What is Gitcoin? Gitcoin (GTC) is a Blockchain project that aims to help develop and fund open source programs. In this article, you can access the answers to the questions that investors wonder, such as what is Gitcoin, what it offers, what is GTC coin, what is it for, how to get it. As Kriptokoin.com, we have prepared it for you.
What is Gitcoin?
When the Internet first emerged, there were different ideas about what this new virtual world should look like. Accordingly, many tech geniuses, including Tim Berners Lee, who created the internet, thought of the internet as a place where information circulated freely. This internet view, independent of authority and individual ownership, became Web3 over time. This is where Gitcoin comes in. The project uses its own ecosystem and Blockchain technology to support the open internet. Accordingly, the platform is decentralized through a DAO.
Gitcoin was launched in May of 2021. The project has been supporting Web3 infrastructure ever since. Additionally, it does this by developing tools, applications, networks and technologies. In essence, it aims to attract developers. For this, it finances developers with grants and funds. In addition, the project supports socialization. Developers who want can join various communities and donate to the developers they follow. However, the platform also has a Web3 training platform. On this platform, developers train other users. In addition, developers can also earn money through their applications on Gitcoin, which is based on Ethereum.
What is GTC coin? What does it do?
GTC coin is the governance token of the Gitcoin platform. As we mentioned above, Gitcoin has a DAO. GTC provides funding and management of this DAO. It is actually an Ethereum-based ERC-20 token, but a version is also available on GTC’s Near network. GTC coin price is trading at $2.86 at the time of writing. In addition, 14.2 million GTCs are in circulation. The total supply of the token is determined as 100 million units. Now let’s take a look at the use cases of GTC coin.
GTC holders can participate in the Gitcoin DAO. Users participating in the DAO can bid on the community by directly participating in the management of the platform. They can also vote on other users’ bids. Accordingly, GTC coin holders are, in a way, like the shareholders of Gitcoin. However, the token is also used for rewarding. The rewards that the platform gives to the developers are in the form of GTC coins. Users can tip other developers in GTC or ETH.
What is Gitcoin? How to get GTC coins?
Gitcoin is traded on many crypto exchanges with large trading volume. GTC coin is currently listed by exchanges such as Binance, KuCoin, Coinbase. To purchase the token, it is necessary to become a member of one of these exchanges and verify the identity. Investors who have created their accounts completely can buy GTC coins by depositing money in their wallets.
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