The key to the sustainability and prosperity of any company is based on its adoption in the world and the widespread use of its products / services. In real life, it is not enough to release a good product, because if a small number of people know about it and no one uses the product, any company will be doomed to failure.
Building a large, powerful and loyal community is one of the primary tasks for the company along with the creation of its main product / service. Any experienced CEO, marketing or PR manager understands that without a strong community, the success of any company will be very difficult. Why is community building so important? The community helps the company solve several very important tasks:
- Community members are the very first and most loyal users of a product or service that a company provides. The larger the community, the more users will have the company’s product at the first, most difficult stage, of entering the market.
- Community members can participate in beta testing of a product / service that the company is developing for free or for a small fee. Having a large loyal community, a company can conduct truly large-scale beta testing of its product without significant costs. By identifying the strengths and weaknesses of their product. And in advance, before the release of the final version, eliminating the shortcomings and strengthening the strengths of their product.
- Most members of the community are fans of the company who believe in its success and long-term holders of company tokens. The larger the community, the more tokens will be withdrawn from circulation, which will reduce pressure on the price of the token and create the prerequisites for its lack, thereby stimulating a price increase.
- The community can be a valuable source of skilled employees for the company. The larger the community, the greater the chance for the company to find useful community members.
“Acquiring users from the cryptocurrency space does not only lead to growth of a customer base, but also a growth in a community that drives the product forward through the execution of its own diverse skillsets.”
VALUE OF THE CRYPTO COMMUNITY by DAO MAKER
AVA Labs is a recently appeared startup in the blockchain industry. It was founded by Cornell University professors Emin Gün Sirer and Kevin Sekniqi.
AVA is an implementation of Avalanche that is led by a team that includes the co-creator of this consensus and the co-author of its whitepaper, Professor Emin Gun Sirer. AVA Labs will oversee the growth of AVA.
Put simply, Avalanche is the first metastable leaderless consensus.
This means that unlike other networks where one or more nodes act as a leader, ergo miners or delegated nodes, all nodes have an equal status in Avalanche. Traditionally, a consensus is reached through the leader, but with Avalanche, the metastability of the network drives consensus.
Metastability means a lack of equilibrium, and this is important for blockchains as they must tilt in one direction in order to reach consensus. Avalanche is designed to tilt consensus towards one option, and it does so in an ultra-decentralized (no leader) and -secure manner (probabilistic selection) manner.
AVA offers a ‘Platform of Platforms’ allowing:
- Launching customized blockchains, private & public — With AVA, you can deploy blockchains that fit your own application needs. Build your own VM, and dictate exactly how the blockchain should operate.
- Creating digital assets — AVA allows one to launch smart assets or digital representations of real-world-assets that obey special covenants and trading restrictions. Better than any other platform.
- Launching scalable smart contracts and dapps — By leveraging AVA’s engine, developers can launch smart contracts that confirm in a second, and scale to thousands or millions of validators, far beyond any other blockchain platform today.
Key features of the AVA platform are:
- High performance — Transactions are confirmed in just about a second, and the system can clear thousands per second. This makes p2p payments a reality with AVA.
- Scalable and secure — The platform can accommodate thousands to millions of participants.
- Flexible and customizable — Each blockchain launched on AVA can define its own core logic and validator set. This means compliance and privacy by default.
To demonstrate its capabilities, AVA Labs created using its Avalanche consensus mechanism, Athereum. Athereum friendly fork of Ethereum that will have a 1: 1 ratio with ETH. This isn’t a contentious fork. They are simply porting over the Ethereum state at a to-be-determined block height. All existing Ethereum holders will have access to ATH equal to the current amount of ETH they hold in their wallets. No additional coins are being created, and no new coins will be minted after the spoon date. Athereum is 99% Ethereum and 1% AVA. Using the same keys, contracts, and tooling you are already using. Metamask, MEW, Remix, all are working out of the box. This new implementation shows the world that Ethereum is capable of scaling today with existing technology.
But, as I wrote earlier, any, even the most revolutionary technology or product for successful development and adoption in the world needs a large and powerful community. This is also understood by professionals from AVA Labs.
To form its community, AVA launched a very interesting initiative — AVA Hub. This platform is based on the well-known development of the DAO MAKER company — a social mining platform (you can learn more about this platform here, here and here ). The social mining platform is a decentralized autonomous organization (DAO), which is created separately for each client. The main objective of this platform is aimed, to reward the community members of this company for any actions performed by the community members that contributed to the success of the project. Every time when a community member performs an action aimed at promoting the company, the community votes on the value that this action brings to the project. Subsequently, this community member receives a reward commensurate with his contribution to the development and promotion of the company. For a company that uses a social mining platform, this is useful because it creates an ecosystem that allows the community of any project to effectively use their mutual resources to improve its project. Each community action aimed at improving the effectiveness of the project is rewarded based on the added value estimated by the community.
As for the AVA Hub — actively participating in the life and development of the company, community members will receive appropriate rewards and bonuses, such as gift certificates for the world’s leading online stores, branded swag, exclusive collectibles and, of course, free company tokens. Such an approach will encourage community members to participate more actively in the life and development of the company.
At the moment, the hub is open for registration of all comers, so if you want to become a member of the community of one of the most promising projects of 2020, meet new interesting people from around the world, as well as receive valuable gifts for your contribution to the development of the community and the success of the company — JOIN FRIENDS !!!