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Guide to Initial Coin Offerings in Martinsburg, WV

 

Guide to introducing an Initial Coin Offering (ICO) in Martinsburg, West Virginia.

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 used for, and what enters into releasing an ICO– from a job’s perspective.

Disclaimer: This is not to be construed as financial investment or legal advice, however rather meant as a template to reveal the procedure behind an ICO, and what a task’s stakeholders (team, board, stakeholders) need to consider when performing an ICO.

Provided the blockchain industry is fairly brand-new, there isn’t a great deal of info on the topic (from a task’s point of view), 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 gathered about the ICO process, with input from people who experienced the process first hand.

If you want to add to this guide, or have any tips, do not hesitate to make tips here:.

Pre-planning

The biggest two concerns you need to think of first are:.

  • Exactly what is the function of the token?
  • Are you sure you wish to do an ICO?

Token: Considerations for 

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

If your application does not need to be built on top of a blockchain protocol, you ought to concentrate prior to moving forward. For example, the computational expenses of building an application on top of Ethereum is far more pricey than something like AWS. You need to have a strong factor for why you are building a decentralized application vs. a central application.

If you are uncertain whether your application must be built on the blockchain or not, you should do more research and spend more time learning about Bitcoin and Ethereum. Developing a decentralized application is fundamentally various than an application using client-server architecture, and you’ll need to fully understand the components of a blockchain and what can be built on top of this brand-new architecture.

{ICO|Initial Coin Offerings in Martinsburg, WV 25401

An ICO is essentially various than raising money through VC’s or other traditional ways.

On one-hand, you are offering future use of your platform (not giving up equity). On the other-hand, you are becoming a public business on the first day. You’ll have a big community you’ll need to manage post-ICO, and you need to ensure you want to handle this concern in advance.

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

  • Everything you do and all the actions you take will be shown in the cost of the token.
  • Your team will get bombarded non-stop, several times a day, with questions about the price of your token.
    You’ll have to be a global company from the first day.
  • All your internal group discussions will likely be pressed openly.
  • There will be great tension in trying to build things that are long-term valuable vs. short-term important.
  • If your product isn’t really open sourced currently, there will be a huge backlash to become entirely open sourced. There is a strong expectation that lots of blockchain projects are open-sourced tasks.
  • In general, cryptocurrency tasks are way more public/transparent than normal start-ups, or perhaps traditional public business.

In general, great blockchain jobs look and function far more like open-sourced software application jobs vs. standard tech businesses. You and your group will need to choose both whether your application makes good sense to be built on a blockchain + you want to run as a transparent and open company.

Marketing is insufficient, people have to know and trust your abilities.

Much of these early ICO’s were performed by deep stack blockchain developers that became part of the core crypto community, with high track record and performance history. The ICOs that sold out fast and fast did not come out of thin air. Early token financiers– who by the way were also part of the core crypto community– understood these designers well, and trusted them, as their respective item idea had been gone over and peer evaluated for many months over Reddit, Twitter, Slack, Bitcoin Talk, numerous crypto podcasts, etc.


Whitepaper

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

Reliable technical roadmap.
Possible service roadmap.
Clear tokendistribution design.
You can take your effort one action further and release a technical paper like the Ethereum’s Yellow paper or Zcash’s technical whitepaper. These documents give a more insight into the technical execution and are only aimed at individuals with deep understanding of blockchain technology. They offer more credibility to your tech understand how, and allow for online swarm review. Technical documents have up until now mainly been utilized for blockchain token sales and not for dApps token sales.

Prototype – Martinsburg WV 25401

You will be more trustworthy if you already have a product model. Encourage individuals to visit your GitHub page and play with the code. Please note, tasks without a single line of code raise numerous red flags in the eyes of investors. If your name is not Vitalk Buterin or Gavin Wood– just using examples here– you might have issues raising money just with a white paper.