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How a Distributed ICO Smart Contract Works

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One of the biggest advantages of Distributed ICOs is its added security. By integrating smart contracts into the ICO process, Distributed ICOs successfully curb scammers while keeping projects aligned with the needs and expectations of their investors. But how does it all work?

A major difference between traditional and Distributed ICOs is how the project is governed. Distributed ICOs involve extra guidelines that protect the investor and maintain the integrity of the project. This is achieved with a token contract that controls the entire ICO process, from start to finish. More than just a means of distributing tokens to investors, token contracts determine:

    • Token prices and the number of tokens distributed during each investment period.
    • The amount of money the startup can raise.
    • The minimum and maximum investment amount.

In other words, the smart contract works to ensure that projects raise enough money to complete their tasks, without giving the project leaders all the money upfront. This doesn’t only prevent startups from using investments as a way to turn a large profit, controlling token prices also effectively eliminates any manipulation techniques used to capitalize on volatility.

How the Distributed ICO Is Structured

First and foremost, there needs to be a funding plan that’s based on the project’s roadmap. That way, the team can look at the goals and expectations of the project and determine how much money they need to reach each milestone.

From there, the funding plan is partitioned as follows:

    • The entire funding plan is broken up into several periods.
    • Each period is divided into rounds.

The total number of tokens available, the price for each token, and the number of rounds that make up a period are all determined at the beginning of that period. This information informs how each round will be managed.

Every round has a set number of tokens available, and that number of tokens can’t exceed the number of tokens available for the whole period. Each round has its own predetermined minimum and maximum investment amount as well.

There’s also a special situation known as Round 0. This happens when the project has no token holders yet, so investors receive their tokens immediately upon investing rather than at the end of a period. The same applies for projects; during Round 0, they also immediately receive the funds from investors.

Finally, there’s the end-of-round procedure. This is when investors get to vote (proportionally based on the number of tokens they have) on the continuation of the project at the end of each round.

    • If the investors vote yes, the startup receives their funds and the investors receive their tokens.
    • If the investors vote no, the smart contract automatically returns the money collected in this round to the investors and the ICO is terminated.

Bringing a Better Solution to ICOs

As you can see, the distributed ICO adds some much-needed structure and accountability to blockchain projects. As such, startups integrate traditional project management principles into their company roadmap. The end result is a blockchain project that has the scope, financial management, and transparency needed to attract traditional investors.

Learn more about how you can use distributed ICOs to grow your platform by visiting the ICO Success website today.

Bitcoin

Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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How Bitcoin Has Changed Online Gaming

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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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