The Future of Crypto Lies in Holistic Ecosystems
There was no lack of hot news related to the current cryptocurrency ecosystem this year. New projects emerge so stubbornly and inexorably that sometimes you wait for a new decentralized miracle just as for another Netflix series. New solutions appear every day and it’s not so easy to find a project that can astound your imagination.
The flip side of this variety of crypto solutions is that it’s hard to grasp the point and benefits of using them. Thousands of blockchain companies shape this landscape in a specific way. But if you keep in mind the core values of Bitcoin, you can see that key benefits of crypto are concentrated around very basic things: decentralization, security, privacy, absence of intermediaries.
In the early years of crypto, there was a significant part of the community that strived to focus on such a side of blockchain technology as privacy. Examples of Monero, Dash, Zcash a couple of years ago were desired alternatives to Bitcoin, where the ledger is public and all the transactions are traceable. It aligns well with the current situation when a lot of individuals are not so comfortable when governments, financial institutions, and major social media know too much about people’s private lives.
The law of supply and demand works perfectly and if you research some solutions like BEAM protocol offers you will notice that they paid a lot of attention to ensuring privacy. This protocol allows users to transact crypto between each other and no one can track who the sender and receiver are and what is the amount of transaction.
By the way, in this case, the team decided to go much further and create a DeFi ecosystem based on proprietary blockchain, with DAPPs, staking opportunities, atomic swaps, and more. The BeamX roadmap is packed to the brim with tools needed to build a scalable, interoperable DeFi ecosystem, including confidential stablecoins, oracles and decentralized cross-chain bridges. They also realize the value of such things as the ability of the community to govern the crypto ecosystem. More broadly it means the commitment to such initial value as decentralization.
Beam will be governed by BEAMX governance token holders. Future holders will be able to use these tokens and govern the whole ecosystem through BeamX DAO. The community will affect the future ecosystem’s development: for example, they will be able to alter plans for treasury funds expenditure and the roadmap itself through regular voting. They will create proposals on changes and vote for them right in a special DAPP embedded in the BEAM wallet.
It could be interesting for someone to start exploring BEAM’s ecosystem and become a part of DAO that will determine the way this system develops. Moreover, 1% of all tokens will be distributed to new users for free to expand the community and bring even more decentralization. As an additional incentive, users will earn tokens by staking BEAMX in their wallets. There won’t be any need to lock tokens in any pool, and users will be able to withdraw tokens at any moment, so the usual risks of staking are virtually eliminated. Staking will be available only in the BEAM wallet from October 21. And we can already see a lot of people buying BEAMX in preparation for staking – the token is listed on Binance and has already gained more than 50%.
Looking at the way crypto space is evolving you understand the strategic vision of some projects. The ability of users to participate in the governance makes the project stand out. It gives a sense of ownership, it allows you to keep your hand on the pulse. Long ago it was noticed that the product that a user had a hand in creating is much more appreciated by him and gains more loyalty.
On the business side of things, a flat structure of organization gains momentum in recent years. And the DAO concept appears to be a perfect model of new generation business where a flat structure is ensured by impartial blockchain algorithms. In the case of BEAM protocol, they went far beyond the idea of privacy and decentralization. Such platforms allow an average newcomer to fulfill any need, whether it is investments, the necessity to implement smart contracts in order to empower his business, contribute to the cryptocurrency adoption, or just desire to control his money and data.
In general, holistic ecosystems with full functionality have the biggest potential to get the loyalty of crypto adopters. It was predictable a few years ago that the protocol that will offer the most convenient and universal way to deal with crypto will dominate. Because using such platforms people can make all the actions related to crypto in one place. Especially if such projects are committed to the original blockchain values.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Bitcoinist, @Khareem Sudlow