ContentsDefining the future of decentralized economics: mapping a moving target 1Roman Beck1 Address clustering 5Raffaele Cristodaro and Claudio J. Tessone 2 Architectural layers 10Vincent Schaaf and Tobias Guggenberger3 Asset token 15Henrik Axelsen4 Automated market makers 22Alfred Taudes and Christoph Siebenbrunner5 Bitcoin 26Jonas Valbjørn Andersen6 Blockchain and AI 31Rongen "Sophia" Zhang7 Blockchain, permissionless/permissioned 35Tan Gürpinar8 Central bank digital currency 39Nadia Pocher and Gilbert Fridgen9 Consensus mechanisms 46Zachary R. Steelman10 Cryptocurrency custody 52Arthur Carvalho11 Crypto tumblers 56Assma Sabbhet and Henry M. Kim12 Crypto assets and crypto derivatives 60Bryan Routledge and Sevin Yeltekin13 Decentralized autonomous organization 65Michel Avital and Nina-Birte Schirrmacher14 Decentralized exchange 71Johannes Rude Jensen and Omri Ross15 Decentralized finance 75Sarah Palurovic and Jonas Gross16 Decentralized governance 83Gayan Benedict17 Decentralized identity 88Paulo Rupino da Cunha and Rodolfo Costa18 Decentralized science 93Walter Blocher19 Ethereum 101Jonas Valbjørn Andersen20 Ethereum Name Service 105Thomas Twenhöven21 Incentive mechanisms and rewards 108Raffaele Ciriello22 Initial NFT offerings 114Rongen "Sophia" Zhang23 Intellectual property 118Dagmar Gesmann-Nuissl24 Maximally extractable value 123Johannes Rude Jensen and Omri Ross25 Mempool 126Benjamin Kraner and Claudio J. Tessone26 Merkle tree 130Boris Düdder27 Metaverse technologies, challenges, and future directions 134Soulla Louca and Marinos Themistocleous28 Mining 140Johannes Sedlmeir and Yunxiu Zhou29 NFT marketplaces 146Simon Perrelet and Jens Dibbern30 Non-fungible tokens 150Dagmar Gesmann-Nuissl31 Nonce 155Philipp Lang32 Oracle 159Harris Kyriakou and Yegin Genc33 Payment tokens 163Conrad Kraft and Jonas Gross34 Proof of work 169Jonas Valbjørn Andersen35 Provenance 174Harris Kyriakou and Yegin Genc36 Quantum resistance 178Esra Yeniaras37 Regenerative finance 185Tobias Ströher and Jens Strüker38 Royalties 189Tejas Kotha39 Sandwich attacks 195Tao Yan and Claudio J. Tessone40 Satoshi Nakamoto 198Barry Varis41 Security token offering 205Marco Schletz42 Seed phrase 209Philipp Lang43 Selfish mining 212Sheng -Nan Li and Claudio J. Tessone44 Smart contract 216Christoph Mueller-Bloch and Marten Risius45 Stablecoins 220Ravi Sarathy46 Staking and proof of stake 226Yusuf Ozdemir and Arthur Carvalho47 Staking as a service 230Arthur Carvalho48 State channels 234Fabian Stiehle and Ingo Weber49 Supply policy 238Mark C. Ballandies and Claudio J.
Tessone50 Testnets in blockchain development 242Philipp Lang51 Tokens 246Asger Balle Pedersen52 Token-based payment systems 250Geoffrey Goodell53 Token economics 256Robert Wayne Gregory and Tobias Mini54 Transparency 262Johannes Sedlmeir and Gilbert Fridgen55 Trust 269Matthias Babel and Marc-Fabian Körner56 Utility tokens 274Qianyu Liu and Claudio J. Tessone57 Verifiable credentials 278Hendrik Pfaff and Nils Urbach58 Volatility: cryptocurrencies 284Vitali Mindel59 Wallet 287Kim Peiter Jørgensen60 Web3 292Ravi Sarathy61 Web3 machine verifiable credentials 298Mary Lacity and Erran Carmel62 Whales 303Raffaele Ciriello63 Zero-knowledge proof 307Asger Balle Pedersen.