The Role of Community Support in Cryptocurrency Adoption: Petrousus (PSUS), Dogecoin (DOGE), and Shiba Inu (SHIB) – Times Tabloid
The decentralised nature of cryptocurrency assets appeals to cryptocurrency enthusiasts and users who get into the crypto community to avoid the bureaucracy and poor service delivery that come with the centralization of financial transactions.
This means that every cryptocurrency project has to work up good use cases and solutions to real-world issues that will inspire a community following.
A cryptocurrency project is as strong as the community behind it, and as more and more cryptocurrency projects are delving into the world of DeFi, things like project governance are closer than ever to the community members.
Petrousus (PSUS), Dogecoin (DOGE), and Shiba Inu (SHIB) are cryptocurrencies that have established themselves as leading altcoin projects by improving community support and raising community benefits.
Petrousus (PSUS) is an open-source decentralised finance (DeFi) oriented smart contract protocol built on the Binance Smart Chain (BSC) that provides fast transaction speeds with minimal error.
PSUS is the official governance token of the Petrousus protocol. The token is a BEP-20 deflationary token that confers voting privileges to the holders who stake the crypto asset. Holders who stake the token are also the validators for the proof-of-stake consensus mechanism of the protocol.
This, coupled with the fact that the project is built on the Binance Smart Chain offering faster transaction speeds, lower gas fees, and more energy-efficient mining, drives the community support for the project high.
Usually, communities that rally around a project for the hype tend to fizzle out eventually, but with real-world use cases and answers to many DeFi scalability problems in the cryptocurrency market, the Petrousus project could enjoy a loyal community of smart investors.
Meme Inspired crypto projects usually enjoy community hype and rallying early in the project. Especially when real high rollers are in on the “joke”.
As a meme coin founded in 2013, DogeCoin started to amass a community following, especially in the meme community.
The governance token, DOGE, is based on Litecoin’s code, and it employs the proof-of-work consensus mechanism to validate transactions within the blockchain.
Dogecoin has also received more community loyalists, largely due to the fact that billionaire tech guru and founder, Elon Musk, is a prestigious member of the DOGE community
His involvement with the project has enabled the project to see major milestones on its roadmap, and also enjoy price surges.
In October 2022, An entertainment company and Cinema chain, AMC, announced the adoption of Dogecoin for the purchase of digital gift cards. This did a lot to push up the adoption of the DOGE.
Another marked advantage of DOGE is that it can be mined alongside Litecoin to maximise miner rewards.
The Shiba Inu (SHIB) whitepaper or “woofpaper” claims that the project is 100% community-driven. It claims decentralisation both in the aspect of economic status, and internal hierarchy.
Built on the Ethereum blockchain, Shiba Inu (SHIB) provides an inflationary and more affordable token, SHIB, to potential buyers and investors.
In the heat of the COVID-19 pandemic Vitalik Buterin, co-founder of Ethereum, made the biggest single donation of SHIB token in crypto history to India’s COVID-19 relief fund. After which, he burned about 40% of the total supply of the tokens in his possession.
This shot up the price of SHIB as community members enjoyed marked highs in the project’s history.
Built on Ethereum, the biggest DeFi protocol in the crypto community, the Shiba Inu team seeks to also provide DeFi solutions through staking, farming, decentralised exchange, and more features that offer scalability across Ethereum-backed chains.
Community support is a crucial part of cryptocurrency development as it provides users with opportunities to interact with other people who share their interests and enthusiasm for cryptocurrencies. The PSUS, SHIB and DOGE tokens are aware of this and are ready to revolutionise the market.
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August 17, 2022 at 03:27PM