Innovation is key, but good community is more important.

[Utoy101]

If we cite few examples, i want to believe that you all agree with me that Binance is the new face of crypto currency exchange leading from every front ?

Do you also agree that, binance features were not always the first of all, for example, exrates added fiat crypto gateway to their exchange platform 2 years ago without much usage or acceptance.  t.me/exratesme/411


Now fast forward 2 years, and binance adds Nigerian Naira gateway via flutterwave, and it shook the whole crypto sphere as a completely new innovation. And binance has proceeded to add over 10 fiat gateways to their exchange platform

Core lesson to developers is to always boost their communities and remain relevant, that way people get to use and explore the benefits from their innovation.


NB:
You can also contribute more to the thread,
i used binance and exrates as a case study to further emphasize my points, no discrimination at all.
Always DYOR.

I agree with you as binance isn't always the first to roll out most of the features that make them number one in the market today but i also have to admit the fact That they present these features in the best way to the market and it has paved way for them to top every other exchange out there. Binance as an exchange is innovative and is always looking for ways to make their services better in any way possible coupled the trust earned by them so far, i think those are the reason behind it's strong community

[Perfect35]

A good project with a silent community should not yet be seen as being good. Engaging the community in the discussion is very important. Let them talk about your project and ask their concerns. That will bring and attract the mind of others to it. When they ask questions and you give them deeper meaning to what you have, they are happy and excited to invest in it. Not only that, but they will also invite others, such as their friends and family to come and invest in such a project.

[Lhaine]

A good project with a silent community should not yet be seen as being good. Engaging the community in the discussion is very important. Let them talk about your project and ask their concerns. That will bring and attract the mind of others to it. When they ask questions and you give them deeper meaning to what you have, they are happy and excited to invest in it. Not only that, but they will also invite others, such as their friends and family to come and invest in such a project.

Totally true, they need to also follow the discussion that project have it may help for him and other community to know each other and learn more about the project they are supporting. The more people engage in a project the more people can also be attracted to became part of thier community.

[Akoldi_ibk]

Community base is crucial for any crypto project, however giving your community real innovation is the key. What I observe with binance over the years is that they thrive on the trust they've built in the space. Although exrate had the feature up and running before anyone, I will still prefer binance because of their reputation and constant dishing out of innovations.

[leowonderful]

You need both an active and passionate community for anything in the crypto space to succeed. The main development team of a crypto project should also ideally have some sort of communication with the community whether it's updates or questions and announcements to ensure things are moving in the right direction.

There's definitely no one or few defined ways for a project to succeed, though. Everything in the crypto space has its own strengths and faults, though there are improvements to be made everywhere. Nothing's truly perfect.

[cytpoway121]

You have mentioned two core values of a solid and reliable project in the crypto currency space.

Because, they are entwined and vice versa, why ? If you have good products and a weak community base, no one to use your product and the project goes off like a flame.
But if you have a community base that trusts and believe in the project, every products will be used, practiced and utilized, which causes natural  hypes and high prices of products in the crypto currency space.

[ralle14]

From my experience with some exchanges I think reliability is the more important factor so they could maintain their community because there are exchanges that eventually lose their quality or become inconsistent until other traders find a better alternative. I agree innovation is also a big part in the success of exchanges but it doesn't need to be rushed just like how some exchanges does it unless they have a big competitor.

[hushpupppy]

You are right about the community, the core product and marketing of most products depends on the efficacy and intelligence of the community members towards the project.

In a short word, run a honest and transparent community and watch your product grow

[Ifemini]

If we cite few examples, i want to believe that you all agree with me that Binance is the new face of crypto currency exchange leading from every front ?

Do you also agree that, binance features were not always the first of all, for example, exrates added fiat crypto gateway to their exchange platform 2 years ago without much usage or acceptance.  t.me/exratesme/411


Now fast forward 2 years, and binance adds Nigerian Naira gateway via flutterwave, and it shook the whole crypto sphere as a completely new innovation. And binance has proceeded to add over 10 fiat gateways to their exchange platform

Core lesson to developers is to always boost their communities and remain relevant, that way people get to use and explore the benefits from their innovation.


NB:
You can also contribute more to the thread,
i used binance and exrates as a case study to further emphasize my points, no discrimination at all.
Always DYOR.

I agree with you as binance isn't always the first to roll out most of the features that make them number one in the market today but i also have to admit the fact That they present these features in the best way to the market and it has paved way for them to top every other exchange out there. Binance as an exchange is innovative and is always looking for ways to make their services better in any way possible coupled the trust earned by them so far, i think those are the reason behind it's strong community

Good notes from you about binance, but likewise, do you know that projects now over depend on binance for their token price to keep an upsurge.
Projects need to learn to make this things balanced, have a good project, innovate a working product, then list on a big exchange as the perfect catalyst to enjoy a good token value.

[FireBallex]

Binance deserves the love of from the community, they started their journey on a solid foundation, they build a very strong reputation between them and the exchange users so why won't they succeed? I do hope many new and upcoming projects will learn from binance team

[kceekcee]

Community is the determining key fa tor to the success and f any cryptocurrency project. If you develop a cure for covid-19 without the required community to shill it to o the world, your discovery won't be meaningful.

The community is not the determining factors, but a core factor that judges how the end of a project will be after being listed on exchange
Likewise, the type of exchange in which the token is listed, will be a huge judge as to why a project can succeed.

Dyor, and get the basics understood.

[Byakuga]

That's why new projects should care more about their community, without the community the project won't develop as the team hoped for, make the community happy and everything else follows