What is Gitcoin (GTC currency)? What is the future prospect of GTC currency?

Dec 08,2022
What is Gitcoin (GTC currency)? What is the future prospect of GTC currency?

Today, I want to introduce Gitcoin to you. Gitcoin describes itself as a community composed of developers, founders and protocols to jointly promote the future of open Internet. Gitcoin has established a community, which is suitable for the new infrastructure of Web3, including tools, technologies and networks, to promote the development of the open source industry. So, what exactly is Gitcoin? What is the future prospect of GTC coin? Next, let's have a look.

What is Gitcoin (GTC currency)?

GTC currency is the regulatory currency of Gitcoin and will be released in late May 2021. The establishment and support of the DAO that will operate Gitcoin must be TOKEN.

On the other hand, Gitcoin is unique in that it is a channel for social governance, especially for open source projects. As of June 2021, more than 20 million US dollars have been raised for open source projects through GTC coins. There are more than 160000 active developers every month, and a little more than 1600 projects have been established.

Gitcoin aims to create a future vision called "Quadratic Lands", which is a digital ecosystem that attaches great importance to data democracy and social governance.

In addition, GTC coin shows that their mission is to create an open source, cooperative and economically enabled Internet. They build communities and infrastructure for Web3, various tools, technologies and networks so that people can work for the open Internet.

They also stressed that they are working together to build a future public data infrastructure based on support projects, creating communities and providing teaching resources.

On the other hand, Gitcoin DAO is a community operation department that will assume the future of GTC coins. Gitcoin DAO aims to lead the community to the secondary land, which is an ideal state in the future, where public goods can be democratically distributed and moderately supported.

Initially, the remediation will focus on the use of funds for Gitcoin Grants and remediation workflow. During the support round period, the community will determine the round size and accreditation, as well as its general support guidelines.

What is the future prospect of GTC currency?

Gitcoin is a platform that provides funding for builders looking for valuable open source work. The team set a precedent for quadratic financing, which is a novel democratic method that can fund public affairs in the team's quarterly Gitcoin Grants plan. Since its release in November 2017, Gitcoin Grants has now brought nearly 16 million dollars of donated assets to public affairs. At the same time, it also provided a reward of 3.54 million dollars, which has been paid to open-source developers from all over the world.

With the development of the entire digital currency industry, the team has also encountered tremendous resistance. BTC, Ethereum and hundreds of open source digital currency projects finally acquired assets and built their own agreements. This is the first time in the history of the Internet that it can bring billions of dollars to the open source ecosystem. The team felt that this had a huge impact, although many aspects remained to be explored.

game. Com is a blockchain game platform that opens Xintiandi, a virtual currency game. In addition, the platform also sold the decentralized blockchain digital currency based on Ethereum ERC20 - GTC (G-coin for short), which is committed to becoming the universal virtual currency specification of the global game industry.

The vision of the project is great, but the development of currency and the implementation of the project are not very good. It was sold in January 2018, with a total of 2 billion pieces of currency, the original price of which was 0.69 yuan, the maximum of which was 2 yuan. At present, it is 0.029 yuan, a decline of 95.7%. Seven exchanges, including Matcha and Huoyuan, have been released. Although the daily turnover is more than 20 million, several institutions have also obtained investment.

However, the project is 100% circulating, and the currency holdings are too concentrated. The top 10 have 92%, and the number of fans of the project is not large. The code has only been submitted 44 times in more than two years of open source, which is less than expected.

In general, the goal of this project is ambitious, but once it was released, it was just to pull the market without doing anything, and the currency price went up and down sharply. Moreover, the goal is to become a global game industry. I don't know who gave me the courage to say this according to the currency lending specifications. I don't think so.

Speaking of this, I believe you have a certain understanding of what GTC currency is and what its future prospects are. In general, the advantages and disadvantages of the GTC currency project can be seen intuitively from these contents. Although the GTC currency has become a thousand times the currency in less than a year, there are still many shortcomings in the project. Therefore, you must be cautious when investing in GTC currency. First, you should know how strong the GTC currency team is, and then you should know whether the investment risk will be resolved. In addition, you should also know the price of GTC currency, Find a suitable time to purchase GTC coins.