ICO: Pros and Cons

Before we discuss about ICO’s pros and cons, we want to know what is ICO?

You know about ICO? Why We use ICO?What is benefits of ICO?ICO is safe or not?

Inital Coin Offerings (ICO) are the hot new approach raise funds for new cryptocurencies.

The a lot of common use case for associate ICO is that the price they supply to the capitalist which supplies you access to employing a specific project or a service.

Initial Coin Offerings and has raised OVER $1.3 Billion. Positive.com examined ICO project audits from 2017, and located that total investments in ICOs exceeded $5 billion that year, with a lot of expected in 2018. With massive amounts of cash concerned, ICOs area unit a major target for cybercriminals: Of all funds raised last year, 7% — or $300 million — was taken, the report found.

Pros Of ICO:

No Need More Paperwork: If you want to be a part of any ICO, they provide white paper, in the white paper you will get all details about ICO projects. For raising assets through IPOs or crowdfunding the task designers need to experience a considerable measure of printed material and all the more frequently at that point not, they simply don’t get the documentation required to gather stores for their undertaking.

Disclosure for Projects: The publicity that encompasses an ICO can do ponders for the introduction of the undertaking. The more the presentation, the more the general population will think about the undertaking. This builds the quantity of potential speculators.

The way that ICOs are available to the overall population implies that anybody in the ICO business can share on the off chance that they can get stores exchanged on time. It implies the ventures can bring reserves up in a totally decentralized way, which is very vital. More financial specialists from over the world mean there is less centralization, which is the thing that cryptographic money is about.

Cons Of ICO:

Lots of Scammers in ICO: Because there is so little printed material engaged with ICOs it draws in numerous con artists who can just make a sham white paper and snatch a great deal of cash. A few engineers likewise deliberately preclude certain essential points of interest from their white paper to influence their activities to look more engaging than they really are. The greatest result of every one of these tricks is the diminished confidence of people in general in blockchain innovation which can conceivably spell supreme catastrophe.

First of all you investing in the project of ICO as well as you investing in the idea of the project. So basically you read white paper and terms and you are investing in ICO. So you have no idea about project make success or not. Over 80% up project are fail in ICO.

System Congestion: The expanded measure of movement amid ICOs causes a tremendous strain in the blockchain and may bring about a bottleneck. Amid the Status ICO, when they raised a $100 million, there was such a great amount of excess in the system that numerous individuals, who needed to put resources into Status, saw their exchanges fizzle.

Putting away the tokens: There is a possibility that you won’t have the capacity to store a portion of the tokens in any of your crypto-wallets. You can store any tokens made in Ethereum in your ether wallet however tokens made outside of Ethereum can be exceptionally entangled to store.

Also Government not approve ICO because of lots of scammers and not guaranteed money. So this all point tell you cryptocurrency is idea if DaPP and it is outside of government control.

If you are looking For ICO consulting services? We are providing ICO smart contract development services.

ICO: Pros and Cons was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.