCoy (@chrisamccoy) August 20, 2019
13/ If you end up reviewing, I would love your feedback, questions, and counter-thinking on it.
It'll help us push CPT far and wide.
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