The importance of community in blockchain from "summary" of The Basics of Bitcoins and Blockchains by Antony Lewis
Blockchain technology is not just about the technical details of how blocks are linked together using cryptographic hashes. It is also about the people who participate in the network, verify transactions, and maintain the integrity of the system. This human aspect is often overlooked, but it is crucial for the success and sustainability of any blockchain network. The community surrounding a blockchain project plays a vital role in its development and growth. Without an active and engaged community, a blockchain network is likely to stagnate and eventually die out. This is because it is the community that drives adoption, innovation, and governance within the network. It is the community that decides which upgrades to implement, which projects to support, and which direction the network should take. Moreover, a strong community can help to build trust and credibility in a blockchain network. When people see that there is a vibrant and passionate community backing a project, they are more likely to trust the technology and invest in it. On the other hand, a project with a weak or fragmented community is likely to be viewed with suspicion and skepticism. Community also plays a crucial role in ensuring the security and decentralization of a blockchain network. The more diverse and distributed the community, the more resilient the network is to attacks and censorship. A strong community can help to prevent centralization of power and ensure that the network remains open and inclusive to all participants.- Community is an essential and often overlooked aspect of blockchain technology. Without a thriving community, a blockchain network is unlikely to succeed in the long run. Building and nurturing a strong community should be a top priority for anyone involved in the blockchain space.
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