Mr. Zhao commonly referred to by the acronym CZ used the crypto jargon FUD and BUIDL to express the statement.
Binance’s CZ Encourages Developing on Crypto
Cryptocurrency continues to lose value with Bitcoin price hitting $3,930.42 as of the time of this writing. All the other major cryptocurrencies too are stack in the same rat race with Ethereum and Bitcoin cash both having uneasy times. Many people in the industry lost hope on cryptocurrencies and no longer believe that crypto could be the currency of the future.
Meanwhile, the CEO of Binance a major cryptocurrency exchange platform revealed this morning that Fear of losses in crypto wins in the short time. He explained saying building on the cryptocurrency blockchain definitely wins in the long run. The message posted on his official twitter used the crypto terms FUD and BUIDL.
In commerce, FUD is fear, uncertainty, and doubt, usually evoked intentionally in order to put a competitor at a disadvantage. A good percentage of the crypto-community can be described to be in a condition of FUD. Price declined couple with annoying government regulations is responsible for the FUD in the crypto space.
On the other hand, people who BUIDL on crypto are developers and investors who create useful kinds of stuff on the cryptocurrency blockchain. The word BUIDL simply means holding on the cryptocurrency alone is not beneficial enough. A lot of useful products can generate from within the cryptocurrency blockchain.
Building on cryptocurrency
Unlike Holding crypto commonly denoted as HODL, building on crypto is producing now and power applications on cryptocurrencies. Recently the crypto application known as Krypto Kitties became popular enough to drive prices of some crypto tokens. Those who build on to cryptocurrencies can be assured of long-term profits from the space.
However building on cryptocurrencies is not just straightforward, users would need to acquire the skills to do so unless already skilled at building dApps. The progress in cryptocurrency and blockchain technology goes over and beyond digital tokens, as institutional applications of cryptocurrency are inventing.
Furthermore, there is a rich market for cryptocurrency developers. The wide applications mean the market is still expanding. According to recent salary reports, blockchain developers gets payment better than ordinary software developers. A lot of companies shows interests in the technology creating a lot of jobs for possible blockchain developers.
Fortunately, building on crypto or blockchain is not rocket science. Users should develop relevant programming skills and jump straight to blockchain development.
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