Earnity is a community-based platform to buy and sell crypto led by Domenic Carosa and Dan Schatt. The San Mateo, California-based startup is working on a highly-secure, easy-to-use app for buying, selling, and holding crypto and DeFi assets that will serve both new users and long-time crypto purists.
Speaking of cryptocurrency purists, Domenic Carosa and Dan Schatt explain that these individuals believe in the original vision of cryptocurrency: a digital, decentralized, and secure form of money. For them, anything that falls short of this ideal is not actual cryptocurrency. They often criticize projects that use blockchain technology but don’t follow the original vision, calling them “cryptocurrencies” in name only.
Creating a New Financial System
Cryptocurrency purists argue that the true value of cryptocurrency lies in its ability to create a new financial system that is free from government control and censorship. They believe that Satoshi Nakamoto’s original white paper laid out the perfect blueprint for this new system, and any deviation from it is a step back.
While there is no single definition of what constitutes a “true” cryptocurrency, most purists agree that the following criteria must be met:
1. The currency must be digital and decentralized.
2. The currency must be secure and resistant to censorship and fraud.
3. The currency must have a limited supply so that it cannot be devalued by inflation.
4. The currency must be open source to be audited and improved by anyone.
Many early cryptocurrencies, such as Bitcoin and Litecoin, meet these criteria. However, newer projects, such as Ethereum and EOS, do not meet such standards. This has led to a rift within the cryptocurrency community, with purists arguing that these newer projects are not actual cryptocurrencies and proponents arguing that they represent a further evolution of the technology.
Cryptocurrency purists are often dismissed as zealots or idealists, but they argue that their vision is the only way to protect and ensure the long-term success of cryptocurrency. They believe that if the cryptocurrency community does not stay true to its original values, it will eventually be overtaken by more centralized and controlled systems, which Earnity’s Dann Schatt and Domenic Carosa want to premote.
