What is ICO and what is the feasible way to launch it?
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Traditional crowdfunding has been the ultimate source to take your business to the next level. But, recent history has different records. Traditional crowdfunding has been reported in many scam cases. One thing to another, and the clients started to lose faith.On the flip side, the blockchain technology has been launching various applications that levitated many sectors to the next level. Speaking of the versatile nature of the Blockchain, it has contributed something significant to the fundraising process. ICO is what we are speaking of.
Initial coin offering (ICO) is a secure and reliable way to raise capital by creating ICO tokens. Capital investments are made by potential investors through the purchase of an ICO token with digital currencies. The tokens are representations of an asset or utility in the blockchain. The tokens are fungible and tradeable. It is considered as one of the most preferred ways for the startups and entrepreneurs to raise funds. Let us look at some of the benefits of launching an ICO.
Benefits of launching an ICO:
Quickness, easiness, efficiency - The process of handling an initial coin offering is easier, cheaper, and faster in comparison to other fundraising mechanisms.
Easy marketing – It can be easily advertised through online marketing.
Engagement of the target audience – You can easily communicate with your
target audience via social networks, blogs, Slack, and Telegram channels.
And much more. So, how to develop and launch ICO for your fundraising?
Any startup can develop and launch an ICO to raise funds. There are no restrictions or eligibility as the blockchain technology is decentralized. Also, it is not a difficult process. All you need is a proper roadmap to launch an ICO.
Here are the steps to launch your own ICO
Conceive your Idea!
It is important to have a genuine reason for carrying out an initial coin offering. In conceivingyour idea, it is necessary to figure out the reason for carrying out your project and to alsomap out the best way to merge the new coin into the project.
Set up an expert team
To launch an initial coin offering and attract serious-minded investors, it is necessary to
have a skilled team of experts in diverse relevant fields. Ideal team members should
have skills in working with cryptocurrencies.
Create crypto tokens
In this step, you get to create ICO tokens that you intend to distribute to your investors and supporters. while creating your token, it is vital to incorporate the total supply, balance of, allowance, transfer, transfer from, Approve functions in the smart contracts.
Write a White paper
A typical white paper should contain the purpose and features you are envisaging from the initial coin offering. In addition to that, a white paper should contain the details of your product, description, commercial applications of the token, etc.,
Ensure security factors
Before launching an ICO, it is important to put up security measures in place to ensure that stakeholders do not lose their funds. Creating an escrow wallet and assuring compensation in the event of project failure can help to enhance the client's trust.
Launch an ICO Website
Generally, launching an ICO website requires enough time and excellent resources. Also, it requires certain factors like the ICO roadmap, the company history, ICO information, media representations, etc., Mainly the website has to keep up with the security features to sustain. Without technical assistance, this is going to be a difficult task. So, if you are a startup willing to raise funds by launching an ICO, the feasible way is to hire the right ICO development company. One such company is Zab technologies. It is a prominent ICO Development company that offers the best services for ICO development.
If you are interested in doing business with them, then feel free to connect with their business experts directly via,