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Hello everyone.
Welcome to this post. Hope you all are well and happy and enjoy your precious health by the grace of Allah Almighty. Today, I'm going to participate in SteemitCryptoAcademy's week 3 contest and the topic of discussion is Tokonomics in the Crypto Ecosystem. So, stay tuned with me.
What is Toconomics?
Tokenomics dictates the supply and demand characteristics of cryptocurrencies, but before we dive into tokenomics, let's take a look at what a token means.
What is a token?
Token is a digital unit of a cryptocurrency that is either used as a specific asset or represents a specific use on the blockchain Tokens can have a number of use cases but the most common are security utility or Governance tokens are tokens built on cryptocurrencies and blockchains. The default algorithmic release schedule means that we can predict with a fair degree of accuracy how many coins will be created by a particular day and time, although for most cryptoassets this is not possible. Changing this published schedule may require considerable effort. This schedule is thus very difficult to change.
Why Toconomics is Important When Investing in Cryptocurrency?
Understanding the factors that will affect supply and demand is of great importance to both speculators and investors, perhaps the most important factor is understanding how the digital currency will be used, whether the platform Is there a clear connection between the construction of the form or service and the asset itself? If this is the case then it is highly likely that the growing service will require purchases that increase usage and thus increase in value, if not what can the token be used for other important questions.
How many coins or tokens are there at the moment?
How many will exist in the future and when will they be created?
Who owns the coins? Are there any planned for future releases for developers?
Are large numbers of coins burned or otherwise unusable?
Toconomics is also helpful as a guide to understand how much an asset may be worth in the future. can prove impossible. For example, let's see At two coins Bitcoin Cash and Tron Bitcoin Cash has a total supply equal to Bitcoin so thinking it could become as valuable as the world's largest cryptocurrency is possible but over 100 billion. Tron is already geared up to break a few thousand dollars per donation. Coin tron will need to become the most valuable business in the history of the world to make the odds of that happen somewhat less while these questions may require complex answers to help them see and understand crypto assets. provide an additional way to determine whether one asset has greater potential for greater value and future prospects than another.
I invite my dear friends @faisalamin @adeljose @tocho2 @bountyking5 to participate in this beautiful contest.
Thanks for reading.
Best Regards:@mateen005
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Curated By - @deepak94
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Thank you so much @steemcurator09 and @deepak94 for support😀
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I appreciate your effort but you need to some improvements in your contest many spelling mistakes in your contest and you don't give the answer of all questions properly I suggest you to improve your knowledge about tokenomics thanks for sharing
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Hi bother, I really appreciate your efforts in writing this post. You have spend a very good time in the research work of this post.
Tokenomics is basically the study of the economy of that token in which we are going to invest.
The market of the cryptocurrency is so much volatile that we can never predict the next move of the market easily. But, there are a few things that can help us in understanding a bit about the market conditions.
The components of the Tokenomics can be studies and managed properly for the fair working of that token and the upcoming bright future of it as well.
You have saud well that the burning of the tokens play a very important role in increasing the demand of that token in the market. When the supply is decreased by burning them through sending them to the dead or null addresses.
Thanks a lot for sharing your precious post with us. I wish you best of luck for the contest.
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I am very happy with your encouragement, thanks for increasing my knowledge so that you can do more on this platform and add value to yourself. I wish you all the best and always keep smiling.
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Greetings my friend, its clear that you are a new user on the platform, i want to sincerely appreciate your effort in this task. The crypto academy task is usially the hardest when it comes to the steemit platform but with your attempt, it means that with time you will do extensively very well. I suggest that you also read through othe users entry aside the research you make, that will give you a clear understanding of the task under consideration. I wish you the best my friend as you journey through the platform.
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Thanks dear❤
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You have attempted and given your views on the concept of tokenomics, and I appreciate your effort and time dear friend.
Are you still confused about the tokenomics in the cryptocurrency? It is a relatively new and broad field of study, and many people are still learning about it.
Tokenomics, usually referred to as token economics, is the study of economics related to the issuance, distribution, and use of tokens within a particular ecosystem. It is a form of economic analysis that looks at the entire system and helps to determine how tokens are created, distributed, and used to create value for the entire ecosystem.
I encourage more research boss, and I wish you the best in you blogging journey here on steemit.
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The information you have given has removed all my confusion about Tokenomex you have added to my knowledge I appreciate a friend like you always be happy.
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