A Comprehensive and Quantitative Evaluation Method for Blockchain Protocols

Abstract

As blockchain protocols exhibit diverse characteristics and performances, it is crucial to decide whether to develop a custom blockchain protocol, select an existing platform, or identify a promising protocol before initiating a blockchain-based service or starting a new business. To assist the general public and business operators in assessing the desirability of each blockchain protocol, various services provide evaluation and ranking services for blockchain projects. However, most of these services rely on qualitative evaluation based on reports provided by the blockchain development team. Therefore, we propose a quantitative evaluation method for blockchain protocols that compares and analyzes the technological status, future development direction, and technological differences of Layer 1 and Layer 2 protocols. Our approach incorporates indicators that are distinct from other services and indicators specific to layer 2 solutions, facilitating a more comprehensive analysis of blockchain protocols. This allows for objective evaluation of protocol performance and mutual comparison between protocols.