Blockchain Token Economics
摘要
This chapter studies blockchain cryptographic tokens by means of mean-field-type game theory. It introduces variance-aware utility function to capture the risk of cryptographic tokens associated with the uncertainties of adoption, network security, regulatory legislation, and market volatility. A relationship between network characteristics, price, number of token holders, and token supply is established. Both in-chain and cross-chain diversifications between tokens are examined using a mean–variance approach.