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Crypto Comics – What is DYOR

I tried to explain what DYOR is in comic strips.

TL;DR

I explained what DYOR is and how it will be used in a particular situation.

Some Takeaway

DYOR or Doing Your Own Research is a motto against crypto fraud. Since crypto was introduced in 2009, the valuation of cryptocurrency has increased dramatically. Many people who left out of such a movement started to regret and want to join without any rational mind. They try to get in as fast as possible and get out through a get-rich-overnight mindset. However, it does not play out well as we all know that. Many fall into scams and fraud.             

How to DYOR

What to look for when you research? There will always be a greater promise with the project and an awesome roadmap to users. How can investors judge? The landscape of crypto has been drastically changed since 2009. However, everything can be revealed in the blockchain. 

Research into Blockchain

Blockchain is a great place to reveal many secrets. Investors will start to dive into blockchain data in the first place to research. But more importantly, the creator of such a crypto project will be under scrutiny. Their holdings on such tokens and how they are distributed is a way to reveal some hidden secrets about the real purpose of the project.     

Flat vs. Pyramid 

If the crypto project creates a pyramid, their core team will have more funds than the public. Likely such a project will not survive in the long term. The Crypto project is mainly toward decentralization. It encourages everything to enter and possess some of the assets that they can use. Creating a pyramid-like structure will slow down the growth of the project. Since the crypto space evolves faster than usual, such pyramid organization will soon be left out. While a flat organization may move slowly, the organization has dynamic characteristics that can change itself to fit into an ever-changing environment. 

Against Scams

However, many scams target the target audience without their due diligence. It is then critical for investors or participants to join the crypto space with their own research. Many social media platforms will promote crypto projects blindly and many viewers should be aware of such promotion without influencing your own decisions.  

In conclusion

DYOR is a great way to learn crypto. It is a crucial process that users should do before even ever putting their own money into the project.

Check out my other article

Crypto Comics – What is Airdrop

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