Instantly exchange Gitcoin at the best price and with the lowest fees on StealthEX. Free from registration, fast, and limitless GTC swaps. You can see for yourself how convenient it is.
Price (USD)$ 1.35
Circulating SupplyGTC 60.86337M
Volume (24h)$ 1.48781M
Market Cap$ 82.39078M
Low/High 24h$ 1.35 - $ 1.43
Change (24h)-$ 0.06495
The decentralized finance field keeps thriving as more and more companies try to develop their own financial blockchains. One of the most innovative platforms is Gitcoin.
Gitcoin (GTC) is a blockchain-based platform and a community of builders, creators, and protocols working together to shape the future of the open Internet. Gitcoin's mission is to build and fund digital public goods.
Today, the internet has unlocked a world of possibilities for collaboration and creation. Technologies like open-source protocols and decentralized blockchains enable businesses to take that co-creation to a new scale. Thus, the Gitcoin community makes use of these technologies to fund and create digital public goods projects that benefit everyone and provide immediate solutions to their problems.
Open-source software is considered the critical component of software development and modern computing. This software provides users with the source code that anyone can check, modify, and enhance. As stated in its whitepaper, Gitcoin aims to promote the collaboration of open-source software projects. But, as open-source software is free and open by nature, many developers contributing to these projects receive little or no compensation in return. To overcome this issue, Gitcoin seeks to provide financial incentives and grants to developers who embark on development projects.
Gitcoin aims to work as part of the Web3 infrastructure that offers the following features:
This is a patented democratic approach adopted by Gitcoin through which crypto funding is directed to public goods initiatives. Quadratic Funding offers a structure where individual donations are matched with an equivalent amount of funding from larger pools of funds provided by bigger donors.
The mechanism amplifies the contributions made by large communities over the donations made by a small group with high-paying capacities. The matching of funds is done using a proprietary formula, which is then optimized to benefit projects with more community support. Since its launch in November 2017, Gitcoin Grants has now provided nearly $16M of funding to public goods. This is in tandem with $3.54M in bounties which have been paid to open-source developers from all around the world.
Gitcoin offers bounties, which allows users to crowdsource support from accessible developers on the Gitcoin platform to fund certain technological development issues. To fund a bounty, a user must first create an issue on GitHub, then fund it with Gitcoin (specifying project specifics, a completion deadline, and any other relevant information), following which contributors can fill out a simple form expressing their interest in resolving the issue. Gitcoin bounties can be permissioned, requiring funder consent before starting work, or permissionless, allowing anyone at any time to finish the bounty. Using Gitcoin bounties, funders can choose workers at their leisure, set deadlines, and cancel at any time.
Gitcoin's native token is named GTC, which is an ERC20 token with no economic value. This implies the token has no financial rights. It is primarily used to administer the Gitcoin ecosystem. The primary focus of the token is to allow communities to create and fund open-source projects. Moreover, the GTC is used by Gitcoin's decentralized autonomous organization (DAO) to decentralize and govern the platform by putting the future of the platform in the hands of the community growing around it.
The DAO is the vessel for Gitcoin’s mission. It consists of community members coordinating to fund public goods, and introduces the Gitcoin token (GTC) to make decisions about where to allocate resources. GTC is a governance token for credibly neutral developer talent and public goods funding, and the means to progressively decentralize the Gitcoin platform through the GitcoinDAO.
At inception, Gitcoin’s DAO will oversee a community treasury of GTC tokens, along with offering a governance framework for delegates (called Gitcoin Stewards) to participate in key ecosystem decisions such as fund allocation, matching pools, and grant collusion.
Gitcoin Passport is a digital ID using verifiable credentials to confirm identity authentications from across the Internet without storing personally identifiable information. In its essence, it is an identity aggregation dApp built on the Ceramic Network. Users can collect various identity attestations, called stamps, from Web2 and Web3 authenticators in one place.
Digital democracy, Play-to-Earn games, and professional reputation tools are all examples of systems which assume that one person is one account. Integrating Passport with an application will help users lower their surface area for Sybil attacks, and enable experimentation with new mechanisms for governance and accreditation.
Web3 organizations are trying to make a change in the world. Running from March 9 to March 24, GR13, a pool of grants under the Gitcoin banner that included a pool to benefit Ukraine, took place from March 9 to March 24. GR13 is the 13th quadratic funding round Gitcoin has launched, and Gitcoin co-founder Scott Moore tells Decrypt it’s ‘part of our move to donate to more real-world causes.’ The Ukraine-specific pool of GR13 has raised just over $1 million in funding to support Ukraine.
Web3 projects Polygon, Algorand, ENS, Uniswap, OlympusDAO, NounsDAO, OpenSea, Radicle, ZK Tech, and Open Gaming have all joined Gitcoin’s GR13 initiative by offering matching funds of their own, in varying amounts. NounsDAO, ENS Domains, and Filecoin were also among the projects that have donated to the Ukraine pool.
When it comes to price predictions for GTC crypto, there is a number of forecasts available online. For instance, PricePrediction estimates that by 2025, GTC crypto will reach a maximum of $4.91 per coin, while by 2031, it may go as high as $52.24. DigitalCoinPrice is more careful in its predictions: its experts promise that GTC coin will go as high as $5.96 by 2025, however, by 2031, it will reach only $25.70. All in all, Gitcoin seems to be a promising project, and thanks to its Quadratic Funding and Gitcoin Grants, it may pave the way for further DeFi development. While it’s difficult to predict its future, it may get a fair market share in the Web3 economy of tomorrow.
StealthEX is here to help you buy GTC coin. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 600 different coins and you can do wallet-to-wallet transfers instantly and problem-free.
Just go to StealthEX and follow these easy steps:
Follow us on Medium, Twitter, Telegram, YouTube, and Publish0x to stay updated about the latest news on StealthEX.io and the rest of the crypto world.
ERC-20 tokens are the standard tokens used on the Ethereum chain and here is the ERC 20 tokens list
Take a look at the crypto predictions for 2023, both from experts views and the overall market position
Check out a brief overview of the most important events of 2022 and their impact on the future of cryptocurrency