Interoperability between blockchains and tokens/ Decentralization/ Open Source applications.
I been doing a long of thinking about BTC, ETH, IOTA, SAFEMOON, POLY, ADA among many other ones and the use of such currencies.
Of course as well we all know to make a cryptocurrency work properly you need a state of use, or a utility behind the token, it can’t be a token that does nothing but shill itself because in the end it’s doomed for the pump and dump attitude of a lot of coins.
Of course being in the crypto currency community you would know the most important part of currency is exchanges, and ease of use for new users. If a crypto currency is difficult to get into its an impossibility for the Token or blockchain to reach its full potential.
The proper way I feel as some tokens are doing as of late is a non mining consensus. Why you might ask, I feel with a mining process behind the coin we have a failure rate of larger whales taking over a particular coin or large companies building a platform to mine and exponentially increase the size of whales in the market.
I love that Safemoon started Tokenomics with their coin and built in a burn side to it, yes there was a lot of tokens, they almost burnt through half but here is the kicker when it comes to burn rates on coins/tokens.
With more bridges, a 1 for 1 swap of cryptocurrency and added burn you have a product that can exponentially burn down to its lowest numbers. Then by doing such you are creating a lower amount of tokens to create a higher demand. Reasoning behind a larger volume of coins is to allow for a liquidity pool on the added bridges as the Crypto grows and becomes more popular.
With every crypto wallet as of right now, there is a few things missing and I see some wallets slowly starting to implement them. For one DAPPS, ability to create contracts, ability to start micro loans, or staking. The ability to use apps such as GroupOn, Ticketmaster, let’s say Netflix’s, Twitch, Facebook.
Conversion of the token or coin to Fiat in a single transaction and creating a burn is interesting. Reason being, we are all creature of habits, we use the easiest form of payment, if the wallet was your ecosystem for using these apps, would you not just deposit more FIAT to use the system to increase the value of the Hodlings you have.
Bitcoin maximalists have this set mentality that their coin is the end all of be all, here is a question for you though. If that crypto was the answer, would have Satoshi Nakamoto left it for other projects? Obviously BTC is not a bad thing but what it did lose was its decentralization, larger corporations have enveloped it and ruined the purpose behind what BTC was meant to be, yes it can still be a standard though.
As we evolve in this world guys, the largest thing we need to look at is ending the control of things such as Windows, Apple, Amazon, Facebook, you probably like your crazy but in the end I am not. Large corporations lose insight into the market when they have full control of something. It’s like a treasury who has no concern on anything but the lining of their own pockets. They have boards but the board members are there for their own interest as well.
We need a public consensus when it comes to decisions not one person or twelve people making the final decision. This is where decentralization and potentially whale control makes sense as well. When control is taken away from large companies and it’s divided among many, a state of use comes into effect that allows for a voting consensus, that works properly.
You want to make a change to what your contract does, allow the people to have a vote of consensus, so that whatever you change the group decides it. Take away the control of FIAT, take away the control of credit cards high interest rates. End the control of high fees of banking and the control over your money, and we have an answer that fits, plus on top of that if your money is constantly invested, you’re also allowing yourself the ability of avoidance of tax losses.
Why, because if you’re not taking out the token or crypto currency and still using it for purchases, the government is still getting their taxes on your money, there is no reason to let go of it, or sell out of it. It becomes a stable use currency, one that is always of use and potentially never sway from.
Banks like to hedge your investments in high risk ventures so that in the end they win, instead if you could stake your currency for a profit and use your profit for your ventures this is the proper path to success.
Big companies will never go away guys but we need to let them know with decentralization they need to work with us. On top of this realize we are taking away control from other countries as well our China, or Russia, or Africa of the world that might be controlled by dictatorships or controlling groups.
We need to help people invest in cryptocurrency in developing countries to use DAPPS, for the betterment of society and allow their countries to escape the grasp of people who don’t want to lose control of their ability to tell them what to do. Thats also where we fell with companies, both feel they have this hand hold on you and you can’t escape. Cryptocurrency is your way to do this!
With the ability to open up marketplaces a decentralized market with no names attached to it, just a blockchain we are creating an environment that people in other countries have the ability to buy into and sell their products. Allow the decentralized market to factor shipping costs, and third party shipping companies the ability to bypass knowing where other products are coming from. Avoiding costly tariffs or trade agreements that hamper our society to grow and flourish.
I almost forgot this I included it in the title but forgot to mention this, open source, this is another huge point behind the success of cryptocurrency. We need open source codes and ideas to allow for the free flow of information but also development of digital currency. For if we can compare and consider what others are doing and make each other better through consulting and working together imagine the rapid onset of success that we would have.
We need to work together guys in the end, yes there still needs to be a regulatory body, but the people need to vote on the final decisions made, for with greed comes power! Let’s take the power back, bridges of currency on the digital market is the way to go! Please work on this together, and stop this maximalist attitude of my coin or token is the best, every currency has a different state of use so with bridges or chains comes the way to help revolutionize and create an environment of whatever you need is at the tips of your fingers. Easy implementation. Stop blocking others from going cause in the end we are in this together. OPEN SOURCE AND DECENTRALIZATION IS THE PATH OF SUCCESS.
Twitter: https://twitter.com/CryptoBeast32