The First ICO Template For Neo Has Been Launched

NEO has been awarded its first ICO template and it reportedly ticks all the requirements for launching a successful campaign.

The rising popularity of ICOs has given rise to the need for ICO templates and most of them are modified to suit specific needs. ICOs involving the digital currency known as Ethereum have particularly been popular. So popular that the team behind the digital currency has been creating guides on how to create and distribute tokens. Smart contracts are thus important in such dealings. The fact that Ethereum deal with smart contracts means it was only a matter of time until ICOs started popping up in NEO’s ecosystem.

The emergence of Neo ICOs has thus necessitated a template. Its availability is expected to make it significantly easier for many organizations and projects to launch their ICOs on NEO’s network. Most people prefer to host ICOs on the Ethereum network but it is clear that infrastructure cannot always handle the rapidly growing demand for tokens. This is because the Ethereum network tends to clog up every time an ICO is launched on the network, thus leading to problems.

It is currently not clear whether NEO’s network will also face the same problems especially considering that its network or infrastructure is not much better than that of its counterpart. However, it is clear that the situation with Ethereum’s ICOs might force people to shift to alternatives. The open-source nature of the recently launched template is also expected to attract a lot of attention as time goes by. But then again there is also the matter of the Chinese government’s involvement in cracking down on ICOs, and NEO developers might thus find themselves in problems for allowing ICOs to take place on the NEO network.

The developers claim that the platform is currently not being scrutinized by the Chinese government but no officials have confirmed whether that is the case. Fortunately, NEO’s ICO templates overcome some major problems involved in ICOs through various features such as inbuilt refund capabilities. Another vital feature is the ability to reject transaction when necessary. This can be applied especially in cases where people attempt to send money after the crowdsale is concluded. Transactions in such cases will be rejected which means the money will not leave the digital wallet of the sender.

One of the most impressive aspects of the new template is the fact that it adheres to KYC regulations. Any NEO address involved in an ICO has to be approved through a KYC service. An address automatically becomes eligible for an ICO upon verification. These measures are aimed at making ICOs safer. The lack of regulation has previously aroused a lot of opposition from governments all over the world.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.