BUIDL Definition
BUIDL is a cryptocurrency and blockchain community term derived from the term ‘HODL’, which means ‘hold’, suggesting the act of holding or keeping cryptocurrency tokens rather than selling them. However, BUIDL is a misspelling of the word ‘build’ that emphasizes an approach or model of steadily and continually developing blockchain technology and cryptocurrency projects for long term benefits and utility instead of engaging in short term trading gains.
BUIDL Key Points
- BUIDL is derived from ‘build’, representing a focus on creating substantial value through constant tech development rather than instant profits.”
- Contrasted from the term HODL, which suggests simply holding onto cryptocurrency, BUIDL recommends active participation in blockchain development.
- The term is highly embraced in the crypto and blockchain community, encouraging a culture of persistent innovation and progress.
What is BUIDL?
BUIDL is a catchphrase that emerged from the blockchain developer community, it encourages the building or development of technology and projects around cryptocurrency rather than purely focusing on trading or holding the cryptocurrencies for profits. The term purposefully varies from the popular cryptocurrency term ‘HODL’, which originated in 2013 from a misspelled forum post meaning ‘hold’ your crypto.
Who Uses BUIDL?
BUIDL is a term shared and embraced among the blockchain and cryptocurrency community, especially those focused on technology development. This includes blockchain engineers, developers, innovators, startups, and organizations that are developing applications, platforms or solutions based on blockchain technology.
Where is BUIDL Used?
BUIDL is used within the blockchain and cryptocurrency community. It can be spotted on various online forums, discussions, social media, and cryptocurrency events wherein developers, investors, and enthusiasts meet to discuss the future of this technology and encourage each other to build rather than just hold.
When is BUIDL Relevant?
The term BUIDL is relevant in the context of cryptocurrency market fluctuations. In times when the market is volatile and experiences significant price changes, the emphasis shifts to hold the cryptocurrencies (HODL). However, BUIDL seeks to shift the focus back to technology development no matter market conditions.
Why is BUIDL Important?
BUIDL is important because it underscores the fundamental idea behind blockchain and cryptocurrencies, which is about bringing revolutionary tech ideas to life and redefining how traditional systems work. The concept keeps the focus on the long-term progress and potential of this technology above its short-term financial gains.
How Does BUIDL Influence Blockchain?
The ideology behind BUIDL influences the blockchain community by shifting the focus from just gaining profits to creating meaningful and useful projects. It encourages developers to continually improve existing blockchain technologies and foster innovation, which eventually contributes to the larger development and adoption of blockchain.
