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Offline luckybit

Innovation Index
« on: June 06, 2014, 11:34:52 PM »

Is there a theoretical way to track the quantity and quality of innovations within a crypto community or within the crypto-sphere as a whole?

Could it become something which could be used as a marketing point, metric, or tool to measure the inherent wealth / value of a community?

It's my opinion that in a knowledge economy it's all about the quantity and quality of innovation. The innovator is what we all strive to be. Satoshi Nakamoto is a good example of the innovator as an archetype. It is also my opinion that only communities with a sustained winning streak of innovations will thrive in this space.

Not all innovation is technical innovation. We need a way to track every new innovation in any form no matter which community it came from and list it on a wiki somewhere.

Some examples of innovation indexes below:
https://en.wikipedia.org/wiki/Global_Innovation_Index
http://www.globalinnovationindex.org/content.aspx?page=framework
« Last Edit: June 06, 2014, 11:36:51 PM by luckybit »
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Offline donkeypong

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Re: Innovation Index
« Reply #1 on: June 07, 2014, 02:09:20 AM »
It's worth a try. I saw someone on Reddit who tried to rate the main alt coins' communities. He conducted a count of the # of members and separate posts in Reddit subs and Bitcointalk forum threads. When I saw that, I didn't yet understand Bitshares, so I was mostly looking at NXT and Peercoin at the time. Both of those lagged way behind on this guy's count. I pointed out to him that some coins, such as Peercoin (and definitely Bitshares) have a lot more activity on their own forums than on Reddit or Bitcointalk.

That's a digression from your topic, but my point is that it can be difficult come up with a quantifiable way to score such things. They depend on selecting various indicators which hopefully combine to form some objective measure. But it's kind of like one of those magazine lists, "10 Best Small Towns in America" or "Best Burger in Chicago" where you know the only way they sell magazines is to find a new #1 from last year. And the only real way to change the rankings year-to-year is to tweak the criteria. And then most people who read it disagree anyway, which is what they want, because it generates buzz and sells advertising.

I like your idea. And I'm not telling you anything you don't know already. But how can such an index be representative and objective? What indicators should it include?

Offline gamey

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Re: Innovation Index
« Reply #2 on: June 07, 2014, 03:16:27 AM »
http://www.coingecko.com/

Someone at least put a decent amount of effort into it.  It didn't strike me as being complete wrong or anything.
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Offline donkeypong

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Re: Innovation Index
« Reply #3 on: June 07, 2014, 04:41:08 AM »
Hey, look at that. Nice work!

Offline luckybit

Re: Innovation Index
« Reply #4 on: June 07, 2014, 08:59:15 AM »
http://www.coingecko.com/

Someone at least put a decent amount of effort into it.  It didn't strike me as being complete wrong or anything.

It's a good start. It doesn't track innovation but it tracks activity. Now if we can just figure out how to track innovation.

Like for example the concept of the DAC, snapshots, Delegated Proof of Stake, came from the Bitshares community. The Blackcoin made Proof of Stake mineable for the first time, and they are developing Black Halo. The NXT came up with transparent forging and many other cool technologies. The Mastercoin community came up with the meta coin and launched via an exodus address. Ethereum will be turing complete and modular. The Dogecoin community started giving to charity to get attention and did the NASCAR and Olympic thing.

So you can at least track the number of new inventions per blockchain or per community over say a year. Part of the reason most of us were attracted to Bitshares was the fact that Bytemaster and the team were constantly innovating. This is a double edged sword at times because sometimes innovation sets the launch back while others steal the innovations and launch first.

But to have lasting power as a community innovation has to either come from this community or this community will have to borrow innovations from other communities. It's not always easy to borrow innovations from other communities and that is why many clones fail. They think that if they just have the same technical capability without the same people behind it or the same team that they'll be able to keep up just by forking.

The truth is you have to actually keep innovating at the same pace and even increase the pace over time. I think the Bitshares community is still okay but right now NXT is in the lead on innovation. Mastercoin which started all of this has taken a turn for the worst as now they are developing slow and no major innovations have come from the Mastercoin team so far this year. Bitcoin barely innovates at all in the core development but there are so many businesses around Bitcoin who innovate that they can afford to be conservative.

I think Litecoin is going to lose a lot. They haven't innovated much at all and NXT is probably going to take them over. Ethereum has a lot of hype but hasn't launched and Bitshares will launch soon, has a lot of great ideas on paper, but until it's actually implemented we wont know.
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Offline pgbit

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Re: Innovation Index
« Reply #5 on: June 07, 2014, 09:27:13 AM »
http://www.coingecko.com/

Someone at least put a decent amount of effort into it.  It didn't strike me as being complete wrong or anything.
Some coins fare well at the Social Media aspect, obviously ReddCoin @ http://www.reddit.com/r/reddCoin/new/
- for the Bitshares Reddit Team, I suggest that we add drop down menus and fix a few dead links. There are lots in the DAC section that get the oops page on the new Bitshares site. I would have done a Github bug thing, but I don't think that is running now?

List of old / non-working links on Bitshares Reddit

BitShares X
Introduction Video
White Paper

Others
Banking
Charity
Decentralized Namespace Services
Gaming - DEAD LINK
Identity - DEAD LINK
Insurance - DEAD LINK
Lending - DEAD LINK
Money
Music
Smart Contacts - DEAD LINK
Stock Exchange - DEAD LINK
Voting - DEAD LINK

You could always put a list of the top 10 links for Bitshares on the 404 page, as there might be a lot of old backlinks from other sites that aren't so easy to change.
 

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Re: Innovation Index
« Reply #6 on: June 07, 2014, 12:24:25 PM »
Wow. Gonna update reddit soon .. thy for pointing out
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Offline CLains

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Re: Innovation Index
« Reply #7 on: June 07, 2014, 12:46:46 PM »
http://www.coingecko.com/

Someone at least put a decent amount of effort into it.  It didn't strike me as being complete wrong or anything.

It's a good start. It doesn't track innovation but it tracks activity. Now if we can just figure out how to track innovation.

Like for example the concept of the DAC, snapshots, Delegated Proof of Stake, came from the Bitshares community. The Blackcoin made Proof of Stake mineable for the first time, and they are developing Black Halo. The NXT came up with transparent forging and many other cool technologies. The Mastercoin community came up with the meta coin and launched via an exodus address. Ethereum will be turing complete and modular. The Dogecoin community started giving to charity to get attention and did the NASCAR and Olympic thing.

So you can at least track the number of new inventions per blockchain or per community over say a year. Part of the reason most of us were attracted to Bitshares was the fact that Bytemaster and the team were constantly innovating. This is a double edged sword at times because sometimes innovation sets the launch back while others steal the innovations and launch first.

But to have lasting power as a community innovation has to either come from this community or this community will have to borrow innovations from other communities. It's not always easy to borrow innovations from other communities and that is why many clones fail. They think that if they just have the same technical capability without the same people behind it or the same team that they'll be able to keep up just by forking.

The truth is you have to actually keep innovating at the same pace and even increase the pace over time. I think the Bitshares community is still okay but right now NXT is in the lead on innovation. Mastercoin which started all of this has taken a turn for the worst as now they are developing slow and no major innovations have come from the Mastercoin team so far this year. Bitcoin barely innovates at all in the core development but there are so many businesses around Bitcoin who innovate that they can afford to be conservative.

I think Litecoin is going to lose a lot. They haven't innovated much at all and NXT is probably going to take them over. Ethereum has a lot of hype but hasn't launched and Bitshares will launch soon, has a lot of great ideas on paper, but until it's actually implemented we wont know.

Excellent post. Innovation is what drives the whole market.
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