Replies from DECENTRALIZED — CoinEx You Ask We Answer VOL.26 Featuring DECENTRALIZED
Last month’s CoinEx You Ask We Answer with DECENTRALIZED drew numerous insightful questions thanks to active community engagement. The DECENTRALIZED team has reviewed and responded to the most common queries.
Q1: What is the object, Mission and vision of this project?
A: DECENTRALIZED is a movement for people that believe in a Decentralized future. Etching Rune #2 was just the start, and we’ll continue to work on other experimentations and technological solutions to enhance the Bitcoin ecosystem.
Q2: What are the benefits of decentralization? How does decentralization work? How to manage decentralization? What is a DECENTRALIZED role?
A: Decentralization is the epitome of cryptocurrency and the most important aspect. It removes risk and corruption associated with central bodies and enhances resilience, security, transparency, and user autonomy by distributing control and data across multiple nodes.
Q3: If you were to describe the DECENTRALIZED project in 3 words, what would they be?
A: Provenance, Culture and Technology.
Q4: Can you tell us the story of DECENTRALIZED and what inspired you for this project?
A: The story began with CyberKongz, a record-breaking NFT project on Ethereum that minted on March 3rd 2021 and changed the entire landscape by combining the fungible with non-fungible.
We were excited by the prospect of the Runes protocol and wanted to leave our mark with something we have always aligned with: Decentralization. We launched Prometheans, a Pre-rune collection that was heavily integrated within our lore. After that we spent 8BTC on etching Rune #2: DECENTRALIZED. This was then airdropped to Prometheans holders and other Ordinals communities, marking the beginning of this powerful movement.
Now we are focused on spreading and enhancing the message of Decentralized, along with working on technological solutions that can help improve the user experience within the Bitcoin ecosystem.
Q5: What are the benefits of holding $DECENTRALIZED token as long term investment? Can you tell us about the motivation and benefits for investors to keep the token in the long run?
A: Owning DECENTRALIZED is being a part of a movement. It’s a token that represents culture, provenance, and technology. It shows that you were here for the halving and present when history was made.
Q6: What are the unique features of DECENTRALIZED that distinguish it from other projects?
A: It’s not a memecoin or utility token. DECENTRALIZED is a token that stands for an idea. It’s a cultural symbol. We label it as a: Provenance Rune.
Q7: How can DECENTRALIZED projects improve security and transparency compared to centralized systems?
With no central point to attack, decentralized systems can be more resistant to hacking and cyber-attacks. If one node fails, the system can continue to operate, increasing overall reliability.
It has been shown throughout cryptocurrency, especially in this current market cycle, that Decentralized projects have performed best and this is something we believe in also.
Q8: There is always competition in blockchain technology. How does @DECENTRALIZED02 plan to be at the forefront of its innovative features? What if in the next few years, the entire market has crashed due to little demand or strict regulations, how will your ecosystem survive?
A: The ecosystem survives if people decide they want it to survive. This is the beauty of decentralization. Anyone that wants to use DECENTRALIZED within their ecosystem can, along with the MagicEden marketplace we developed the ability to mint an ordinals collection using a Rune token as payment.
We are wholeheartedly focused on uplifting the entire Bitcoin ecosystem, not just Decentralized.
Q9: Most of the questions people ask in the AMA section are about the strengths of the project. On the contrary, I am interested in difficulties and challenges. So what difficulties did the team face while developing the project and how did they overcome them?
A: Without smart contracts, building on Bitcoin is a completely new experience. It’s like learning a new language. Fortunately, we have a diverse network within the Bitcoin ecosystem, and we were able to use our network to bring on some of the best developers on Bitcoin.
Q10: What is the most recent important update, and what are you currently working on?
A: Study the latest twitter post here: https://x.com/DECENTRALIZED02/status/1816602545281978509
Q11: Can the DECENTRALIZED team share the advisor for the project?
A: We use different advisors for different elements within DECENTRALIZED. Not all advisors are publicly mentioned as some prefer to just give their advice without taking any credit for it.
Q12: Would this project be prioritized by the CyberKongz team over other projects?
A: No, DECENTRALIZED is separate from CyberKongz, run and managed by different teams.
Q13: why there’s no information about DEC circulating supply?
A: All of the information about DECENTRALIZED supply is, and has always been on-chain.
https://ordinals.com/rune/DECENTRALIZED
Q14: Does #DECENTRALIZED have any plans to Airdrop to its users in the near future? As you know, Airdrops are very popular these days.
A: DECENTRALIZED began as a Pre-Rune Ordinal collection called Prometheans which were airdropped to over 18,000 unique wallets. The supply of DECENTRALIZED was then airdropped to Promethean holders and holders of select Ordinal communities. This was all done using our innovative diamond weighted script. There are no additional airdrops planned for the future.
Q15: Where can I join the DECENTRALIZED community?
A: You can join the CyberKongz discord and verify your DECENTRALIZED holdings to gain access to the DECENTRALIZED chat channel.
https://discord.com/invite/cyberkongz
Keep an eye out for future You Ask We Answer sessions, featuring collaborations with diverse projects aimed at enriching your understanding of the crypto landscape. Thank you for your engagement and support, as it helps strengthen our community’s knowledge and enthusiasm for emerging crypto initiatives!
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