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Guide to ICOs in Resaca, GA

 

Guide to releasing an Initial Coin Offering (ICO) in Resaca, Georgia.

There has been a lot of confusion on what an initial coin offering is (ICO– likewise in some cases called a token generation event or token sale), what sort of companies an ICO can be utilized for, and what enters into introducing an ICO– from a task’s viewpoint.

Disclaimer: This is not to be construed as financial investment or legal advice, but rather meant as a template to reveal the process behind an ICO, and exactly what a task’s stakeholders (group, board, stakeholders) should think about when performing an ICO.

Given the blockchain industry is fairly new, there isn’t a great deal of info on the topic (from a task’s perspective), and with each new ICO, groups are learning finest practices on what to do and what not to do. Below is a guide of all the information we collected about the ICO procedure, with input from individuals who experienced the procedure first hand.

If you want to contribute to this guide, or have any ideas, don’t hesitate to make recommendations here:.

Pre-planning

The greatest two concerns you need to think of initially are:.

  • What is the purpose of the token?
  • Are you sure you wish to do an ICO?

Token: Considerations for 

  • Exactly what is the purpose of the token?
  • What function or energy does it perform?
  • Is the token absolutely required?
  • Why does your project need to be on the blockchain?
  • Can you explain a practical economic model behind it?

If your application doesn’t need to be built on top of a blockchain protocol, you must think hard before moving forward. For example, the computational expenses of constructing an application on top of Ethereum is much more costly than something like AWS. You have to have a strong factor for why you are building a decentralized application vs. a central application.

If you are unsure whether your application should be built on the blockchain or not, you should do more research and invest more time learning more about Bitcoin and Ethereum. Developing a decentralized application is essentially different than an application utilizing client-server architecture, and you’ll have to totally understand the elements of a blockchain and what can be built on top of this new architecture.

{ICO|Initial Coin Offerings in Resaca, GA 30735

An ICO is basically various than raising money through VC’s or other traditional means.

On one-hand, you are selling future use of your platform (not quiting equity). On the other-hand, you are becoming a public business on day one. You’ll have a substantial community you’ll have to manage post-ICO, and you need to make sure you want to deal with this burden beforehand.

Here are a couple of things to remember while analyzing whether your project must do an ICO in the first place:.

  • Everything you do and all the actions you take will be shown in the rate of the token.
  • Your team will get bombarded non-stop, multiple times a day, with questions about the price of your token.
    You’ll need to be a global company from the first day.
  • All of your internal team conversations will likely be pressed openly.
  • There will be fantastic tension in aiming to construct things that are long-term important vs. short-term valuable.
  • If your product isn’t open sourced already, there will be a huge reaction to become completely open sourced. There is a strong expectation that lots of blockchain tasks are open-sourced tasks.
  • In general, cryptocurrency projects are way more public/transparent than typical start-ups, or perhaps conventional public companies.

In general, great blockchain projects look and operate a lot more like open-sourced software application projects vs. standard tech organisations. You and your team will have to choose both whether your application makes sense to be built on a blockchain + you wish to run as a transparent and open business.

Marketing is inadequate, people need to know and trust your abilities.

Many of these early ICO’s were conducted by deep stack blockchain designers that were part of the core crypto neighborhood, with high reputation and track record. The ICOs that sold out quick and quick did not come out of thin air. Early token financiers– who by the way were also part of the core crypto neighborhood– understood these developers well, and trusted them, as their respective product idea had been discussed and peer reviewed for numerous months over Reddit, Twitter, Slack, Bitcoin Talk, various crypto podcasts, etc.


Whitepaper

White documents are business plans of the Web3 with which groups try to raise your funds, frequently prior to having a model. Writing a great whitepaper is the primary task for each team. Avoid outsourcing the writing to 3rd parties. If you desire people to take you seriously, you need to involve the entire group: from core devs to your sales individuals. You need a semi-technical description of how your job works and an easy to understand walk through for non-techies. The whitepaper should be appealing to financiers with no technical knowledge and developers alike. It has to consist of:.

Credible technical roadmap.
Possible company roadmap.
Clear tokendistribution model.
You can take your effort one step further and launch a technical paper like the Ethereum’s Yellow paper or Zcash’s technical whitepaper. These papers offer a more insight into the technical implementation and are only targeted at people with deep understanding of blockchain innovation. They offer more credibility to your tech know how, and allow for online swarm review. Technical papers have so far primarily been used for blockchain token sales and not for dApps token sales.

Prototype – Resaca GA 30735

You will be more reliable if you already have an item model. Motivate individuals to visit your GitHub page and have fun with the code. Please note, jobs without a single line of code raise lots of warnings in the eyes of financiers. If your name is not Vitalk Buterin or Gavin Wood– just utilizing examples here– you might have issues raising money just with a white paper.