Crypto Academy Week 9 - Homework Post for [ lecture by @imagen] ICO (Initial Coin Offering)…
First of all I would like to Welcome you. Welcome to our New Crypto Professor @imagen. One of the best ways to learn about cryptocurrency is through our Steemit Crypto Academy. Which is why I was anxiously waiting for the new week to start. I got a new homework from crypto professor, @imagen in our new week. Hopefully I can complete my homework in a beautiful way. I will discuss today ICO (initial currency proposal) in this part ...
1. WHAT AN ICO IS?
Everything has to start anew. And we have to know that from the very beginning. Cryptocurrency is no exception. It is better to know the definition before anything. We will know what is ICO? The full word for ICO is "Initial Coin Offering". This is an initial currency offer so don't know the initial idea about it. First of all we can say it is a public offer, or its equivalent we can say it is a cryptocurrency industry.
An ICO is an organization that seeks to raise money to create new currencies or applications or services. It was introduced as a way to raise funds. It can only be represented in partnership with an organization or project. Suppose you bought a new coin offer as an investor. And very important to accepted a new cryptocurrency token issued by the company in ICO. The new token's that service. Or there may be some utility in using the service. As I said, it can represent partnership. The ICO works to create new tokens so that it is able to properly fund projects until the blockchain is completed. And it can also be said to be the funding episode of the new token. Through ICO, investors are able to buy such new tokens. And from that token can also earn commendable profits in the future. Investors can easily buy new tokens at a reduced price. And when the coins are added to the exchange, investors can sell the coins at the expected price.
But there is still some work for investors. Because in the case of new coins, many things have to be considered beforehand. And one of them is to have a good white paper. Where you can know in advance about the concept, goal and road map of the project. And there needs to be a team that investors can communicate with. And there are many more reasons why investors have to explore whether the team has a successful project before.
differences between ICO and IEO
| No | IEO | ICO |
|---|---|---|
| 01 | Initial Exchange Offering | Initial Coin Offering |
| 02 | IEO verifies the identity of all members | ICO does not verify the identities of members. |
| 03 | This is not possible for IEO. IEO is complicated to know all the information | Anyone can use ICO. Scammers can vanish after making a lot of money using them. |
| 04 | IEO are hosted by a third party | ICO are not hosted by a third party. |
| 05 | The token sells out in a very short time and it runs out very quickly. Therefore, many people who have joined Tokensale are not able to collect tokens. To overcome this problem, IEO arranges lotteries for | And ICO add a gas fee. |
| 06 | the platform of the exchange | the token issuer's website |
| 07 | cryptocurrency Exchange | project developers |
What are the advantages and disadvantages of ICOs?
advantages
Anyone can buy iCO token very easily. There are no barriers in this regard. And you don't need any verification to buy tokens.
And the best advantage of ICO Token is that you can buy this token at a very low price. And if you wait patiently, the value of the token will skyrocket. There are many times when the value of the token increases almost +100.
ICO is a good place where you can easily invest./secure/save.
disadvantages
Since very easily anyone can purchase ICO tokens. Due to which scammer can use this token very easily.
Scammers can easily get ICO token information. Which is why scammers can vanish to make money as they wish.
ICO tokens can be hacked very easily. That's why investor lost her money easily.
IOTA ICO
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The first thing that comes to mind when discussing IOTA is IOTA is the pricing between humans and machines and an online woom network for data exchange. IOTA is primarily designed to support non-friction data and quality transfer. IOTA is not a block or a mine. Whenever you complete a transaction through IOTA it means you are validating two more transactions. IOTA always believes that it cannot be deceived or betrayed in any way. It can be used when IOTA online communication is off. It contains temper-proof data and useless micro-transactions or short company requirements on the IOTA network.
- A scable dlt,Highly scalable
- A trust layer,Low resource requirements
- Open source, feeless,Zero-fee transactions
- A protocol for IOT ,Optional Quantum Robustness, Distributed
Conclusion,
Knowing about ICO, I understood very well that investing in ICO is very easy and very profitable. Because anyone in ICO can make good profit by investing. However, before investing, I would like to ask investors to know more about the project. The white paper road map of the project should be thoroughly verified. Because after the investment, there is no way to compensate for the loss. So I think it's wise to be cautious about anything. Thank you again our professor @imagen because tech us a beautiful lessons.
Cc: @steemcurator01
Cc: @steemcurator02
Cc: @steemitblog
Cc: @imagen
Written by; @shajj
Hola @shajj
Gracias por participar en la Academia Cripto de Steemit.
Buen trabajo @shajj. En la publicación oficial de la clase encontrarás la escala de estimación y sus puntajes.
Por cierto no nos brindaste datos acerca de la ICO de IOTA. Como por ejemplo: ¿Cuándo se llevó a cabo? ¿Que precio tenía cada token? ¿Que cantidad de token se distribuyeron? ¿Cuánto se recaudó?...
Gracias por tu esfuerzo, espero seguir leyendo tus tareas.
Calificación: 7.1
Thank you so much sir.. next time I will be try to have a more effort