Two-sided markets are markets with two types of participants, where the benefit for one side depends on the number of participants on the other side of the market. This is also know as cross-side network externalities or cross-side network effects.

A network effect, or network externality, is the effect that one user of a product or service has on the value of that product to other people. It can be positive (more users, more value) or negative (more users decrease value).

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