AMA & On-Chain Voting: How It Helps Cryptocurrency Projects
Do you have any idea what an AMA is? In simple terms, AMA or also known as Ask Me Anything refers to actions where individuals of certain professions (eg. firemen, nurses, journalists) or companies (eg. CEO of Tesla) conduct a session for users to ask them questions. It is usually done on Reddit’s Ask me Anything (r/AmA) subreddit, but can also be done as well in any specific chatrooms/subreddits.
Now, for AMA in cryptocurrencies, it is very much the same. The AMA or Ask Me Anything for cryptocurrencies is the online session referred to as actions where experts from a specific profession or company conduct live sessions for the crypto investors, buyers, or others to ask them any questions related to the crypto market and cryptocurrencies. And this is usually done in Telegram.
What are its benefits? Since you do have the option to ask anything to the founders, co-founders, or staff of a certain project, you will technically know how to position yourself and your investment as most cryptocurrency projects requires you to DYOR, or do your own research. With the help of AMA, you will be able to see the outlook of a project and its goals.
Now, what about on-chain voting? In case you don’t know, our CSS token is both a utility and governance token, which can help when it comes to on-chain voting. On-chain governance is a system for managing and implementing changes to cryptocurrency blockchains. In this type of governance, rules for instituting changes are encoded into the blockchain protocol. Developers propose changes through code updates and each node votes on whether to accept or reject the proposed change.
Mainly, on-chain governance emerged as an alternative to informal systems of governance. It claims to solve the problems of the centralization of cryptocurrency by incorporating all nodes within a blockchain network into the decision-making process.
We hope that you are now able to understand both on-chain voting and AMA, as this two are very important if you are a new investor, especially when it comes to cryptocurrencies or cryptocurrency projects.
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