Are community-led cryptocurrencies like TRON, Ethereum , and Calyx paving the way for the future?
While the market is down one cryptocurrency is still storming up the ranks and determinedly increasing its value - TRON (TRX). This success led me to research what sets TRON apart from other cryptocurrencies and how other coins can aspire to achieve the same results.
TRON (TRX), Ethereum (the second highest-ranking coin next to Bitcoin), and new promising presale Calyx (CLX) all have one thing in common: they are community-led coins promising to give the power to their users.
‘Decentralise the web’ - TRON (TRX)
When you click on TRON’s website, the tagline ‘decentralise the web’ is the first thing you see. By being a DAO (decentralised autonomous organisation) users are able to impact and influence decision making and investments, building an online community. DAO’s are transparent, verifiable, and open, which makes them an appealing platform compared to the internally controlled system of traditional organisations.
Decentralising cryptocurrency makes all transactions and decisions completely transparent and considering the fear of scams in cryptocurrency, this is a very desirable feature. This complete transparency also encourages the collaborative nature of the platform, making engagement easier.
TRON (TRX) specifically is very passionate about being decentralised, stating that it ‘is dedicated to accelerating the decentralization of the Internet via blockchain technology and decentralized applications (DApps)’. Its website also states that it has established ‘in-depth cooperation with a number of world-class wallets’. It seems to me that its decentralisation is an fundemental part of its ability to corporate and collaborate with its investors. Is this the key to TRON’s current success?
How has a community focus helped Ethereum (ETH)?
Despite the current dip in the market, Ethereum (ETH) remains stoically at the top of the rankings, just behind Bitcoin. Unsurprisingly, Ethereum credits decentralisation with a majority of its success. By placing the power of decision-making into the hands of its users Ethereum creates an online community with investors feeling equally empowered to vote and influence the platform.
On Ethereum’s website, they also stipulate that decentralised, community-led coins are the safest option to ‘collaborate with strangers’ and donate funds to specific charities. These two facts increase the collaborative community nature of the coin and encourage users to remain loyal.
How are presale coins utilising community-led crypto success?
Presale coin Calyx (CLX) calls itself a ‘community-driven and permissionless liquidity protocol’. Putting this clearly at the top of the website highlights how community spirit is essential to this new coin. Delving into this goal, Calyx describes how community members will be empowered by ‘fair representation on agendas that are productive for the entire ecosystem’. This outlines how equal community voting will be at the core of the coin.
Calyx aims to transform community-led cryptocurrency by incorporating CalyxDAO into its integral structure. This coin is definitely one to watch out for in the future, as it hopefully reaches the heights of other community-focussed coins such as Ethereum and TRON.
Calyx Token (CLX)