And many of these upcoming startups have ICOs, or token crowdsale events, lined up in the near future.
Thanks to this, most ICOs these days are Ethereum-based, and to participate in the sale, you typically need to exchange your ETH for tokens. Etherisc is a company registered in Germany that is issuing a token that will be known as DIP on the Ethereum blockchain. People who made a lot of money in bitcoin and ethereum are looking for places to store that cash. Reddit – The Reddit crypto community is a hard to win over crowd making Reddit management one of the more challenging aspects of the Community Manager role. If there was just one platform in the world for people to exchange information about upcoming ICOs and cryptocurrency news, it would make marketers’ lives a breeze.
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- Christoph Mussenbroch, Protocol & Architecture
- Stephan Karpischek, Ecosystem & Community
- Renat Khasanshyn, Insurance Products & Revenue
While you might be familiar with some popular cryptocurrencies like Bitcoin and Ethereum, you might not be as familiar with ICOs.
This is because many ICOs are token-based systems built on the Ethereum blockchain. If people are interested in your ICO and think the project is good, they can buy your token for a certain price. The tokens can either have a static pre-determined price or it may increase or decrease depending on how the crowd sale is going. Take Bancor, for example; currently the top dog in terms of money raised via a token sale. Interestingly, unique coins can use the Ethereum blockchain and build their own token network off it.
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A community manager will need to engage with the forums to promote their ICO project.
“When the product launches live, and anyone in the world has easy access to creating a smart token, this will change the face of cryptocurrency adoption. As stated in this document, only 30% of DIP tokens will be available to the public during the token sale. If a major project holds a token sale these days, the Ethereum network goes down. It is a bit like trading Bitcoin for Bitcoin Cash (a unique token built on the bitcoin blockchain), or Ethereum for Ethereum classic. How to launch an ICO… If you are creating an ICO and not investing in one, you need to understand how investors research ICOs.
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TIP: Ethereum is (as of 2018) one of the leading blockchain platforms for ICOs.
ICOs offer “tokens,” thus it is helpful to understand that terminology. All token sale details also need to be made available in one place, and the team should explain clearly their reasoning behind the token allocation model they have chosen. An Initial Coin Offering (ICO) for cryptocurrency is like an Initial Price Offering (IPO) on the stock market, but instead of buying stock in a company you buy digital coins. So the real information of the invoice is only held by the customer and the financier.” MC: Should people who have already bought into ICOs be worried? Most of the ICOs do not maximize their token utility.
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An IPO is an Initial Public Offering — this is a term used when a company first releases their stock onto the stock market.
“Token” stands for “cryptocurrency token.” In other words, token=cryptocurrency=coin (meaning all cryptocurrencies are tokens). If investing in the coins with the highest market caps is risky, and investing in altcoins with low market caps is even riskier then ICOs are even riskier than that. As the advertising bans intensify and the coin launch calendar becomes busier, the ICO community manager will have more responsibility and more power to make or break an ICO. If you ever find an ICO is live but doesn’t have a white paper, I would recommend not buying any tokens from it. Most people get tokens only so they can “HODL” it and buy more bitcoin and ethereum in the future!
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You have to realize that most of the companies that you are investing in, in ICOs barely have anything ready.
If people want to raise money for a project they think will change the world, the least they can do is explain it properly in words. AS: We can argue a lot as to whether one needs to raise money in order to raise more money over a token sale later. When companies list themselves on the stock exchange, people and companies that are interested in the companies can purchase shares in the company for a certain price. It is never good when people who perform independent reviews of cryptocurrency ICOs have to warn the public about certain investments. The market is still expanding, and most new ICO’s, whatever they are called, use Ethereum-based solutions to issue their tokens and roll out smart contracts.