Who is in charge of the crypto ecosystem?

Traditional financial assets, such as stocks or bonds, have one entity or entities responsible for their creation, management, or value. Since the crypto and the existence of its characters are meaningless, this is what determines the cryptocurrency as an identity. And if the question arises, who is responsible for the crypto ecosystem?

Details about who is involved in the crypto environment really attract a lot of attention and often even become controversial or even competitive. Due to its decentralized nature and freedom of speech, crypto has experienced its share of problems but it has also been a great step forward in its development.

In terms, the possibilities are mainly as follows:

1. Developers:

are people or organizations that develop blockchain technology and systems under a cryptocurrency such as Bitcoin or Ethereum. The source code is often released, which allows anyone to contribute to the development and improvement of the protocol.

2. Miners or contributors:

groups of people or companies that contribute to the computing power of the network by solving mathematical puzzles and what is commonly called POW (object proof of work) or those who invest their assets in cryptocurrencies called POS (proof of stake ) to verify transactions and secure the network. This is a team that receives rewards in the form of newly created cryptocurrencies for their contributions.

3. Users:

these are the key to the existence of the crypto ecosystem, because without them it may not work. Being part of a person or company that uses cryptocurrency, they use it for various purposes, such as:

• Business/Transaction: sending and receiving payments for goods and services.

• Investment: Hold cryptocurrency as an investment, hoping it will increase in value.

• Decentralized applications (dApps): access and interaction with various applications based on blockchain technology.

4. Exchange/Escrow service :

These are online platforms or places that allow users to buy, sell and exchange cryptocurrencies for other cryptocurrencies or fiat (such as USD or their own).

5. Governing Body/Regulator:

Although it is not exactly "responsible" for cryptocurrencies, as we know today, some government agencies and organizations are beginning to develop regulations that manage specific aspects of the cryptocurrency ecosystem.

The crypto space is still evolving, and the various services and projects mentioned above are still developing and being considered for wider adoption. In the absence of a single crypto agency, the collective and non-collective efforts of developers, miners/supporters, users, exchanges and regulators contribute to the work and growth of the environment as a whole is still important, especially awareness-raising of the important back-and-forth roles played by cryptocurrency.

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