How quickly people are adopting a new technology. In some cases it may involve segregation of the target audience in order to understand the market.
What is Adoption Curve?
Using adoption curves, you can see how quickly a new product or service gains traction in a market.
Many people aren’t able to adopt a new product or technology at once. Only a small number of people are willing to give it a shot at first before the word spreads.
Consider the case of cell phones: as the number of people who use them increased, so did the number of people who provide support for them. They became more popular as more people began to use them, and each new generation of adopters set the stage for the next.
In a variety of markets, different segments of the market adopt new products and technologies at various stages and for a variety of reasons.
The adoption curve of blockchain technology is a great illustration of this. However, it wasn’t until Satoshi Nakamoto published a whitepaper in 2008 that laid the groundwork for the blockchain model that the term “blockchain” was coined. The genesis chain was mined for the first time in 2009.
Thousands of new cryptocurrencies have been created since the first BTC was released, and more than 80% of the total Bitcoins have been mined since that time.