Principles of real crypto

Many millionaires have been created by cryptocurrency, but there have also been many losers. The crypto-industry’s reputation has been tarnished by a string of pump-and-dump schemes, hacks, and failed projects. Not everyone knows how to earn without getting rekt, and most lose money. But now it’s time for a change because real crypto follows some principles invented by Satoshi Nakamoto.

We at Cryptoscout24 are following those principles as a guidance to educate you and to identify profitable projects.

The First Principle Of Crypto

Unlike most tokens out there, real crypto is based on the first principles initiated by Satoshi Nakamoto in his Bitcoin white paper. Just like bitcoiners, owners of real crypto practise self-custody, where every person retains full control and is responsible for his/her economic energy. There have been too many failures, driven primarily by the users who were too eager to give up control over their coins to an exchange or to other platforms in the name of security and to chase yield. The first rule of real crypto “zen” masters are always in control of their keys, responsibly managing them.

The Second Principle Of Crypto

The second first principle of crypto as designed by Nakamoto is truth by consensus. I can trust you without having to share additional information with you because the underlying protocol is in charge of verifying all the information. Real crypto has an open source smart contract deployed on the blockchain protocol. The code can’t be changed by anyone, and it’s verifiable and audited. The permissionless and trustless nature of real crypto ensures that there are no middlemen in the equation. Everything happens on-chain without any off-chain governance rules that can somehow change the contract. only a few crypto projects are entirely free of counterparty risk.

The Third Principle Of Crypto

The third principle is decentralization, where real crypto achieves true mastery because there’s no management team capable of changing the code, there’s no admin keys to the smart contract, there’s no pre-mint giving anyone the power to dump or manipulate, there’s no address receiving part of the rewards, there’s no initial or finite supply, and yet real crypto achieves the broadest possible decentralisation and disinflationary effect as time passes by.

👉 Examples of eco systems following these principles you will find here