On the Origins and Variations of Blockchain Technologies

TL;DR

This paper investigates the origins and core elements of blockchain technologies, analyzing their evolution, key components, and participant roles to better understand their fundamental properties and variations.

Contribution

It provides a comprehensive historical analysis of blockchain origins, identifies five key elements and four participant roles, and compares different blockchain variations.

Findings

Identifies five key elements of blockchains.

Highlights the role of David Chaum's 1979 vault system.

Describes four crucial participant roles in blockchains.

Abstract

We explore the origins of blockchain technologies to better understand the enduring needs they address. We identify the five key elements of a blockchain, show embodiments of these elements, and examine how these elements come together to yield important properties in selected systems. To facilitate comparing the many variations of blockchains, we also describe the four crucial roles of blockchain participants common to all blockchains. Our historical exploration highlights the 1979 work of David Chaum whose vault system embodies many of the elements of blockchains.