How to discover the deep side (2)
In this part, we will talk about other factors that influence how cryptocurrencies are valued.
Decentralized autonomous organizations (DAOs)
Many cryptocurrency projects are controlled by decentralized organizations. Most of these organizations have a forum that anyone can join.
Through this forum, members discuss all matters related to the cryptocurrency project.
For example, any
potential partnership, expenses, appointments of some employees,
problems facing the organization, future plans, and solving various
problems are discussed.
These discussions also continue on
Discord. Anyone can join Discord easily.
By joining the forum, you can easily judge the strength and goodness of the existing administration. And knowledge about the problems they face, the proposed solutions, and their future plans.
You can also share your thoughts with the members of the organization.
But there is an important point: there are indeed decentralized organizations that are managed properly, but there are also many decentralized organizations that are not managed properly.
In some organizations you do not find any real
interaction or participation, and some of them are controlled in a
central way, and they delete any comment or any post that contradicts
what they do.
Once you enter the decentralization
organization forum, you can judge whether it is really
decentralized.
Also, you can judge the quality of management and whether this project has a future or not.
By joining the organization, you can learn a lot about the cryptocurrency project and also get the latest news about it.
Because all events are mostly discussed on the forum, Always look for a decentralized cryptocurrency organization forum.
Through it, you can easily judge whether it is a good investment or not.
Will you be able to judge whether it is a failed project or a real one?
You will know if there are really serious discussions, ideas, and real management. You can also connect with the team and be part of its success.
Code and smart contracts
Many cryptocurrency projects are open source, and you can easily check out the source code on GitHub.
If you have programming experience and have experience with open source code, you can examine the project code, inspect the code, and also examine the smart contracts associated with it. To be realistic, even if you are an excellent programmer, you will not be able to fully understand the code in a short time, but at least you can judge the project. And knowing how many people are working on it.
Is the code well developed?
What is the programming language used?
Are there many volunteers?
Are smart contracts written well and without problems?
Is the code developed regularly?
The answers to all these questions give you an idea of the strength and quality of the cryptocurrency project.
You evaluate the project deeply and on strong foundations.
To be continued
