Gitcoin (GTC) and META 1 Coin are two very different projects available to investors. Despite their glaring differences, they both have done a lot to help drive adoption within the blockchain space. Here’s everything to consider concerning Gitcoin (GTC) vs META 1 Coin.
What is Gitcoin (GTC)?
The first thing to understand about Gitcoin is that it’s not a cryptocurrency. Gitcoin combines a community of builders, creators, and protocols with the goal to help further Web3 adoption. To accomplish this task, the network introduces a variety of proprietary features and a unique community governance mechanism.
Gitcoin users vote on new projects to help fund. The project introduces quadratic funding methods and combines them with decentralized grants to help startups seeking capital. The community-driven project enables users to manage disputes and govern the treasury directly. The goal of the project is to help lay the foundation for the digital economy of the future.
Gitcoin is well established in the market. The network has already helped thousands of projects take their concepts and form them into reality. Notably, the Gitcoin community secured $33.9 million in funding for startups to date. Additionally, the network has grown to include +311,000 active developers, making it one of the largest in the crypto market.
What is META 1 Coin?
META 1 Coin is the culmination of 11-years of cryptocurrency development. The token builds on the concepts of its predecessors like Bitcoin and Ethereum and introduces a variety of new features. META 1 Coin operates as the foundation for the METANOMICs universe. The token helps to drive wealth through stability and appreciation.
Unlike earlier stablecoins like Tether (TUSD), META 1 derives value from appreciating gold-related assets rather than fiat currency. As such, it provides users with more favorable store-of-value characteristics. Additionally, the developers introduce a value control system to ensure that the token doesn’t experience pump and dumps.
META 1 Coin holders gain access to a host of passive income streams. You can stake and save this token to earn low-risk rewards with minimal effort. You can also spend META 1 Coins just like fiat currency using the networks VISA debit card.
What Problems was Gitcoin (GTC) Built to Alleviate?
Gitcoin’s main goal is to provide projects that have the potential to improve blockchain adoption access to financial and technical support. The network operates as a valuable catalyst in the market. The platform currently has over $21 million in grants, bounties, and rewards for developers seeking support.
Notably, projects with focus on the common good receive the highest priority within the network. Developers can join these projects and help them to solve their problems and build their networks. For their efforts, developers earn rewards in the form of GTC tokens.
The network also conducts hackathons for platforms. A hackathon is a competition in which hackers earn rewards for infiltrating a network’s security. They allow developers to remove attack vectors while incentivizing the community to participate in the process.
Gitcoin simplifies project discovery for users. Gitcoin users can easily see new projects with disruptive potential. Additionally, the network takes the concept of co-creation to the next level. You now have developers meeting up and joining forces for small tasks across multiple platforms in a decentralized manner.
What Problems was META 1 Coin Built to Alleviate?
When asked why he founded META 1 Coin, Robert P. Dunlap explained that the current financial system is skewed against the average user. Regular users pay more and earn less. Additionally, they don’t have access to the prime opportunities as these are reserved for the inner circle of accredited users. META 1 Coin eliminates all the gatekeepers and middle men from the market.
Anyone can participate n META 1 Coins all-inclusive DeFi ecosystem. The project provides borderless access to powerful features such as staking and savings accounts. The network is set up to provide global services because it is located outside of the jurisdiction of centralized financial regulators. As such, the network is open regardless of user’s location, credit history, or their ability to provide documentation.
META 1 Coin reduces volatility from the crypto market due to its multi-asset structure. It also reduces centralization by eliminating the main causes of this problem, large investment firms. The network requires META 1 Coin holders to prove they are human and not an agency, government, or company. This strategy helps to prevent large whale investors from attempting to purchase more than 50% of the META 1 Coins and taking over the network.
How Does Gitcoin (GTC) Work?
Gitcoin enables developers to earn profits and help expand the blockchain sector. The system is more than just a meeting place for developers. There are also a lot of educational aspects to the firm’s business model. For example, the platform provides a variety of learning tools to the market. Here, developers can work directly with well known industry leaders to improve their skills.
Gitcoin users can see their network expand rapidly as it becomes simple to connect with other like-minded individuals. You can effortlessly scroll through and join open source projects that meet your particular skill set. Gitcoin provides a better model for coordination which enables developers to secure passive rewards without risk.
The Kernel fellowship program is Gitcoin’s premier training course. This 8-week learning session was built to improve your skills and expand your network simultaneously. Meet other developers and build together using Gitcoin.
How Does META 1 Coin Work?
META 1 Coin works by combing the top features available in the DeFi community with a non-custodial DEX, a multi-asset-backed stablecoin, and a responsive DEX. The project was built on the META blockchain. This fourth-generation network provides developers and users with high scalability, transparency, and security.
Notably, the META 1 blockchain is a Proof-of-Stake (PoS) network. As such, it requires far less energy than Proof-of-Work networks like Bitcoin to remain valid. In the META1 system, special nodes called witnesses validate transactions on the blockchain. This approach provides the META DEX with transaction throughput on par with the NASDAQ stock exchange.
META1 Coin holders can earn rewards simply by holding their tokens. The self-appreciating aspects of the coin make it ideal for HODLing. You can also stake your tokens and secure rewards based on the number of tokens you lock.
One of the best features of META 1 Coin is its onboarding and off-boarding processes. Users can join the network using fiat currency thanks to a recent partnership with Onramper. META1 now accepts 50 different fiat currencies. Once you hold META1 Coins you can access all the network’s features. When you’re ready to spend some of your earnings, you can do so anywhere that accepts VISA. You can also use the DEX to trade for other popular cryptocurrencies such as Ethereum.
Gitcoin (GTC) vs META 1 Coin – Two Wings of the Same Bird
After looking at the facts, it’s easy to see that both of these projects are vital to the blockchain community. Gitcoin helps drive innovation and expand adoption through its unique crowdfunding strategies. META 1 focuses on the individual user and helping them to acquire more wealth using low-risk methods. For these reasons, both of these projects are set to see a bright future.