Methodological Advancements in Standardizing Blockchain Assessment

Abstract

In the burgeoning landscape of blockchain technologies, the quest for a robust and comprehensive evaluation framework remains an exigent challenge. This study introduces an unprecedented methodology that synergizes the common vulnerability scoring system (CVSS) and the weighting mechanism to evaluate blockchain platforms across the multiple dimensions of mainnet, fungible tokens, and nonfungible tokens, using miscellaneous criteria such as legal compliance and proprietary technology. CVSS is employed to perform a quantitative assessment of blockchain-specific vulnerabilities across various subfactors, thereby establishing an empirical foundation. Subsequently, the weighting mechanism is used to effectively translating qualitative insights into quantifiable metrics. The introduction of this methodological framework is particularly timely and necessary, given the rapidly evolving landscape of blockchain technology. It promises to standardize the evaluation process, providing a robust foundation for future research, policy-making, and technological advancements in the blockchain domain. In doing so, our study not only fills a critical gap in the current literature but also paves the way for a more systematic and informed approach to blockchain assessment. This dual-tiered approach not only ensures a balanced evaluation, capturing both mechanistic intricacies and human subjectivity, but also renders a highly adaptable and scalable framework. The proposed methodology is anticipated to significantly contribute to the standardization of blockchain evaluation, thereby fostering informed decision-making among stakeholders and catalyzing advancements in the blockchain ecosystem.