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The Process for holding an Initial Coin Offering explained.

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The cryptocurrencies and Blockchain Technology spawned a new way of public crowdfunding known as Initial Coin Offering or ICO.

Understanding various steps to conduct an Initial Coin Offering successfully.  

  • Introduction

A few decades ago, the internet was the revolution, that brought the humans closer to each other. All the information across the world was made available on the fingertips of each and every individual, gradually the network gained momentum and now the internet is the biggest network of computers and servers around the globe. After Internet, came Bitcoin and through Bitcoin came Initial Coin Offering.

 

  • Cryptocurrencies

The Internet is the one where a copy of the data is sent to the client requesting it, but with the invention of cryptocurrencies using the Blockchain Technology, the transfer of information was made possible by avoiding keeping copies of it in different places. In other words, an asset on the Blockchain network would be available at only one location at a particular instant of time. Hence it was based on, not sharing, but ‘transfer of value.’ Bitcoin was popularly known to have been solved the double spent problem which existed in cryptocurrencies prior to Bitcoin, but with the Blockchain Technology and its spectacular features, people couldn’t stop praising and embracing it.

 

  • Initial Coin Offering assisting Entrepreneurs

In order to start a particular business, an entrepreneur requires huge amounts of investments depending upon his project. Earlier it was difficult, as the entrepreneur had access only to a limited number of Venture capitalists and investors in his vicinity. But the cryptocurrencies and Blockchain Technology spawned a new way of public crowdfunding known as Initial Coin Offering through which the investors and venture capitalist from all around the world gained access to participate in the offering provided by the project.

 

It is well known that the Initial Coin Offerings are highly beneficial, as they digitize the complete process and reaches to every investor in the nook and corner of the world as it is online. Depending upon the popularity as well as the potential of the project, it is evident that one has been able to raise almost millions of dollars within a few days of the Offering, which was highly challenging for the Initial Public Offering.

 

The Initial Coin Offering Process is as explained below.

1. Having a clear Idea or intention behind the project is the first and the foremost prerequisite for the Initial Coin Offering. One must be very crystal with respect to his project and its implications in the real world. One must be able to differentiate themselves from other similar ongoing projects in the market so the users understand why the project must be supported.

2. After having a clear idea for the reason of existence of a project the entrepreneur’s next step is to create an effective team consisting of developers with a lot of technical knowledge to develop the product, business professionals in order to assist in the marketing and for the development of business model for the product along with the barristers to provide the project with legal assistance with respect to the regulations from the government.

3. Once the entrepreneur is done with the above-mentioned steps, he must have a clear vision of what Blockchain must be applied for his particular project so as to make it as efficient as possible. The structure of the public sale, the number of tokens, along with the time frame for the ICO must be ready at this stage.

4. Development of a user-friendly and technically apt White paper is the next step. The entrepreneur is needed to author a Whitepaper which explains the project in an easy and an effective way for the investors. This is one of the crucial steps, as the White paper is the official document that contains all the legal terms and conditions of the Initial Coin Offering along with the project’s detailed information. The entrepreneur must be able to resonant the project into the investor’s minds for a successful Initial Coin Offering through this.

5. Before making the project open to the public, it is well advised that the entrepreneur reveal it to the industry insiders and some of the close investors so as to get feedback from them and give a facelift to the project. The Entrepreneur might not be able to identify some of the key inherent flaws in his project. Doing this would surely be helpful to him. This group of people might further act as a word of mouth to propagate the project further.

6. A pre-sale can be conducted by raising a limited capital prior to the original Offering. This might help in funding for the developmental as well as legal procedures required to set up the complete ICO. This is, however, is optional.

7. A selected suite of investors can then be targeted to market the project through numerous social media tools. The project members can also initiate a discussion on various Bitcoin forums about the application of the project.

8. Finally, the Initial Coin Offering is conducted on the stipulated date. It might also be offered in different phases for a prolonged duration of time to obtain funds consistently.

BLOCKCHAIN

Coinmarketcap vs cryptocompare. Which one is the champ?

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Coinmarketcap vs Cryptocompare: Coinmarketcap and is one of the most reliable one-stop shops for all the answers to the cryptocurrency uncertainties.

Coinmarketcap vs Cryptocompare.

Signing in

Coinmarketcap vs Cryptocompare: The Blockchain technology and the cryptocurrencies are gigantic in nature in a simple person’s frame of reference, but if the same technology is viewed from a slightly different angle, relative to the traditional stock market, the cryptocurrency market seems to be very puny, in its initial stages itself. Each and every cryptocurrency enthusiast encounters a lot of complexities while surfing through the technology. A myriad of new terminologies and more than 1500 variety of cryptocurrencies, renders the users to go in a state of confusion. It is highly difficult for a normal person to compare all the data between various cryptocurrencies and decide which one is the best of all. Therefore, one needs to have a certainly standardized portal which manages all such complexities.

 

Coinmarketcap vs Cryptocompare: Coinmarketcap

Coinmarketcap and is one of the most reliable one-stop shops for all the answers to the cryptocurrency uncertainties. It basically provides almost all the information of the available cryptocurrencies throughout the world and predominantly it’s market capitalization as the name suggests. The market capitalization is the average of a single day and all the data is updated every 5 minutes.  The data source of all the listings at Coinmarketcap is from the average of some of the most important cryptocurrency exchanges throughout the world. The cryptocurrencies which exhibit no transactions is delisted, and a number of prerequisites must be fulfilled for a new cryptocurrency to be listed at Coinmarketcap.

Coinmarketcap vs CryptoCompare: CryptoCompare

CryptoCompare is another such portal which is well known for its comparisons between different entities of the cryptocurrency domain. it is also a platform to discuss the various improvements within the cryptocurrency domain.  It even offers a facility to compare various cryptocurrency coins, initial coin offerings, cryptocurrency wallets, cryptocurrency exchanges, etc side by side to obtain an effective overview for their decision.

There are a number of attributes which each one of the above-mentioned portals is predominantly popular for. Nevertheless, let us try to compare between them, ie Coinmarketcap vs Cryptocompare with respect to different features and requirements.

 

Coinmarketcap vs Cryptocompare: Keeping a constant check on the prices

When we try to compare between these two huge cryptocurrency portals, it is highly challenging to reach some conclusion as both of them are unique in their own ways. But according to some of the cryptocurrency enthusiast due to the simple design of Coinmarketcap, it is highly preferred by most of the cryptocurrency users. In general, coinmarketcap takes an upper hand over CryptoCompare in keeping track of the cryptocurrency prices the real time.

 

Coinmarketcap vs Cryptocompare: Designing an investment portfolio

Many newcomers in the cryptocurrency field rely on cryptocompare in order to find out the best cryptocurrency project to invest in, as cryptocompare provides a side by side comparison of various attributes between the cryptocurrency tokens and coins. Therefore when it comes to investing in cryptocurrency space CryptoCompare seems to steal the LimeLight from Coinmarketcap.  

 

Coinmarketcap vs Cryptocompare: Reliability

It is what engineering that coinmarketcap is Highly popular when compared to the script to compare but there is the certain downside of this particular centralized form of the ecosystem. As it is highly popular most of the listings on this particular portal, has the power to inflict profits or losses within the cryptocurrency Market also. This was clearly evident from many incidents. For an instance, when the Korean exchanges removed from Coinmarketcap’s calculation algorithms, the cryptocurrency space experiences huge fluctuation, as the people perceived a notion that the market was crashing which led to big panic in the ecosystem. Therefore when it comes to reliability, I think we need a decentralized form of the environment to keep track of the cryptocurrency data similar to coinmarketcap or CryptoCompare.

 

Coinmarketcap vs Cryptocompare: conclusion

In a nutshell, it solely depends on the requirements of the users, as Coinmarketcap is highly preferred to keep track of various cryptocurrency listings and CryptoCompare is used for comparison (as the name suggests) between various domains within the cryptocurrency.  But it would still be highly preferable if a decentralized form of such a portal is made available, which would go hand in hand with the decentralized cryptocurrency ecosystem.

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#Blockchain

Ethereum Name Service. How to buy Ethereum Domains Explained

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Using Ethereum Name Service, One can send Ether to anyone by using their Ethereum name instead of the complex and ambiguous hexadecimal address.

How to avail an Ethereum name through the Ethereum Name Service.

Opening remarks

The blockchain technology has developed cryptocurrencies along with many and other industrial domains. The cryptocurrencies are secured with the amazing cryptographic principles, which in turn contains sets of confusing strings that need to be remembered in the form of public or private keys. Therefore, recalling those public addresses each and every time, while initiating any kind of transaction is highly challenging. Especially, in the case of the Ethereum network, as there are provisions available even for the Decentralized Applications and Smart Contracts. The complexities, in this case, are increased by a number of folds and therefore needs special attention. Intelligently, the experts are trying to attach domain names to each and every address through a decentralized initiative discussed below. Let’s understand Ethereum Name Service and its usage.

 

The Ethereum name service Dapp

Widely popular as Ethereum name service is the paradigm incorporated by the experts in order to eliminate the need of remembering long hexadecimal addresses. By utilizing the amazing functionalities provided by the service, one can send Ether to anyone across the world by using their Ethereum name instead of the complex and ambiguous hexadecimal address. For example instead of remembering the address, ‘0x4cbe5826c0480…’ one can easily replace it with ‘tonystark.eth’. This link establishment between two entities is nothing but Ethereum name service and one needs to buy Ethereum names for their respective addresses, as there might be a lot of competition for the same Ethereum name.

 

What is Ethereum name service actually?

ENS is nothing but an Ethereum based Decentralized applications which launched its main net in May 2017. The decentralized applications offer Ethereum name service which absolutely functions with the assistance of smart contracts.  In brief, the ENS, abbreviation of Ethereum name service, has similar goals to that of the Domain name service of the internet but is completely blockchain-based with a different set of capabilities and requirements.

 

Understanding the process of Ethereum name service

Series of steps must be followed by a cryptocurrency enthusiast, in order to obtain the Ethereum name for the wallet or Smart contract. Ethereum name service is obtained by the users through an auction process. The auction process applied, in this case, is a Vickrey auction process. It is nothing but a variant of sealed bid options where the bidders bid a certain amount on a particular Ethereum name without actually knowing the bid amount of other bidders. In this way, the users are open for an opportunity to bid and avail a precise value of the commodity. The steps to avail Ethereum name service is explained below.

1. The first step of the auction, the user bids a certain amount on an Ethereum name that he/she wishes to buy. This process triggers a three-day window time frame. The Other bidders within the community can bid their respective amount on a number of Ethereum names of their choice within this three day period. It is worth mentioning here that none of the bidders knows about each other, the amount, and the Ethereum names they are betting on. In simple words, the process is completely anonymous.

2. After the first step of obtaining an Ethereum name service is completed reveal period of 2 days is put forth before the bidders when they need to reveal their respective biddings. It is important to reveal their biddings and if they fail to do so, it would result in the complete loss of their amount.

3. After a waiting period of 2 days, the highest bid wins the competition and has to pay the second highest amount, and all the remaining bidders who had revealed their biddings would receive back their amount with a deducted fee of 0.5%. As the whole system is powered by Smart contracts, the funds of the winner are stored in a smart contract until he/she is under the control of that particular Ethereum name.

Interestingly, the winner can hold the Ethereum name under the control and when released back to the ecosystem can avail their complete amount refunded back.

Interfaces offering the Ethereum name service

In order to facilitate, the ease of using the Ethereum name service a number of initiatives have been proposed which can be approached to obtain Ethereum names. Some of the most popular ones which assist the users in utilizing the Ethereum name services are as follows.  

  1. registrar.ens.domains
  2. My Ether Wallet
  3. ETHTools’ ENS integration, etc

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#Blockchain

How to Smartly invest in Ethereum? Explained.

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There are a number of strategies that are applied by professionals in order to invest in Ethereum which would indirectly maximize the return on investment.

Comprehending best tactics to invest in Ethereum

Intro

The decentralized applications, as well as smart contracts, were some of the new functionalities that came into the picture with the initiation of Ethereum Blockchain. These features have opened up opportunities for many cryptocurrency enthusiasts, in order to make the best use of these applications for a better financial system. Although the cryptocurrency market is highly fluctuating in nature, the Investments are estimated to be rising as the time passes by. Invariably it is the investments in the cryptocurrency space itself which would assist the market in gaining maturity. But with keeping regulatory concerns in mind, one must be watchful with their investments based on the geographical location. Let’s see how to smartly invest in Ethereum.

Invest in Ethereum

The world’s second largest cryptocurrency coin, Ethereum has proven to be the most reliable option for the cryptocurrency investment for both the long as well as short-term purposes. The cryptocurrency project is fuelled by the visionary, Vitalik Buterin with an ambition of democratizing the development and sustainment of the decentralized form of apps through the smart contract functionalities. Therefore if one chooses to invest in ethereum then he or she is certainly betting on the decentralized cryptocurrency platform of the future.  

There are a number of strategies that are applied by the cryptocurrency professionals in order to invest in Ethereum which would indirectly maximize the return on investment. There are a number of methods available in the cryptocurrency space in order to invest in Ethereum, by buying them through the broker exchanges or peer to peer exchanges.

 

Broker exchanges to invest in Ethereum

A Broker exchange is a professional cryptocurrency marketplace where the users can effectively invest in ethereum bye buying Ethereum with their traditional Fiat currency. One of the most predominant broker exchange which is most commonly used by the Crypto community is Coinbase. It follows a series of seamless steps in order to invest in Ethereum.

The users need to register themselves with the exchange, verify the identity, deposit funds into their account through the traditional wire transfer method and finally, they would be enabled to buy Ethereum through these funds. Choosing this way to invest in Ethereum is highly preferred as the exchanges are highly experienced, reliable, as well as user-friendly in nature. Therefore, it is one of the perfect places for the beginners to invest in Ethereum.

 

Invest in Ethereum through peer-to-peer exchanges

On the other hand, we have peer-to-peer exchanges which can be opted to invest in Ethereum cryptocurrency. This kind of a marketplace is completely end to end encrypted in nature, as the exchange itself is not involved in the process to invest in Ethereum. In this case, both the buyers and the sellers use the peer to peer exchange, in order to undertake the transaction. Major advantages of this method of invest in Ethereum is that there is no identity verification procedure required, unlike the broker exchanges.

 

Invest in Ethereum little by little at dips

Nevertheless, one of the best strategies ever applied and is also a closely guarded secret by some of the most professional Ethereum investors, is to invest in Ethereum in bits and pieces. According to the experts, the users must not invest in ethereum at once but should be carefully looking out for opportunities to invest in Ethereum. The best situation that one can choose to invest in Ethereum is buying Ethereum at its dips.

The readers are recommended to invest in Ethereum during its fall as the cryptocurrency market would certainly recover over time. Now how am I able to say that with such confidence? It is because Ethereum is the second largest cryptocurrency and whose use case would continue to rise, due to its amazing decentralized applications as well as smart contract facilities.

 

Pro top – decentralized exchanges to invest in Ethereum

There are also decentralized cryptocurrency exchanges which can which can be applied in order to invest in Ethereum. They are usually 100% automated as they completely depend on the smart contract functionalities for all of its uses. It is worth mentioning that, Blockonix is one of the most reliable and safest decentralized Crypto exchange that one can count on.

 

Disclaimer

All the investments are subjected to the market risks. As the crypto market is highly volatile, one must invariably conduct an extensive background check and must be taking only the amount of funds they are willing to lose.

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