ICOVO Review – Platform Implementing DAICO

in #blockchain • 6 years ago

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Hello everyone has come back to my channel.
Today I introduce to everyone a new project is

ICOVO is the world’s first and only ICO platform that can actualize healthy ICOs. The core of its service is the DAICOVO smart contract, which is based on the concept of DAICO, which was advocated by Ethereum co-founder Vitalik Buterin in January 2018. Each country’s government is advancing regulation in order to create a healthy environment for ICOs, but this is difficult to achieve for borderless ICOs using only centralized regulation. We will solve fraud and decrease in project motivation – the problems raised by ICOs – through the decentralized approach of DAICO.

ICOVO aims to solve this problem by using an autonomously operating system that does not depend on individual expertise. The system is a hybrid of the centralized client-server model and a decentralized P2P model featuring majority consensus. The centralized system is used to increase the transparency of ICO planners and projects. Specifically, this is achieved as planners’ identities are confirmed through ID verification and GitHub updates are quantified and displayed on ICOVO Web to make the actual status of the project more transparent. The decentralized system is used to prevent scams where ICO planners immediately withdraw funds and disappear after token sales. Fraud is prevented through DAICOVO, an implementation of DAICO.

DAICOVO implements a mechanism that allows project founders to withdraw procured funds only after reaching milestones in their capital-raising timeline. For example, it is possible to enable project team members or contributors to withdraw only 20% of the total at the initial procurement stage, 20% after releasing the beta-version of the product, 20% after the official release, and the remaining 20% after successfully promoting the product. As a result of providing incentives for project founders to release products after the end of the token sale, motivation remains high and project durability is increased.

#cryptocurrency #tokensale #daico
6 years ago in #blockchain by
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