When most people hear about cryptocurrency, they’re quick to conclude that this concept relates to get-rich-quick schemes where different purchasers buy different amounts of a project and wait for some magic to happen. While cryptocurrency trading involves buying and selling digital assets, its meaning has been misconstrued severally.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
The first thing to note about cryptocurrencies is that they are not a get-rich-quick scheme. And yes, they can make you rich within a short period, but that will only happen based on the potential for a particular cryptocurrency to do well. By studying activities in the cryptocurrency market for the past few years, it’s safe to say that the coin market is a fully functional financial market with several digital assets.
What are Community-Driven Cryptocurrencies?
Now, you need to note that these digital assets are designed differently. The development team for each cryptocurrency decides what utility they wish to solve and the token architecture they feel would be best to solve it. And that’s why we have a unique category of tokens in the crypto market that are designed to be controlled by the community.
Many experts have explained that these tokens were better than their counterparts with a central control mechanism, but there’s no real way to prove this. However, we can conclude that community tokens provide users with the chance to stay in control of events on the blockchain. Most community-driven tokens usually have a fair distribution of tokens that anyone would find it difficult to monopolize.
It’s safe to say that most community-driven tokens are found in the meme sector but hasn’t made the architecture less effective. Many crypto tokens today have chosen the community-driven approach as their preferred way of functioning. Let’s review some of them.
Dog Days
Dogecoin was the first meme coin to break the “meme coin curse.” Created by Billy Marcus and Jackson Palmer, Dogecoin is as old as…
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
