As the cryptocurrency culture and community enthuasim continues to evolve with each passing year, there is one constant theme amongst them all – and that is you – the individual that makes up the community. It is for this reason we wanted to take the time and compile a list of the top 13 communities to partake in should you be interested in getting more active and engaged within the blockchain era.
One of the laws that rule the crypto space is Metcalfe’s Law, which has been used repeatedly to measure the value of a network. The law states that a network’s value increases in direct proportion to the number of participants in that network. Experts in crypto space apply the same law to calculate the value of a cryptocurrency and to predict when to get out.
To illustrate this, think of only two people owning mobile phones in the whole world. Then they can only call each other. If more people acquire mobile phones, then there would be more people to call thereby increasing the value of the network.
In the crypto space, the value of a network converts directly into its economic value. This explains why it’s important to always analyze a cryptocurrency or an ICO to determine the community of supporters that backs it.
How To Assess The Best Community Of Supporters
In the digital era, much of community support comes from the social media. This refers to followers or members of a network on Telegram, Discord, or Slack groups. The following criteria could help users identify a good community with reference to a particular digital currency.
- Engagement: The community participates in productive activities instead of staying idle and waiting for handouts.
- Sincerity: The community is concerned about the values of the project. They should show this by their actions.
- Presence: This is demonstrated by people always chatting and discussing in the forums
- Motivation: This means the project is committed to realizing its values and not just in making money.
- Relevance: You can know this when the discussions are about real responsibilities of the project.
With this critical factors in mind, here are 13 digital currencies with the most supportive community supporters behind them that we could find. These are not in any particular order as we will leave that up to the culture and community to ultimately let that decide to see where the chips fall.
No list of top cryptocurrency cheerleadering communities would be complete without the original pioneering blockchain asset Bitcoin. Thankfully Bitcoin's loyal following remains one of the biggest and best networks to be apart of with a strong community of near die-hard maximalist supporters, both in quality and in quantity. Bitcoin still harbors countless experienced, highly skilled crypto influencers. Word goes round that Satoshi, whoever he or she or they is, still holds a million Bitcoin that is not released into the crypto space.
This contrast deeply with many of the newer cryptocurrencies out there, in which creators simply focus on making money and keep much keep much of it to themselves.
Initially branded the joke currency, Dogecoin got its name from the popular Doge meme. While it has experienced some turbulent times, Dogecoin displayed and continues to show that community is an important component when it comes to establishing value, regardless of what brings together that community.
Dogecoin seemingly boasts one of the highest levels of community spirit in the crypto space. Initially, no one thought it would lead to some gains. Therefore, the community started by just freely tossing the coins around. Eventually it turned out that the initiative supported the value more than they could imagine.
Members of the Dogecoin community have often engaged in projects such as sponsoring a Doge-themed NASCAR. They have also thought of sending an actual Dogecoin to the moon—literally. The Dogecoin community previously donated to charity, in which it sponsored the construction of wells to provide clean and safe drinking water in Kenya. These activities increase community participation and make it fun for new members to be part of the platform. This has made the cryptocurrency acquire a rather unlikely position among the mainstream digital assets.
Save for scalability issues, the Ethereum platform is flexible and capable of achieving many objectives. This makes it a preferred choice for developers. Since it came into the limelight at a time when cryptocurrency was becoming popular, Ethereum established strong networks with notable investors who continue to fund its related projects to date who all rallied around the ‘smart contracts‘ movement powered by crypto celebrity Vitalik Buterin.
In the decentralization scene, Ethereum could be likened to Bitcoin because it does what Bitcoin did for revolutionaries and liberals. For that reason, it attracts a lot of excitement. According to one developer, Ethereum network had thirty times more developers compared to the next blockchain project. This could sound a bit more exaggerated, but not far from the mark.
Additionally, Ethereum attracts a huge following due to its Ethereum Community Fund, which is a brainchild of startups working with the network. It funds promising projects that seek to establish infrastructure on the Ethereum network.
Hate it or love it, dark web market is huge and profitable. In fact, it’s true that a lot of legislation and regulations out there just don’t make sense. The worldwide black market operates trillions of dollars and virtual currency has made digital business in contraband products even easier. This is the most lucrative, established, and well-documented use case of digital currency. Here is where Monero comes into play. Many dark web markets pick Monero for the same reason.
Monero is a decentralized project and preferred within the revolutionary cycles. If you’re off the radar, Monero originally participated in bringing Bitcoin to the mainstream. The crypto space emphasizes on decentralization and inclusion and Monero was among the first digital currencies to utilize the “ASIC-proof” strategy. This was to ensure that mining could become open to ordinary people and not just confined to a few developers.
Substratum aims at decentralizing the internet. Through this goal, the platform has earned a huge number of followers. Substratum focuses on community as part of its fundamental vision. Instead of using centralized servers, Substratum aims at transforming the monopoly that has invaded the internet industry for ages. Besides, the ongoing conversation about “net neutrality” gave the platform a big boost, leading to a strong and supportive community.
Bytecoin is one of the pioneer privacy coins, which has existed since before crypto became well-known. The cryptocurrency has led to the creation some of the successful virtual currencies around, through its forks. This confirms its popularity. The community can therefore support the platform’s cause with confidence. In addition, many newcomers to the Bytecoin platform speak of the friendliness and support they get from the core members. This shows the project is sincere about realizing its core objectives.
Waves platform (WAVES)
Waves seeks to revolutionize the fields of crowdfunding and token issuance. It joins the list of platforms that focus on making the processes crowdfunding and token issuance affordable to the masses. Waves has a huge and passionate following and enjoys excellent support that exists between the developers and the community.
Additionally, the Waves team improved their community engagement by introducing the Waves Community Token (WCT). Through the token, owners are able to rate fresh projects that join the platform and to access future rewards. The Waves platform is an example of how blockchain technology is scaling new, decentralized business models through voluntary participation.
Lisk is a decentralized project with a strong community behind it. It focuses on software development, in which it provides regular giveaways to its followers. Besides, the Lisk community focuses on real improvements of complaining about price dynamics.
Decentralization is a key concern in the crypto space. Amazingly, Lisk is already there when others are just gradually moving toward decentralization. Lisk utilizes a high-level community participation in its governance structure. Through its elected nodes, the rewards can reach the stakeholders. With this participatory governance model, the platform is already gaining from community participation.
Previously known as RaiBlocks, Nano is DAG-based virtual currency that has become on Reddit because of its committed fan base.
The followers sincerely love Nano and it seems like they might have the same unified passion for their crypto as what Bitcoin followers once had. Out of this, the followers have even developed an offshoot currency baptized “Banano,” out of fun.
Recently, the community offered more than $950 in Nano crypto to support a Venezuelan citizen who is a member of the community to sail through the escalating inflation in the country. The amount was good enough to buy food that could feed many people. Such actions motivate community participation as Nano seeks to be a role model for the entire crypto space.
EOS works hard to achieve the status of Bitcoin, Ethereum, or anything killer so it has many people excited. It is in the public domain that EOS has managed to raise more than 4 billion dollars through its crowdsale. Overall, EOS seeks to walk in the footsteps of BitShares, Steemit, and Dan Larimer’s creations, which command a huge following.
In approximately one year, EOS has grown to be the platform with the most active code repository in the crypto space, commanding a huge social media following. EOS supporters harbor the hope that sooner or later, it will displace bitcoin as the leader in the cryptocurrency sector. After being highly criticized for bugs and problems launching their mainnet, EOS did raise a reported $4 billion in ICO funding which clearly indicates they have a huge following and interested in audience towards their future.
Ripple Network is designed to provide a seamless connection between banks, digital asset exchanges, payment providers, and corporate organizations through its RippleNet feature. More importantly, it focuses on speed, access, certainty, and cost. With a global growing network, Ripple platform looks better than any blockchain. While half of the reason why XRP's cryptocurrency community makes this list is because they hate on the company, coin and project for being anti-bitcoin – one thing is for sure, its growing community backed by stable resources and has a huge following dating back to the early days of the crypto ecosystem. Ripple is one of the platforms to watch in August and the remainder of this year. It’s the only blockchain platform that focuses on providing a lasting solution to the problem of ineffective global payments.
Based on the information published on its official website, TRON (TRX) is a blockchain-based project that focuses on the establishment of a decentralized internet and its infrastructure. Founded by Justin Sun, TRON’s journey started in 2014. On June 25, 2018, TRON created a genesis block with support from its community. And just this past week, with the official launch of the Tron Virtual Machine (TVM) and Project Atlas, there were over a staggering 1.2 million viewers just to watch this historical event for the TRX community. The famous leader also said the community is 2 million people strong as they officially turned one in July 2018.
Currently, TRX manages 2000 transactions per second, every single day. Besides, TRON wallet is compatible with the web, mobile devices, and desktop PCs.
Bitcoin Cash (BCH)
Polarizing or not, Bitcoin Cash has to make this list of top 13 cryptocurrency communities in the game right now. Lead by the likes of Roger Ver and Craig Wright, Bitcoin Cash aims to be an alternative to Bitcoin (BTC) by making headway towards on-chain scaling of its blockchain network. While many purists might argue that a fragmented community makes for a weaker whole, many of the bitcoin cash supports are all for free market and competition and for the most part have chosen a ‘win or go home', adapt or die type of mentality.
Many are not appreciative of the divide and conquer approach that has been noted within the BCH marketing campaigns – and the little internal battle is tough to swallow if you have been in the space for at least the past year – because all of this drama could cause a pending implosion if not dealt with in due time. With that being said, Bitcoin Cash has a huge following and user base (even by default from the BTC hard fork last August 1) and is poised to continue gaining market share as the BTC vs BCH battle wages on.
Coincidentally, many of the major cryptocurrencies out there seem to have the supportive communities. While the future looks bright with crypto, it is advisable to choose wisely.
What do you guys think of the list of best communities to join within the digital currency ecosystem? Please let us know if you think we should add or remove any of the above and we will take a look at the facts presented!