A Deep Dive Analysis of Cyberspace Economies

A blockchain’s on-chain activities clearly delineate a social domain and thus boundary of an economy. Such cyberspace economies have particular practices (mining, staking), discourses (finality, security, immutability, sovereignty), and material expressions associated with the production (states, protocols, runtimes, smart contracts), use (state changes, transactions), and management (policy, governance) of resources. Bitcoin started as relatively simple economies with only limited classes of economic agents. Smart contracts spawned an explosion of new specialized economic agents (smart contracts) and sub-economies.