Economics
Network Effects in Payment Systems and Digital Currencies
Quick fact
A single additional user can make a payment network more valuable to all existing users, a phenomenon famously quantified by Metcalfe's Law, which states that a network's value grows proportionally to the square of its number of users.
Why this is interesting
Why does almost everyone use the same payment app, even when others exist? The answer lies in an invisible force: the more people use it, the more valuable it becomes.