Guide to ICOs in Orangeburg, SC

 

Overview of introducing an Initial Coin Offering (ICO) in Orangeburg, South Carolina.

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 kinds of business an ICO can be utilized for, and what enters into launching an ICO– from a task’s viewpoint.

Disclaimer: This is not to be interpreted as financial investment or legal recommendations, but rather meant as a design template to reveal the process behind an ICO, and exactly what a project’s stakeholders (group, board, stakeholders) should consider when conducting an ICO.

Given the blockchain industry is reasonably new, there isn’t really a whole lot of information on the subject (from a job’s perspective), and with each brand-new ICO, teams are learning best practices on what to do and what not to do. Below is a guide of all the details we collected about the ICO process, with input from people who experienced the process first hand.

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

Pre-planning

The biggest two questions you need to consider first are:.

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

Token: Considerations for 

  • What is the purpose of the token?
  • What function or utility does it perform?
  • Is the token definitely essential?
  • Why does your project have to be on the blockchain?
  • Can you describe a feasible financial model behind it?

If your application doesn’t have to be built on top of a blockchain protocol, you should think hard prior to moving on. For instance, the computational expenses of constructing an application on top of Ethereum is far more costly than something like AWS. You have to have a strong reason for why you are constructing a decentralized application vs. a centralized application.

If you are uncertain whether your application should be built on the blockchain or not, you must do more research and spend more time discovering Bitcoin and Ethereum. Building a decentralized application is essentially different than an application utilizing client-server architecture, and you’ll have to fully understand the components of a blockchain and exactly what can be built on top of this brand-new architecture.

{ICO|Initial Coin Offerings in Orangeburg, SC 29115

An ICO is basically various than raising money through VC’s or other conventional ways.

On one-hand, you are offering future use of your platform (not quiting equity). On the other-hand, you are ending up being a public company on day one. You’ll have a huge neighborhood you’ll have to handle post-ICO, and you have to make certain you wish to handle this burden ahead of time.

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

  • Whatever you do and all the actions you take will be shown in the rate of the token.
  • Your group will get bombarded non-stop, several times a day, with concerns about the cost of your token.
    You’ll need to be an international company from the first day.
  • All of your internal group discussions will likely be pushed openly.
  • There will be great stress in attempting to build things that are long-term valuable vs. short-term valuable.
  • If your item isn’t open sourced already, there will be a huge reaction to become completely open sourced. There is a strong expectation that many blockchain jobs are open-sourced tasks.
  • In general, cryptocurrency projects are way more public/transparent than normal startups, and even traditional public business.

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

Marketing is not enough, individuals need to know and trust your skills.

A number of these early ICO’s were conducted by deep stack blockchain developers 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 investors– who by the way were also part of the core crypto community– knew these designers well, and trusted them, as their respective product concept had been discussed and peer evaluated for many months over Reddit, Twitter, Slack, Bitcoin Talk, different crypto podcasts, etc.


Whitepaper

White documents are business strategies of the Web3 with which teams aim to raise your funds, typically before having a prototype. Writing an excellent whitepaper is the primary task for every single team. Prevent contracting out the writing to third parties. If you want people to take you seriously, you have to include the whole team: from core devs to your sales people. You need a semi-technical description of how your job works and an easy to understand walk through for non-techies. The whitepaper needs to be appealing to investors with no technical knowledge and developers alike. It has to include:.

Trustworthy technical roadmap.
Possible service roadmap.
Clear tokendistribution model.
You can take your effort one step even more and release a technical paper like the Ethereum’s Yellow paper or Zcash’s technical whitepaper. These papers give an additional insight into the technical application and are just aimed at individuals with deep understanding of blockchain technology. They give more credibility to your tech know how, and allow for online swarm review. Technical papers have up until now primarily been utilized for blockchain token sales and not for dApps token sales.

Prototype – Orangeburg SC 29115

You will be more trustworthy if you already have an item prototype. Encourage individuals to visit your GitHub page and have fun with the code. Please note, tasks without a single line of code raise numerous red flags in the eyes of financiers. If your name is not Vitalk Buterin or Gavin Wood– simply using examples here– you might have problems raising money only with a white paper.