Has Bitcoin’s philosophy been lost in the evolving crypto market?
As the cryptocurrency that started it all, it’s understandable why so many people turn to Bitcoin (BTC) to gain an understanding of the crypto market and the ideas behind its startup.
However, it has been 13 years since 2009 and the crypto industry has grown far beyond Bitcoin (BTC). Now, tokens exist for a myriad of reasons and support a variety of projects, deviating from Bitcoin’s (BTC) mission statement of being a digital currency decentralized from the banking system through blockchain technology.
We have evolved from Bitcoin (BTC) to HUH Token (HUH), and that trend is only set to continue.
However, despite all the changes, the philosophy of Bitcoin (BTC) has not eroded. In this article, we will go over two main goals of Bitcoin (BTC), and look at the tokens in the current market that best represent these characteristics.
Removing the banks through DeFi technology
As a currency designed after the 2008 financial crisis, the goal of Bitcoin (BTC) was to return economic power to the people through a decentralized system. People no longer had to work through the banking system to make money, and their money could no longer be gambled away by bankers who could lose it.
Blockchains that have taken this concept of decentralized finance and developed it are therefore some of the best examples of the Bitcoin (BTC) philosophy in the modern crypto market.
Cardano (ADA), for example, is often credited with bringing the Proof-of-Stake validation system to the attention of the average crypto user in 2017.
The system used by Bitcoin (BTC), Proof-of-Work, is a system where a multitude of machines perform calculations to validate a block of data that is added to the blockchain. It is a system that is completely decentralized, as anyone with the technology can participate.
However, with the explosive growth Bitcoin (BTC) has experienced, this process has evolved into a technological arms race, where only those with the money to afford the latest technology can participate.
Proof-of-Stake, alternatively, allows only token holders to participate in the validation process. This means that in order to validate for the blockchain, the owner must be committed to the blockchain, and the reduced number of machines allows for wider availability, while reducing overall costs and energy usage.
This has led to many new projects on the market following in Cardano’s (ADA) footsteps, implementing the Proof-of-Stake system in their platform.
This therefore makes Cardano (ADA) an excellent example of the evolution of Bitcoins (BTC) philosophy, taking what already works and improving it for the modern market.
Giving people financial independence with the HUH Token (HUH)
By having a currency entirely in the hands of its users, it was up to these individuals to build the value of Bitcoin (BTC) and encourage the development of the economy.
This concept of a community-built token economy is something that many crypto projects have taken on board, with the understanding that a strong community equals a valuable token. But what this also means is that these economies have the potential to earn individuals large sums if the investments are made correctly in economies with potential.
HUH Token (HUH) is a great example of a token that takes this philosophy and runs with it, forming its own community network where engagement and collaboration are set to evolve the community into a space where users can work together towards individual financial independence.
A blockchain network that hosts a SWAP, NFT marketplace, and a wallet, the HUH Token (HUH) intends to be the lifeblood of a community, where holders can expect their token value to grow as the community expands.
One way the community will expand, through example, is through influencer marketing, with a particularly big stunt planned for later this week that will take the HUH Token (HUH) to heights it has never seen before.
For those interested in getting involved with a new token with great potential and an exciting variety of uses, the HUH Token (HUH) is a fantastic option. With its value already on the rise, it is expected that this upward trajectory will only continue in the wake of the upcoming social media stunt.
Do you want to get involved?
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