Utility driven projects vs social-driven projects
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Over the years, we have witnessed diverse crypto-based projects launched with different use cases, a unique observation here is all these projects evolved to tackle different problem facing blockchain technology generally scalability has been the center of attention most projects focus on while some major on improving anonymity by increasing privacy and security. today a lot of projects have diverted their attention from executing/improving security and have focused on social-driven utility which is solely accumulation and generating profit from pumping and dumping of token projects.
Utility-based projects
The likes of Cardano (ADA) a blockchain protocol that has fully adopted the proof of stake consensus aims to be a global change maker attracting visionaries and investors across the globe by improving transparency and accountability among its user Is a typical utility-driven project aside long term income generating driven Cardano aims to integrate improved smart contract project that will attract investors to see the essential need why the blockchain project will become a multi-million dollar projects in future.
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change.
General utility-driven blockchain project follows a unique roadmap and executes all its programs sequentially, examples of such blockchain project includes Ethereum blockchain, Cosmos blockchain, Solana blockchain to mention a few all these projects aims to come up with solutions to improve the blockchain technology.
Social driven projects
These projects focus mainly on shilling of tokens the likes of Dogecoin known as internet meme coin an open-source digital currency are profit-driven tokens these projects have little impact on blockchain technology they are used for basic daily transactions with little use case for its users.
Multiple meme tokens have been launched which has driven lots of traffic attracting investors to basically buy/pump these tokens solely to generate profit and dump such projects in the long run.
The extremely high return in these meme projects has resulted in unrealistic expectations in the crypto industry as these projects provide no real use case for users with little or no provided utility use case.
Greetings @mccoy02 reading your post I do not stop thinking about how fundamental is the greed in the crypto world, the same product of the same greed is often manipulated in favor of those who have more. It is not that I dislike it, since by making good readings we can capitalize on the market based on what many call volatility, which is nothing more than the speculation that we make on the asset. Greetings
Hi thanks appreciate your feedback when you mention greed i quite agree since most meme tokens are created for such motive just to lure the weak investors and further make a quick dump on them lossing their assets with little returns.
Greetings @mccoy02, there are projects within the blockchain that are not safe as is the case of some memes that have arisen, so it is recommended to contribute in safe projects and really have solids.
I agree with you, although meme coins are mostly considered as shill coins some have good utility use cases thanks for sharing.
Unfortunately, a good part of the blockchain trade is sustained by greed, there are many investors who yearn to obtain exaggerated returns regardless of whether the project collaborates or not in terms of the growth of the cryptographic environment, until this type of "memecoins" is profitable Unfortunately, they will continue to invest and speculate with them, I believe that as people continue to learn about the blockchain, they will begin to bet on more serious projects that provide much more added value.
Very good post, greetings.
Hi, it's quite interesting to see how investors have diverted their attention and focused on these meme coins that provide little solution to blockchain technology this means people are more concerned about making profit and not project provided solutions.
Utility will win at the end, but hype marketing is also a genuis strategy. That being said, I'll always chose utility over hypes.
Utility is always a driving force in the crypto technology thanks for your time.