Technology as a whole was an idea to aid the progress of humankind. The earliest technological invention was the invention of the wheel. It was invented by the Sumerian people in the 4th Century to overcome the hardships of having to drag heavy objects around. It was the foundation that encouraged people to think bigger and pursue higher standards. Technology has progressed much further from the days of the wheel and fire with the newest strides of advancement in the shape of blockchain technology. However, the spirit of charity and philanthropy often gets ignored when an invention hits the markets. Many new ideas are not geared to benefit people of all walks of life, which goes against the initial goals of
The History of Cryptocurrency
In the start, the innovative idea of a replacement to the fiat currencies of the world was not met with open arms. The cryptocurrency was called a sham and referred to as just a passing trend. Many technical critics bashed the idea of digital currency and promoted all the less likely negative aspects of it. The first cryptocurrency, Bitcoin, was developed as a way to create transparency and bring liberation to the power of value. Cryptocurrency worked on the logic of peer-to-peer transfer and was developed on a new decentralized public ledger known as the blockchain. The goal of the developers of Bitcoin was to create a replacement to fiat currencies which could be dominated by monetizing huge corporations. It was geared to being value determination in the hands of the people and not monetizing parties. This would spell a major downfall for many large corporations, and therefore they tried their level best to eradicate this innovative thought.
However, the saying, “you cannot keep a good man down,” can be perfectly composed to cryptocurrencies’ situation. Soon the benefits of cryptocurrency and the validity behind its promises were brought into the limelight and started gaining recognition from the masses. Gradually the popularity of cryptocurrency rose, which brought the development of other digital tokens such as Ethereum and many more. Cryptocurrency elevated from the status of a joke to becoming one of the most valuable assets of the modern world. Crypto currency’s increase in popularity was contributed by the efforts of many influential popularities and stars of the tech world. An example of these individuals would be one of the most successful and influential personalities of the present world – Elon Musk. He became a representative of the cryptocurrency industry, and his many promotion efforts are what realized the current success of this technology. He was one of the main reasons behind one of the biggest market rises in financial history, with cryptocurrency being in the middle of it.
Cryptocurrency became a must-have for any investor or trader and became recognized as a valuable portfolio commodity. However, it was still not universally beneficial. The biggest factor that differentiates any entity from its competitors or it gives a notable authority is whether it accommodates all demographics of the world or not. The cryptocurrency lacked this factor as it brought benefits to only its holder, which was no different from any other financial commodity. This was a gap that haunted cryptocurrency until the introduction of Elongate.
Elongate – A helping hand to the less fortunate
Elongate is a new innovation in the advanced field of cryptocurrency and the first digital token of its kind. The Elongate token was launched on 25th March 2021, with its headquarters based in the UK. This new type of cryptocurrency was developed with only one goal in mind, and that was to help the ones in need. The founders of Elongate understood the philanthropic lack of crypto and wanted to eliminate it. There fore they came up with a cryptocurrency that would benefit not only its holders but also less-fortune ailing humanity. This new type of cryptocurrency got its name from a tweet that entailed Elon Musk and a hypothetical scandal related to him. At first, it was thought to be another humor-oriented crypto that was often seen coming. However, it was later understood by the public that this was not the case.
Elongate used its transaction cost to provide benefits to its holders while being of significant monetary help to many big charitable organizations. The founders of Elongate worked day and night to develop a way where investors could gain profits from their investments while those assets could be used to generate monetary support for charitable causes.
The world is often viewed to be a cut-throat environment where only the strong survive. However, the truth behind this can be experienced through the success of Elongate – a platform to help others introduce many kindred-souls united to be of help to the needy. Within seven months of its launch, Elongate was able to raise over $3,500,000 for many different charity organizations. This was a never-before-seen act of philanthropy. Elongate has provided the world with a way to gain benefits by benefiting others. The team behind Elongate was successful in realizing the perfect philanthropic situation and is continuing its efforts to create new ways of helping the ailing world.