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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6322
Registered: 04-2019

Rating: N/A
Votes: 0

Posted on Thursday, May 13, 2021 - 9:31 am:   


Jaffaa:

uncle best this is follow a project and understand how it's fixing the concept of money

money characteristics:
1. no double spend - neenu meeku 1$ pampithe aa 1$ vere vallaki pampaleenu
2. decentralization - the goal for crypto currency is to not have a central authority. good to research how a particular cryptocurrency's enables good decentralization. decentralization factor is measured in terms on nakomoto coefficient
3. spam resistant - most of the coins have fees which prevents bad actors to do spam because they have to pay a minor fee for each transaction. in case of nano there is zero fee, however with the upcoming release they are innovatively solving this problem
4. understand whether the crypto currency is proof of work or proof of stake or something. how do nodes/validators participate in consensus
5. understand who are competitors for a project, and what is your project advantages over them.
6. also regularly check for commits in github, participate in developer discussion, if possible run a validator yourself. if the code is private or if the team is not public they that's a big redflag.

I may be missing something else, but generally the above is true for any crypto.



CLIPART--pouce

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