10 Steps to Launch Your Own Successful ICO An Initial Coin Offering refers to a fundraising activity in the cryptocurrency. The ICO can be viewed as an initial public offering using digital funds. This is not an accurate comparison as there are some differences between the two fundraising activities. A company that wants to raise money to create a new currency, app, or service starts an ICO listing service to raise money. Interested investors can buy the offering and receive a new cryptocurrency token to be issued by the company. This token may have some use in the use of the product or service offered by the company, or it may simply represent a stake in the company or project.
Steps to launch ICO White Paper A whitepaper should describe a problem and dedicate a large portion of the document to providing a possible workable solution. Always support your claim of why your solution would work.
Purpose of your token Clarify your purpose regarding your token creation of ICO software development. Do the research of the hard and soft token numbers and their implications. Be careful with unlimited ICOs as people get tired of them. Choose an easy-toremember token.
Terms & Conditions If you want your legal background research early then you should determine your ICO terms and conditions and also decide who can and cannot contribute.
Make a team
If you have a requirement to get skilled developers in your team. The people who have a good knowledge of ICO software development then ensure that you have networked enough to meet the right people.
Decide Token technology It is time to think about blockchain technology that powers your token. At the time of writing, Ethereum is by far the popular and mature platform for ICO software development. Creating Ethereum ERC20 tokens is easy, but implementing custom crowd selling logic around the token may take a bit of thought.
Execute your plan You should decide how many rounds of token sales you want. There are private sales, ICOs, presale, and general sales in which each phase has its different discount structure. If you want to be fair and do not want to allow some people to purchase all the tokens then you should create a whitelist to verify the user’s identity before allowing them to participate.
Token Smart Contracts
At the time of writing the Smart Contract, the Open Zeppelin are very useful to make a secure Crowd Sale and Token Smart Contract. However, be careful if you overuse it, as the contract could bloat and users will have to pay high gas fees for contributing. Always do a lot of testing and auditing when it comes to people’s money.
Hardware Setup If you want to set up the hardware for your ICO development early then you have the requirement of a multi-signature hardware wallet to store the collected funds. This helps in resolving the errors during this process. If you are hosting your website, then you should have the setup of the hosting environment.
Website Your website should be secure and usable with clear directions on how to participate. Many professional websites of ICO have a login system for contributors in which they can manage their accounts and upload any data. If you have a dedicated portal website, you can improve your token sale.
Launch your ICO
Set up all the technical, monetary infrastructure and your smart contract has automated the ICO to start collections. Now is the time to view your work and monitor your ICO activity. Your process of ICO software development may be over, but experts on blockchain and social media will continue to monitor your progress. It is important to maintain communication between you and your followers. You should provide transparent information about your performance.
Conclusion Launching an ICO can be a complicated process and these 10 steps are a starting point for you to begin more research and inquiry. If you are looking for a dedicated organization that would help you to launch your successful ICO, then you can contact us. At Awapal, we are leading a top-rated ICO software development company in India. We offer the best ICO development services to our clients. We will help you to make your ICO successful.
Reference
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https://medium.com/@awapalsolution/10-steps-tolaunch-your-own-successful-ico-d300bc905790