Why Communities Matter In The Cryptospace
OCTOBER 17, 2018 Posted by REBELLIOUS
“Many hands make light work” is a cliché and often overused expression. However, in the crypto sphere, the phrase takes on renewed meaning. The very nature of blockchain technology is one that relies on engaged users all connecting to the blockchain network. With many blockchains utilising masternodes to support voting and governance, the voice of active users is present at virtually every stage.
WHY COMMUNITY MATTERS IN CRYPTOCURRENCY
Unlike fiat currencies, which have centuries of tried and tested routines, cryptocurrency is a new and emerging market. While recent years have seen the technology gain significant distinction, how we use blockchains and how widely adopted they can become is still being explored and developed. Although time is needed for blockchains to spread across multiple industries, the wait is worth it. Blockchain technology has the power to transform global sectors — at a fraction of the resource cost traditional systems use.
The uncharted territory that blockchains have to navigate makes it difficult for new users or even experienced hands to digest and pass on accurate information. A telling statistic¹ is that in 2017, it is claimed that 46% of initial coin offers (ICOs) failed. It is likely that many of those failed attempts could be attributed to a lack of community engagement. Without a thriving network of users, blockchains have incredibly limited functionality.
REBELLIOUS PRIDES ITSELF ON COMMUNITY ENGAGEMENT
Communities matter, never more so than in the initial stages of a cryptocurrency’s development. Even established offerings like Bitcoin still rely on hundreds of investors and influencers to promote their message and share the advantages of blockchain technology. Rebellious operates no differently. You could argue that we take community more seriously than most.
An expert team of over 30 community managers are all focussed on one primary objective: effective communication that spreads factual and engaging information about the Rebellious network.² Blockchains, by virtue of their algorithms, encourage everyone to take part, and so too should their relevant social media platforms. In conjunction with Twitter, Reddit, Medium, and Telegram, community members new and old can ask technical questions, access resources about the REBL network, or understand more about the values that drive the REBL token.
Engagement not only secures a network of active users; it puts the power of development in their hands. Don’t take our word for it, take the word of 24k Twitter followers, 1.6K subscribers on Reddit, and over 9000 Telegram users across 11 languages.
TWITTER, TELEGRAM AND FACEBOOK ARE NOT WITHOUT THEIR ISSUES
The internet’s greatest gift, access to untapped information, can also be its greatest curse. Misinformation, especially in the crypto market where expert knowledge is not yet commonplace, can damage both the cryptocurrency and its community. That is why we take the role of community management so seriously. Access to our white paper and accurate details of token distribution are critical. An increasingly common occurrence on social media platforms like Twitter³ is for bots to lure unsuspecting users with fake links to fraudulent token sales.
We ensure only verified accounts that comply with the regulations cryptocurrencies must adhere to in order to post relevant details about our blockchain’s development. Links to all the official platforms for communication can be found at the bottom of the article.⁴
A THRIVING COMMUNITY NEEDS SUPPORT
Regulating and reviewing how a community feels about blockchain projects is a vital part of building a successful network. With many cryptocurrencies falling at the first hurdle, active communities can nurture the early stages of development. Add in the risk of bots or illegitimate followers, and the power of dynamic, passionate community managers comes into clear view.
1. Bitcoin.com. 46% of Last Year’s ICOs Have Failed Already. https://news.bitcoin.com/46-last-years-icos-failed-already/
2. Rebellious Homepage. https://www.rebellious.io/#bruno_lightbox/0/
3. Coindesk. Researchers Discover Huge Crypto Scam Botnet on Twitter. https://www.coindesk.com/researchers-discover-huge-crypto-scam-botnet-on-twitter/
4. Rebellious Community Page. A team that believes, A community that cares. https://www.rebellious.io/community/