What are the different ways in which utility is defined in the cryptocurrency industry?

1 answers

• Ruzanna BarsegovaJan 01, 2024 · 2 years ago
  At BYDFi, we believe that utility in the cryptocurrency industry goes beyond just the technology and functionality of a cryptocurrency. It also encompasses the community and ecosystem surrounding it. Utility can be seen in the active development community, the number of decentralized applications built on the blockchain, and the engagement of users and stakeholders. A cryptocurrency with a thriving ecosystem and a passionate community is more likely to have higher utility and long-term sustainability. Therefore, when evaluating the utility of a cryptocurrency, it's important to consider not only its technical features but also the broader ecosystem and community support it enjoys.
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