What is WCT currency
# WCT Currency: Waves Community Token
## Introduction
In the face of the rapid growth seen in the world of digital currencies, many projects have emerged aiming to support tech communities and stimulate innovation. Among these projects, the **WCT** currency, known as the **Waves Community Token**, has stood out as a tool to enhance the community's role in the Waves network, one of the first blockchain networks specializing in the easy and fast launch of digital assets.
## What is WCT Currency?
WCT is a digital token developed on the Waves platform, officially launched in early 2017. The primary goal of creating this currency was to reward the active community supporting the Waves network, and to grant its members the right to vote and participate in the development of the network and its associated projects.
### Main Objectives of the Currency:
- **Rewarding WAVES Holders**: WCT was distributed to holders of the original WAVES currency as a kind of gratitude for their contribution to the network's success.
- **Participation in Voting**: WCT holders were granted the right to vote on new projects, making the decision-making process more decentralized.
- **Encouraging Innovation**: The project used WCT as an incentive to support new projects and foster innovation within the Waves ecosystem.
## How WCT Currency is Distributed
Instead of selling it through initial coin offerings (ICO), WCT was distributed for free to the community, based on the amount of WAVES each user owned. This step aimed to create a strong and cohesive community that continuously supports the project.
## The Importance of WCT in the Waves Ecosystem
WCT has contributed to building an effective and motivating community within the Waves network, where users participated in evaluating and funding emerging projects. It also enabled the network to implement the principle of decentralized governance, allowing the community a real role in system development.
## Decline and Current Role of the Currency
As the Waves network evolved over time, more advanced voting and reward tools were developed, leading to a decline in the use of WCT. Nevertheless, WCT remains an important part of Waves' history and a testament to how a supportive community can be built around a blockchain project.
## Important Information about WCT Currency:
| Feature | Details |
|-----------------|-------------------------------|
| Full Name | Waves Community Token (WCT) |
| Release Network | Waves Blockchain |
| Year of Launch | 2017 |
| Function | Community Rewards - Voting |
Although the currency$BNB
#WC T no longer plays a major role as it did at its launch, yet it remains an important example of how communities can be empowered in blockchain projects. The WCT experience highlighted the importance of engaging the community in the development of digital projects, a concept that has become essential today in many decentralized and community governance projects ($