Table 1 Definitions of system state variables
From: On modeling blockchain-enabled economic networks as stochastic dynamical systems
State Variable | Definition |
|---|---|
S(t) | supply of unit service at time t |
D(t) | demand of unit service at time t |
Q(t) | quantity of unit service transacted at time t |
P(t) | price of a unit service at time t |
R(t) | miner profitability at time t |
K(t) | price of a native token at time t |
B(t) | block rewards released at time t |
C(t) | cost of unit service at time t |
ΔS(t) | arrival of new unit service supply at time t |
ΔD(t) | arrival of new unit service demand at time t |
Xs(t) | departure of unit service supply at time t |
Xd(t) | departure of unit service demand at time t |
V(t) | native token earned per unit fiat invested in the system at time t |
\(\frac {1}{V(t)}\) | intrinsic value of native token at time t |
U(t) | speculative value of native token at time t |
W(t) | amount of native token left in block rewards pool at time t |
I(t) | abstract index on network’s progress to achieve its goal at time t |