The community is the heart and soul of a blockchain project, providing a strong foundation that drastically improves the likelihood of a project’s success. The individuals who are part of a community help raise funds, create videos, and show other people how to use features of the technology. Community members often are the people who organize meetups, answer questions in person and on social media platforms or amplify content on Crypto Twitter. Community members might contribute open-source code, build apps using the core technology, or evangelize the project.

The strength of a community’s network effect, moreover, is not only determined by how many people make up the community, but the bond between participants and the value of their interactions. The decentralized nature of blockchain ensures no single entity or individual is in control of a project. Instead, a community of diverse individuals is in the driver’s seat, working to propel and working for people. The future of any blockchain is dependent upon the promise that engaged and talented developers maintain the network. Blockchain communities are the face of the ecosystem, explaining to the world why people should be using a particular chain and its value to the world.

An American football team has 11 players. The “12th man” refers to the team’s supporters, suggesting that the fans have a role in encouraging or motivating their team to win. Members of a blockchain project don’t merely support the team but have a spot on the team. Communities have financed projects, crowdsourced ideas that turned into product updates, and developed long-term relationships that bring a project to life. A project is its community and vice versa. If concepts, products, entities, spanning all industries, not just within the blockchain space, intend to truly have an impact, they should consider building a supportive community.

For a project to flourish and grow, its community must be engaged and encouraged to meet, share ideas, and build. There are many ways for a project to encourage participation. As one example, internship programs offer younger members of a community hands-on learning experience. A good task for a green intern is to help spread awareness about a project.

The best aspect of crypto communities is that most have low/no barriers of entry and provide a clear path for anyone to get involved and gain experience. Because of blockchain technology, these projects have become like startups that can crowdsource funding. It is capitalism & free markets in their purest forms, without governmental red tape, regulation, and restrictions. This new system is what makes it possible for projects to reach fulfill their potential.

Crypto communities are also pushing the evolution of organizations further as people are experimenting with different organizational models and governance structures. The industry is accelerating innovation in many ways, not just in terms of technology. Today big companies put all their resources and research in 'intrapreneurs' and try to create an environment of innovation. Big companies should instead look at how innovation is being done in the blockchain space, where people come together spontaneously to solve complex problems together and build businesses of the future. In this way, crypto communities aren’t just important to the crypto industry. They are also starting to influence how the entire world operates, creating a model for how diverse voices can turn new, innovative ideas into tangible outcomes which benefit everyone. Recognizing these benefits, many projects run a host of rewards programs and development initiatives for their communities, allowing them to earn incentives or prizes for engagement on build community. These are important exercises to ensure their communities feel valued and engaged. The relationship needs to be mutually beneficial and, more importantly, founded on open honest and transparent communication. Cryptocurrencies and wider blockchain projects are founded upon egalitarian principles that ensure that no single individual or corporation can take full control. Even the etymology of the word “ecosystem” — often used to describe the network of infrastructure, products, workers and supporters that make up a project — is related to ideas of interconnectedness and symbiosis. More so than in most industries, blockchain communities offer unique input into how projects develop, communicate and operate, often shaping the technology of the companies that they stand behind. As such, projects across the world are pouring millions of dollars and serious manpower into sustaining and developing their valuable communities. Amongst fierce competition, they recognize that they cannot survive and thrive without communities.