Weekly Review
‘If you build it, they will come…’ is the beginning of all community hopes about developing something together with others. As the saying goes, however, from the context of the movie Field of Dreams from the late 80s, it symbolizes daring efforts to manifest dreams, in the face of sometimes more narrow, stark reality. Ray Kinsella, played by Kevin Costner, begins having visions in the cornfields on his Iowa farm. He hears a mysterious voice that encourages him to build a baseball diamond in the middle of a cornfield. Why would a farmer ever do that? Aren’t people who hear voices crazy?
The pronounced absurdity of turning a vital economic vehicle for family sustenance, into a playground for the imagination, becomes the arc of the drama. This is the vital “short circuit” of mundane processes being upsurged by inspirational development towards a higher purpose. Ray builds the baseball field despite almost everyone around him warning that it is a waste of time and valuable resources, and a terrible risk. Yet he was right in following the voice and staying true to his dream, for not too long afterwards, they did come, in the form of the ghosts of Joe Jackson and the rest of his team, the notorious “Eight Men Out.” And then follows a cathartic reexamination of the past with other fantastic elements weaving in and out of the storyline.
Field of Dreams is fantasy, but like all good fiction, it has a truth to convey. The building moments before the crowd arrives are sometimes full of doubt. One is maybe attempting something alone, or before its time, or unconventional etc, which requires certain intrepidity and determination to follow through and manifest. But sincere work put in this direction, despite hardship, can result in the fulfillment of dreams and in ‘their’ appearance, that is, the magic network effect of they. ‘They’ conjures that invisible sense of being surrounded by fellow minds, emergent when the design is executed, and the model is seen to work. Sometimes we are actually surrounded by those minds, and sometimes, it is just a conceptual foothold that facilitates all sorts of creative developments. This is the “network effect” of community.
That is where we are as an organization at Community DAO, with projects on the front end of innovation, in multiple sectors, early yet, still in that cornfield of possibility. It’s time to build the baseball field here at CommDAO, except in our case, it is a Tower that will embody in its very structure, one of 2 primary governance bodies of this Decentralized Autonomous Organization.
At Alterverse, we learned that skyscraper designs in Sky City have been narrowed to several finalists…
These are fantastic designs in what I would describe as an art deco/grandiose/early 20th metro style and aesthetic. They are very serious about upholding solid design themes and high standards at Alterverse. Scott Kinney, Stefan Martiniere, and the entire team are creating an exquisite vision in Sky City and we at CommDAO want to help them distribute that vision to the world, as their list of partners grows prior to launching this Fall.
Stick with us as we work out the details of how you can gain ownership and access to this building, as well as governance within CommDAO, by purchasing NFTs on an exchange.
This week Community DAO had an excellent interview with key players from Alterverse, James Wolf, Jeff Lippert, and Momofomo about “Virtual Property Management.” It’s really a fun and lively conversation and we cover many fascinating topics regarding CommDAO and Alterverse development. Spend an hour listening in order to catch up!
Apparently, we were the first official skyscraper partner in the Epicenter central hub halosphere! In time, we will enjoy recalling the early stages of this collaboration and the synchronicity of essentially manifesting at the same time publicly with a top notch metaverse ecosystem, with a concept development stretching back over 15 years.
For those interested in the last incarnation of Alterverse on the gaming scene, play Disruption. Also, check this 2019 interview with Alterverse founder, Scott Kinney, on the back story of Alterverse development prior to their launch on Enjin.
Sky City represents a new incarnation of the Alterverse system, this time built within Unreal Engine 5, the most complex graphics platform in the entire gaming/virtual world industry to date, available for free for anyone to download and utilize.
Apart from these developments, we also continue to push more outreach efforts to incentivize our marketing squad. For us, this means offering contests for a variety of memes or ads or design pieces and then rewarding winners with Ravencoin ($RVN) and our native $C0MM.
See here a message from our Marketing Triumvir, Danoskie, placed in our Discord…
This week we focussed on participating in the call for “GM” art submissions to:
We have gotten some interesting entries so far and you can check the Ambassador Report section to see our winners for this week. Next week, we may continue with the GM focus or we may issue a new topic. They will periodically rotate.
Part of our intent here is also to create a valuable test case for allocating tokens from the Ravencoin blockchain internationally. Specifically, we would like to continue to develop a larger community of participation across the world. Currently, we get the most action on our marketing front efforts from Africa, in Nigeria and Ghana. We believe there are many thousands of people there looking to collaborate, and willing to work hard. By creating contests and different themes for freelance marketers to participate in and win payouts for, we are spreading the valuable Ravencoin blockchain further worldwide, thus unlocking a massive, hitherto untapped labor pool that could be applied to any protocol. Because Ravencoin does not have a marketing department, DAO efforts to structure ways to crowdfund or crowdwork on various ideas will, in time, be viewed as a valuable utility.
Community DAO will be a perpetual protocol generator with a worldwide scope for any conceivable project.
Over and Out,
Dow Dao
Stats
Twitter Followers: 1,150
Discord Members: 436
Alina’s Alignment
Using Tokenomics to Incentivize Contributors in DAOs
One of the biggest challenges in decentralized autonomous organizations (DAOs) is figuring out how to align individual interests with those of the group. Unlike the conventional corporation, no formal legal entity is formed to create a rigid framework for assigning control. Participants have complete freedom to withdraw at their own discretion and are typically motivated by the expectation of future financial gain.
The nature of DAOs and the challenge of alignment
DAOs are becoming increasingly popular as a way of organizing and governing cooperation in the digital age. Digital technology can enable us to create more effective and efficient forms of governance than traditional hierarchical models.
The promise of DAOs is that they will enable us to self-organize in ways that make sense for each individual participant. In this way, they represent an alternative to top-down hierarchies, which are often seen as inefficient, outdated, and undemocratic.
However, despite having many advantages over traditional models, DAOs also face challenges when it comes to incentivizing contributors.
Incentives may not align when it comes to voting rights and token ownership. Incentives may not be clear to all participants. What happens when there’s a fork in the road? Will everyone agree on which path to take? If not, how will they decide? How do we incentivize people to take one path over another? How do we communicate these incentives clearly to all participants?
How tokenomics works
Tokenomics is a mechanism for aligning incentives in a crypto-economic system. It incentivizes desirable behaviors by participants in an economy.
Incentives are the reason why people do what they do. Incentives are also the primary reason why people work together on projects. Incentive-aligned systems can be effective in motivating people to contribute towards achieving common goals and objectives.
In order to understand how tokenomics works, it’s important to first look at what makes DAOs unique. Unlike traditional corporations, DAOs are not controlled by any single entity or individual. Instead, they rely on community members to offer their input and vote on decisions.
As part of this process, contributors are rewarded with tokens based on their contribution to the organization. This incentivizes them to participate in projects they believe in and aligns their interests with those of the community at large.
Using a token to incentivize contributors has several advantages:
Token holders can earn more tokens by contributing more value to the network (e.g., creating content, curating content, reviewing content). As they earn more tokens, they also have a greater stake in the network’s future success, which increases their incentive to contribute even more value. This creates a virtuous circle that helps grow the network and increase its value.
Tokenization also allows for more flexibility in how you reward contributors. For example, instead of paying someone $100 per hour for consulting services, you could pay them $100 worth of tokens. If those tokens increase in value over time, then it becomes easier to attract talent and buy services from outside contractors without worrying about price fluctuations or currency exchange rates.
Examples of how tokenomics can align interests in DAOs
Tokenomics can be used in several ways in DAOs:
To raise money for the project. This is the most common use case of tokenomics. A new startup or project creates a digital asset and sells it to investors who are interested in buying a stake in the future profitability of the project.
To reward people for contributing to the project. Tokens can be issued to contributors based on their contribution, which could be anything from developing code, writing documentation, and performing marketing activities.
To provide incentives for participation and collaboration. This could be done through a reward system, where participants are rewarded with tokens based on their contributions, or through a voting or governance system that allows token holders to vote on proposals.
To align interests between contributors. The more valuable the network becomes, the more valuable it will become for everyone involved. Therefore, if the value is created within a network or economy, it will benefit both parties — contributors and holders alike — as they both have an interest in seeing growth occur within these networks or economies.
To create a token that can be traded on exchanges. A successful example of this is Ethereum, which created an ecosystem where developers could use its platform to build decentralized applications on top of it. Developers could then sell these applications or tokens to investors, who could trade them on exchanges. In this case, the application serves as the DAO’s governance system and incentivizes contributors with its utility value.
Conclusion
Tokenomics can play an important role in aligning contributors’ interests with those of the DAO. Tokenomics allows for a more inclusive DAO, meaning the incentives of those involved in it are aligned with those driving it forward.
Danoskie’s Developments
Metaverse: Advantages and Disadvantages
The world has evolved from its primitiveness to analog and now digital. Life on the planet has continued to progress from one level of betterment to the next, creating more opportunities for its inhabitants to live and enjoy the modernized world.
As it is known, every good thing comes with the opposite in order to clearly identify the advantages; same with the impact.
Our ability to explore planet earth has both negative and positive effects on it, leading back and forth of each other's inventions.
Today, everyone is glamouring web3 which offers great benefits to many users through its virtual nature. In web3, everything can be done and all who thrive on ecosystems generated by one or more algorithms have the abilities which the real world denied them of. Is that not magical?
What's crypto Metaverse?
A crypto metaverse is simply an immersive virtual world having social and financial potential that incorporates blockchain technology and cryptocurrency. Through the use of blockchain technology, it enables the users to have a share of the broad cryptocurrency economy whereby, virtual items can be exchanged for real cash or for pleasure.
With these potentials, Metaverse has its own economy confined within its ecosystem which the users who have access to it can make purchases, sales, and swap digital real estate, items such as avatar accessories, codes, and many more.
Metaverse is a shared, immersive virtual world in which players (the users), usually represented by their preferred avatars, can interact with each other, develop and share experiences, and create in-world objects and landscapes such as what we have in the Alterverse Metaverse crypto project.
Creators and developers of Metaverse crypto all aimed at connecting the virtual world to the minds of many and in return, proving that they can change the old rule of thumb where world leaders have influence over everything that breathes on the surface of the earth. The Metaverse crypto developers have the objectives of providing:
Decentralization of its economy
User governance
Provable provenance
Real-world economic value
There are many advantages that the Metaverse crypto has thrown to the world. These advantages made it clear that it has more to offer to the world.
An example was the case of social distancing which was severely observed by the world in 2020 due to the COVID-19 pandemic. It eliminated the fear and trauma caused by the pandemic whereby, friends and families were enabled to hang out with each other.
Things are different in the metaverse with social interactions and events being way more immersive, allowing users to regain a personal connection (though in its virtual state) with their friends and loved ones. It extended to them hosting and having meetings, parties, and concerts in the metaverse. An example was WWE where viewers were allowed to occupy seats through their webcams and microphones.
The Metaverse crypto has given birth to new business opportunities. Achieving customer demand does not just make big returns to the business owners, it strengthens the brand and lessens the floc of competitors in the saturated market.
Metaverse crypto business gave the customers the ability to widely see the product instead of just looking at it through the tiny screen, it also allowed them to feel the product. This means that users can see the product, hold it, and feel it with the help of haptic technology (experience of touch through vibration, forces, and motion). Marketers on the other hand can easily market their products without falsifying the contents and packages.
In general, Metaverse improved the utility of cryptocurrency, same as the virtual gaming world, leading to the exploration of real-life events being displayed in its virtual state.
Just as the saying goes, "Nothing good comes without a price", there exist some disadvantages of Metaverse crypto projects.
Cybercrime which existed before the creation of Metaverse crypto has easily found its way around the ecosystem. It's known that the government and the malware set up to prevent these criminals from penetrating don't have human brain cells which can adapt to different changes at every possible angle.
As a young project which has less ability to knock out criminals, this could be a disadvantage, making it extremely vulnerable to all sorts of illegal activities, which vary from fraud, money laundering, child exploitation, illegal goods, services trafficking, to cyberattacks. These and many more made Metaverse a fertile land for these criminals to thrive easily.
Our culture is our tradition and must not be messed with. In Metaverse, any developer can decide to amend cultures and traditions to his or her preferred people's way of life. Another disadvantage of culture is when developers fuse everything to adopt his/her culture as standard and superior over others. It's boring by the way.
The fact that Metaverse crypto gives users or players the ability to perform better than their human form, they are likely to be addicted to its features thereby making them lose connection to the physical world. This will certainly lead to mental disorders, the same as harboring harmful radiated elements in the body. Other sources of mental disorders could come from virtual bullying, losses, and limitations to virtual resources.
Though there exist some considerable disadvantages, the advantages still overweight the disadvantages. Amidst it all, we hope that there will be more ways to address the disadvantages of the Metaverse in order to develop it in ways that will suit all kinds of human thoughts and imaginations.
Effective Earning on the Crypto Space
Cryptocurrency as they say runs in blocks and makes use of different algorithms. It is for everyone so long as the user understands the basics and can find their way around the blocks/blockchain. This article is focused on a few ways you can earn some fragments or portion(s) of cryptocurrency(ies) in the blockchain or crypto space.
We have:
Cloud mining
Affiliate programs
Buy and HODL (Investing)
Work for a cryptocurrency company/community
Staking and lending
Cloud Mining
Cloud mining is a mechanism to mine a cryptocurrency, such as Bitcoin, using rented cloud computing power and without having to install and directly run the hardware and related software. Cloud mining firms allow people to open an account and remotely participate in the process of cryptocurrency mining for a basic cost. This makes mining accessible to a wider number of people across the world. Since this form of mining is done via cloud, it reduces issues such as maintenance of equipment or direct energy costs.
A few cloud mining companies include:
StormGain, ECOS, Hashing24, BeMine and Scryptcube
How Mining Works
Mining for cryptocurrencies such as Bitcoin, whether via the cloud or locally, does not actually involve any mining but involves processes that generate new cryptocurrency tokens that are awarded to miners. The mining operation serves a much more crucial purpose for maintaining the security of a distributed ledger such as a blockchain. Bitcoin mining is performed by high-powered computers that solve complex computational math problems.
When cryptocurrency miners add a new block of transactions to the blockchain, part of their job is to verify that those transactions are accurate. In particular, Bitcoin miners make sure that Bitcoin is not being duplicated, a unique quirk of digital currencies called “double spend.” Here, the miners use their computational power to solve cryptographic puzzles that prevent double spend in a decentralized manner.
ADVANTAGES AND DISADVANTAGES
There are several advantages of cloud mining, such as:
- Less investment in hardware and recurring costs
- No technical knowledge required
There are also disadvantages such as:
- Industry scams which have proliferated rapidly with the popularity of cryptocurrencies.
- The prospect of diminishing profits. Altcoins especially are vulnerable to demand, and a reduction in their hash power could lead to fewer profits for miners.
- Cloud mining models also promote the centralization of cryptocurrencies, otherwise a decentralized ecosystem.
Affiliate Programs (Get paid when you refer a friend)
An affiliate program involves affiliate marketing which is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.
A crypto affiliate network suits businesses that want to find Bitcoin affiliate programs that fit their websites. The crypto affiliate program or a referral program, on the other hand, offers a way to earn money by sharing an affiliate link and encouraging people to visit a website or join a platform.
Affiliate programs are free to join. Once you create an account, you’ll receive a special unique link that you can share on social media, websites, blogs, and forums. Whenever a person signs up or makes a purchase using your link, you will receive a commission.
Some top crypto and affiliate programs include but not limited to:
Paxful, CoinSmart, Paybis, Eightcap, StormGain, ChangeNow, Coinrule, Crypto.com, Coinbase, Binance, Gemini, Bitfinex, BitFlyer, BitMex, Bitstamp, BitMart, FTX, etc.
ADVANTAGES AND DISADVANTAGES
Advantages
- The biggest advantage is that it’s quick to start and begin earning money.
- No Special Expertise
- Limited Investment
- Flexibility & Convenience
Disadvantages
- Quantity Approach
- No Control
Buy and HODL (investing)
Frank Gogol stated in his article on Stilt that this is the most common way of earning money from cryptocurrencies. Most investors buy coins such as Bitcoin, Litecoin, Ethereum, Ripple, and more and wait until their value rises. Once their market prices rise, they sell at a profit. Investing is a long-term strategy of buying and holding crypto assets for some time. Crypto assets are generally well suited to a buy-and-hold strategy. They are extremely volatile in the short term but have tremendous long-term potential for growth.
This investing strategy requires the trader to identify more stable and volatile assets that can shift in value rapidly which would result in regular profits. Assets such as Bitcoin and Ethereum have been known to maintain regular price fluctuations; this can be considered a safe investment in this regard. According to the CFI team, due to their highly volatile nature, cryptocurrencies provide great opportunities for traders to build up long and short positions frequently. However, “hodling” can provide more safety to investors, as investors are not exposed to short-term volatility and can avoid the risk of buying high but selling low.
ADVANTAGES AND DISADVANTAGES
Due to their highly volatile nature, cryptocurrencies provide great opportunities for traders to build up long and short positions frequently. However, “hodling” can provide more safety to investors, as investors are not exposed to short-term volatility and can avoid the risk of buying high but selling low(corporate finance institute).
Work for a Cryptocurrency Company/Community
As crypto has expanded into the mainstream consciousness, so has the opportunity to work in the crypto industry. Working for any of the hundreds of cryptocurrencies themselves, or for other companies or industries looking to take advantage of the crypto boom/ communities in the crypto space would earn you tokens of these companies. In addition to developers, crypto companies seek to hire other professions of a growing business, including marketing, human resources, cyber security, graphics designer, social media manager, etc.
According to a recent Monster analysis, the cryptocurrency job market is on the rise. Using data provided by the TalentNeuron tool from insights and technology company CEB, we found that listings for jobs mentioning either “cryptocurrency,” “Bitcoin,” or “blockchain” have risen 194% year-over-year, from 2018 to 2017.
Some examples of platforms that pay in digital assets for services rendered include:
Coinality, jobsforBitcoin, Coin worker, The Community Dao, Hive blockchain, and Steem blockchain.
Staking and Lending
The process of crypto staking is similar to locking your assets up in the bank and earning interest—similar to a certificate of deposit (CD). It is also a way of validating crypto transactions. If one is staking, you own coins but you don’t spend them rather you “lock up” your crypto holdings in exchange for rewards or interest from the platform on which you’ve staked the assets.
Many exchanges and platforms offer staking, with both centralized and decentralized options. You can even stake crypto from some hardware wallets. The lowest risk option for staking would be to stake stablecoins. When you stake stablecoins, you eliminate most of the risk associated with the price fluctuations of cryptocurrency. Also, if possible, avoid lockup periods when staking.
The Proof of Stake algorithm chooses transaction validators based on the number of coins you have committed to stake. This makes it much more energy-efficient than crypto mining and does not require you to own expensive hardware.
You can also choose to lend coins to other investors and generate interest on that loan. Many platforms facilitate crypto lending.
ADVANTAGES AND DISADVANTAGES
Advantages
- It's cheap
- Staking implies asset growth
Disadvantages
- The risk of centralization is very high when the bulk of assets are in large players' hands.
-Crypto prices are volatile and can drop quickly. If your staked assets suffer a large price drop, that could outweigh any interest you earn on them. (Wikipedia)
I hope this would be of great help to a person with an interest in the cryptocurrency space. Thank you for your time.
Non-Fungible Fungi 🍄🍄🍄
How to create a killer web3 resume
In this article/ guide we will cover how to create a killer web3 resume. Although in web3 your resume isn’t as important as it is in the traditional world, it’s still valuable to have a resume that highlights what you’ve done.
In this article, we will be creating a resume for an imaginary person Kyle using Canva.
In web3, the most important thing is: what you’ve done and what can you do. The clearer you can answer those two questions, the more likely it is that your resume will get a positive look and you being considered.
About Me
The about me section should be short and sweet. State what you do and how long you’ve been doing it (in and outside of the web3 space).
Adding your image is optional.
Notable achievements
At the forefront of Kyles's resume is ‘What has he done?’ It fully details the most impressive achievements Kyle has done in the past, with Key Performance Indicators (KPIs).
‘Ran community at VoiceDAO
I worked as a community manager for VoiceDAO taking their community from about 50 messages a day to no less than a thousand in about 3 months’
There are 3 important things in this text:
I worked as a Community Manager for VoiceDAO: States clearly where you worked and your exact role, if you were the 3rd community manager, state that.
‘taking their community from about 50 messages a day to no less than a thousand’: This right here is the most important part of it all, saying exactly what you achieved. This shows an employer that you know how to get results.
‘in about 3 months’: This final section shows time. It tells the employer you clearly know your stuff.
Now in the ‘Best Portfolio Work’ Section, we back the above claim with an image of the number of messages chart within the stated time period. Again shows how transparent you are.
Web3 Certificates
Unless you went to Harvard, Yale, or a world-renowned school, the school you went to isn’t important in your web3 resume. Instead, showcase the Web3-related certificates you have earned in the space.
For example, Kyle has two certificates: one - a ‘Web3 Community manager NFT certificate’ and another - a ‘Discord Moderator academy certificate’. Both are related to the role for which he is applying.
Miscellaneous
In the miscellaneous category, you can add details relating specifically to your role, ex., reference contacts, other work outside web3 you’ve done, the school you went to, etc.
You can create your own resume using Canva and begin applying to web3 jobs.
Ambassador Report
It's only a joke if we don't succeed in letting the whole wide world know about The Community DAO. Our objectives will not change because of the bears taking over the market. We're the community DAO Ambassadors and will perform our tasks professionally.
Leaderboard/Ranking
Rank Twitter username
Dani_BeeHive
Alochinonye
Yhuddee111
Top Meme of the Week (receives 100 RVN and 1000 C0MM):
@Dani_Beehive - 13 likes WINNER!!!
@WinneXia - 12 likes
@Yhuddie111 - 7 likes
@banacubana - 3 likes
This week we also started a special focus design contest. Every week or two the focus will change. Our first test case is in collaboration with the Ravencoin drive to attract artwork based on the “GM” theme. Each pick here will win 50 RVN and 500 C0MM. Winning artists are also encouraged to pick their personal favorite GM and register it with Sunnie and Sir Crone to have it minted to the Ravencoin blockchain here: https://wagminft.net/new-artist-onboarding/
Top Foundation Picks for GMs entered this week:
@GaiusBass7ani_BeeHive
@Dani_BeeHive
Top Marketing Picks:
Kirton Call
[From Welcome To The Contradiction Economy - By Geoff Colvin - Fortune 500 - June/July 2022]
An often overlooked upside of tumult is that it offers significant opportunities, and not just in the cliched sense that every problem is an opportunity. Turbulent times are when the competitive order within industries shifts the most. It makes sense. When times are good and nearly everyone is doing well, it’s hard for laggards to get ahead of leaders and hard for leaders to widen their leads significantly. But nasty conditions bring out performance differences weren’t apparent when the sun was shining. This isn’t just theory. McKinsey research has shown that tough times are when industry leaders and laggards are most likely to change places.
Today’s mix of economic factors is ideal for producing big winners and big losers because it’s so contradictory and puzzling. The conundrums partly reflect sudden dissonance between the recent past and the starkly different present. Consider that Coinbase bounded into the 500 for the first time this year based on its knockout 2021 performance, as crypto trading boomed…But its stock has recently plunged even more dramatically than Bitcoin; as of late May, Coinbase had lost 73% of its value in 2022…
Leaders will define reality and give hope. In unsettled times, workers are desperate for information about their company’s outlook. The best leaders give it to them straight. They then put that reality into a larger context, explaining that unprecedented challenges are normal, they’re interesting, and the organization can learn from them, so brighter days lie ahead. Research from the U.S. military shows that people who receive that message perform far better than those who don’t.
It would be foolish to predict whether 2022 will be as rewarding to the Fortune 500 as 2021 was, but it will likely be more instructive. Odds are strong we’ll see new dominant players and spectacular flameouts. Most important, we’ll learn by identifying who was good, who was lucky, who just hunkered down, and who was brave enough to seize opportunities that others missed.
—
[From 13 Assets to Tokenize On the Blockchain - by JC Keen - June 28, 2022]
Few realize that almost everything of value will eventually be tokenized. That is because, thanks to blockchain technology, asset tokenization can be efficient, secure, it can provide for peer to peer transactions, fractional ownership, and it provides the tools to democratize all markets. This leads to the question of what sorts of assets should one tokenize on the blockchain?
…Bitcoin has revolutionized how people view money and it has led to an entirely new market - cryptocurrencies. Despite this, I am convinced that the more revolutionary part about this invention is its underlying technology, that is blockchain technology.
A blockchain is a distributed ledger that is shared among computer networks for maintaining a secure and decentralized record of transactions. Blockchain technology provides for trust in the ledger without the need for a third party.
Digital assets, such as contracts, images, music, etc can be added to a blockchain and can be transferred and/or traded similarly to how cryptocurrencies are transferred and traded. This opens up an entirely new universe for digital market for assets of all kinds, especially when you consider all sorts of securities can and eventually will trade on the blockchain.
The digital assets market will account for trillions, if not quadrillions, of dollars.
Unfortunately the Bitcoin blockchain wasn’t designed to handle assets, thus tokenizing assets on this blockchain comes with significant challenges. Similarly, Ethereum and other blockchains can be adapted to handling assets, but because these protocols weren’t designed for this purpose they can lead to significant inefficiencies, high costs, and security challenges.
A few blockchains have been designed with asset tokenization in mind…Chief among them is Ravencoin, which is a fork of Bitcoin and was designed specifically for the purpose of asset tokenization, including the handling of digital securities (i.e. stocks)...
What a great article. I've already learnt alot from perusing through its various segments. Keep it up guys.