🏗️ [Analysis] Why Crypto Community Building Matters - Spencer Noon

Strong communities are essential for the long-term health of decentralized networks, according to Spencer Noon. While the definition of 'community' can be a moving target the overall stakeholders can be broken down into three parts:

• Users — those who use a network
• Builders —those who develop, maintain, or contribute to a network
• Speculators — those who purchase cryptoassets in order to make a profit

Over the long term, users and builders are most important for the health of a network. Without builders, a network will fail to maintain or upgrade its infrastructure, and without users, a network doesn't have a reason to exist in the first place. A good community strategy should, therefore, be to convert speculators into either users or builders. If a community is managed well it can lead to fewer contentious forks, better governance, and a faster pace of innovation.