What Is Most Important To Creating A Successful Cryptocurrency

[olabiyijummy02]

Based on the cryptocurrency projects that have seen good and sustainable success over the past few years, the recipes for success isn't just about having a good concept or a good team. To be successful in the blockchain cryptocurrency space you have to create a project that actually satisfies a pressing need either on-chain or in the real life.

A project is likely to be more successful If it solves a pressing on-chain problem.
This is even better because blockchain technology still has some way to go before it fully impacts the everyday lives or people like the internet does today, so there is still a need for projects that makes these blockchain integrations faster.

Such projects will always be a key part for the blockchain infrastructure in the long run and is almost guaranteed to be successful.

The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects

This combined with other important components like; A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success

[adekogbe]

This is an interesting take.
Thinking about it, Ethereum is a very good example of this type of project after the creation of BTC came ethereum which isn't just another cryptocurrency but also a Blockchain that facilitated the creation of other blockchains.

Stable coins like USDT also solved a similarly important problem when it was first introduced because a lot of people wanted a stable coin that is immune to the volatility of the other cryptocurrencies

Polkadot is another example in the Defi space facilitating the integration of different Defi projects together.

If a project solves a pressing need in the Blockchain space, it will be successful

 

[posi]

Firstly, I dont think there's a need for another new cryptocurrency and this is why alot of crypto related emulation the version of what previous project introduced. However, this is the reason why we have a lot of shitcoin flooding the capital market.
With that been said, faster block chain integration doesn't make a crypto successful, have ever ask yourself why Bitcoin was so successful and never loose it number spot despite the limited TPS

[Review Master]

Even if any project thinks outside the box and there is no adoption for that particular sector, than it won't be successful or can't maintain the development progress for longer period of time. That's why team should find out the adoption rate first before thinking outside the box. On the other hand, any project can be successful by taking advantage of the current hype,but it won't stay in this market after few years. So, it depends on so many things for different sectors.

[seoincorporation]

...
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects

This is the important point, we need something new, not a copy of what already exists... If a new coin has a goal to be successful, then it must be something useful and must come with new and original ideas. And at this point is hard, because all the good ideas have already become true, I mean, right now we have anonymous coins, smart contracts, staking, and all that new technology, so it's hard to come with a new and great idea.

[Asuspawer09]

Yeah, I guess that is why a lot of altcoins or cryptocurrency has a different problem to solve in the society, and it will be a direct competitor to each altcoin if they have same target or market.

I mean we don't really need many cryptocurrencies it could be the only bitcoin at some point and we don't need any other altcoins since they are just an alternative but it did exist.

But I think one of the points here is the community because that is the one who brings this project to life, I mean just look at DOGE as a meme coin we should not expect anything but at this point, we cant really ignore it now and it's irresponsible not to have some in your portfolio.

[tabas]

Firstly, I dont think there's a need for another new cryptocurrency and this is why alot of crypto related emulation the version of what previous project introduced. However, this is the reason why we have a lot of shitcoin flooding the capital market.
With that been said, faster block chain integration doesn't make a crypto successful, have ever ask yourself why Bitcoin was so successful and never loose it number spot despite the limited TPS

I agree with this take. There's no need for another creation of a newer cryptocurrency that would tackle the existing problems that we have with most of the cryptos in existence.
They always bring problem but solves little with what they're taking in the market. It's very disappointing to see such new projects these days because they're mainly into pump and dump scheme.

[posi]

Firstly, I dont think there's a need for another new cryptocurrency and this is why alot of crypto related emulation the version of what previous project introduced. However, this is the reason why we have a lot of shitcoin flooding the capital market.
With that been said, faster block chain integration doesn't make a crypto successful, have ever ask yourself why Bitcoin was so successful and never loose it number spot despite the limited TPS

I agree with this take. There's no need for another creation of a newer cryptocurrency that would tackle the existing problems that we have with most of the cryptos in existence.
They always bring problem but solves little with what they're taking in the market. It's very disappointing to see such new projects these days because they're mainly into pump and dump scheme.

About the point of altcoin been pump and dump which is also the reason why altcoin market are highly manipulated because
1) Most of the altcoin are created to enrich the team involved pouch cause they have missed the early adoption of Bitcoin.
2) Also to keep people attention away from Bitcoin that's the reason why people like Ver tweeted "BTC is not the real Bitcoin".

[mrdeposit]

Good timing should also be considered as an important factor. In the bloody market days, we witness the failure of good projects, while in green days even shitty projects can find a place for themselves.

[dzonikg28]

This is an interesting take.
Thinking about it, Ethereum is a very good example of this type of project after the creation of BTC came ethereum which isn't just another cryptocurrency but also a Blockchain that facilitated the creation of other blockchains.

Stable coins like USDT also solved a similarly important problem when it was first introduced because a lot of people wanted a stable coin that is immune to the volatility of the other cryptocurrencies

Polkadot is another example in the Defi space facilitating the integration of different Defi projects together.

If a project solves a pressing need in the Blockchain space, it will be successful

 

USDT did solve an important problem, but it is a centralized technology after all. But it was necessary as an intermediate step. A fully decentralized stable coin would be good to have though.

[tabas]

Firstly, I dont think there's a need for another new cryptocurrency and this is why alot of crypto related emulation the version of what previous project introduced. However, this is the reason why we have a lot of shitcoin flooding the capital market.
With that been said, faster block chain integration doesn't make a crypto successful, have ever ask yourself why Bitcoin was so successful and never loose it number spot despite the limited TPS

I agree with this take. There's no need for another creation of a newer cryptocurrency that would tackle the existing problems that we have with most of the cryptos in existence.
They always bring problem but solves little with what they're taking in the market. It's very disappointing to see such new projects these days because they're mainly into pump and dump scheme.

About the point of altcoin been pump and dump which is also the reason why altcoin market are highly manipulated because
1) Most of the altcoin are created to enrich the team involved pouch cause they have missed the early adoption of Bitcoin.
2) Also to keep people attention away from Bitcoin that's the reason why people like Ver tweeted "BTC is not the real Bitcoin".

1. I agree, there have been projects that made their developers wealthy even though they've missed the early days of bitcoin.
2. It's just dividing the community and the markets but that's it, we've got now plenty of choice but too sad that many newbies are losing because of hype and due to the newly made coins.

[posi]

Firstly, I dont think there's a need for another new cryptocurrency and this is why alot of crypto related emulation the version of what previous project introduced. However, this is the reason why we have a lot of shitcoin flooding the capital market.
With that been said, faster block chain integration doesn't make a crypto successful, have ever ask yourself why Bitcoin was so successful and never loose it number spot despite the limited TPS

I agree with this take. There's no need for another creation of a newer cryptocurrency that would tackle the existing problems that we have with most of the cryptos in existence.
They always bring problem but solves little with what they're taking in the market. It's very disappointing to see such new projects these days because they're mainly into pump and dump scheme.

About the point of altcoin been pump and dump which is also the reason why altcoin market are highly manipulated because
1) Most of the altcoin are created to enrich the team involved pouch cause they have missed the early adoption of Bitcoin.
2) Also to keep people attention away from Bitcoin that's the reason why people like Ver tweeted "BTC is not the real Bitcoin".

1. I agree, there have been projects that made their developers wealthy even though they've missed the early days of bitcoin.
2. It's just dividing the community and the markets but that's it, we've got now plenty of choice but too sad that many newbies are losing because of hype and due to the newly made coins.

1) Yes, that's what it is all about and the number of exit scam in altcoin market are countless
2) To be sincere, there will always be some people who will be set as prey because most of the newbies never held to the advise of invest mostly on Bitcoin and what they are looking for is fake 100x new gem coin which doesn't happen anywhere. I dont say there no new gem altcoin that people need to educate themselves about how to spot one.

[Scripture]

Good timing should also be considered as an important factor. In the bloody market days, we witness the failure of good projects, while in green days even shitty projects can find a place for themselves.

That's what happening right now, shitty projects are gaining a lot of exposure in the market and even get listed on the top exchange without real business in this market, this is how timing is important. If you are into serious business then you must think you edge towards other project and offer a good solutions to those existing problem or to create a new platform that can benefit the whole market, you must also consider the total supply of the project to become more successful.

[Renampun]

...

I think you've answered your question...

solid team, problem-solving, good backing up funds, and honesty are very important to boost the success of a cryptocurrency project.

Good timing should also be considered as an important factor. In the bloody market days, we witness the failure of good projects, while in green days even shitty projects can find a place for themselves.

a phenomenon that will continue to occur, when bitcoin is bullish, many Altcoins will be affected, including shitcoins.

[noorman0]

Projects that succeed are those who are dedicated to their technology, with unique concepts and ideas that are desperately needed today and beyond. Basically they don't really care about the value of the crypto they issued, because they believe the value of the tokens reflects how useful the ideas they develop are.

Unhealthy projects don't do this, they just play the role of manipulating behind the scenes as if the project is still alive.

[oemar bakrie]

all the good steps you have concluded above ...
from teamwork and choosing concepts that the public at large can or easily understand.
besides that, honesty is needed in maintaining all the projects that will be carried out. Do not give a bad impression of the project plan that will be made ..

[tabas]

1. I agree, there have been projects that made their developers wealthy even though they've missed the early days of bitcoin.
2. It's just dividing the community and the markets but that's it, we've got now plenty of choice but too sad that many newbies are losing because of hype and due to the newly made coins.

1) Yes, that's what it is all about and the number of exit scam in altcoin market are countless
2) To be sincere, there will always be some people who will be set as prey because most of the newbies never held to the advise of invest mostly on Bitcoin and what they are looking for is fake 100x new gem coin which doesn't happen anywhere. I dont say there no new gem altcoin that people need to educate themselves about how to spot one.

1. I'm now having that thought that after this market cycle, there will be now a bunch of projects that are likely made to scam investors again.
2. Exactly, they don't highlight that people should invest on bitcoin because they have their own token that should be the choice.

[senyorito123]

Projects that succeed are those who are dedicated to their technology, with unique concepts and ideas that are desperately needed today and beyond. Basically they don't really care about the value of the crypto they issued, because they believe the value of the tokens reflects how useful the ideas they develop are.

Unhealthy projects don't do this, they just play the role of manipulating behind the scenes as if the project is still alive.

Yes it is, dedication is one of the reason that can make project successful because whatever good and bad things happen, they never get tired to fix and solve it. Having also a good and knowledgeable team is best to make the project better because they can share ideas and elaborate things for the goodness of the project.

[dzonikg28]

Projects that succeed are those who are dedicated to their technology, with unique concepts and ideas that are desperately needed today and beyond. Basically they don't really care about the value of the crypto they issued, because they believe the value of the tokens reflects how useful the ideas they develop are.

Unhealthy projects don't do this, they just play the role of manipulating behind the scenes as if the project is still alive.

Yes it is, dedication is one of the reason that can make project successful because whatever good and bad things happen, they never get tired to fix and solve it. Having also a good and knowledgeable team is best to make the project better because they can share ideas and elaborate things for the goodness of the project.

A lot of them I feel have a problem with cash management and budgeting. I recall how many millions many of the projects raised years ago, absolutely mind-boggling numbers, and yet they weren't able to deliver a product. Every startup in the real world is happy to get on million of funding, but companies like TenX raised a 100 million and couldn't present a real product even after years.

[wiss19]

The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects

This combined with other important components like; A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success

After all, you must need strong promotion methods.

Today dogecoin is no: 4 in coinmarketcap ranking, because of use-case? Team? Out-of-box- concepts? Nothing.
But, dogecoin got good promoters to launch it even into moon. That kind of continuous back up from investors and long-term holder will definitely help any coin to be successful in long run.

Dogecoin's current success is not an example still it teaches us what is needed to be followed along with ticking all the basics of one successful coin.