Steemit Crypto Academy Week 1 Homework post for[@imagen] ICO(Initial Coin Offering)

in hive-108451 •  4 years ago  (edited)


Hello..!!
My Dear Friends,
This is @ariful1998 from 🇧🇩Bangladesh


Assalamu Alaikum. How are you all? Hope all is well in the infinite grace of Allah Ta'ala, the Almighty, the Most Merciful. First of all I would like to thank @imagen sir for presenting a beautiful article. After reading @imagen sir's article I came to know a lot of new information about ICO.


Question no1: Explain in your own words what an ICO is.

What an ICO is?

What_is_an_ico.png

source
ICO is an acronym that means initial coin offering, that is initial coin offer. When a company wants to bring new coins to the market, the company offers some tokens or coins. This method is called ICO. The purpose of the money in the case of ICO is to give birth to a new cryptocurrency in the style of Bitcoin or Etherium. ICO can be a source of capital for any startup company. ICOs prevent startups from investing directly from the public and venture capital intermediaries.

Question no 2:Mention the differences between ICO and IEO

Difference between ICO and IEO

  • Initial exchange offerings give investors confidence and maximum protection in investing. But the initial coin offering does not do that.
  • The initial exchange offering works very fast in trade. On the other hand, initial coin offering are less significant and may not work as quickly.
  • In the initial coin offering, investors have complete control over their funds whereas in the initial exchange offer, investors have minimal control over their funds.

Question no 3:What are the advantages and disadvantages of ICOs?

Advantages of ICOs

  • ICO is the best way to invest in cryptocurrencies.

  • Anyone can purchase tokens at ICO.

  • There is no block / middleman coin sellers to sell coins at ICO. Once a cryptocurrency is created and launched, it can be sold quickly in the market.

  • Many times company coins can be found at much lower prices and sold at higher prices.

  • In ICO, financial participants must get what they want, usually cryptocurrencies grow rapidly and participants in the initial project are more likely to make a higher profit.

Disadvantages of ICOs

  • The biggest problem with ICOs is scams. There are some scam companies that ordinary people don't understand. If someone has invested some amount, then the company accepts it and leaves.
  • Hackers can easily hack ICO tokens. Hackers can easily hack ICO tokens so they can escape with all the money of the investors. As a result, investors also face huge losses.

Question no 4:List at least 1 ICO that is starting,is in development, or has ended. Explain the project of the development team and add information of interest.(Example : IOTA, Spectercoin, Ark)

IOTA

market-analysis-iota-s-ecosystem-get-traction-on-new-partnership-with-jaguar-land-rover-e4a819120ea1712c4f2c21b7e84b6831.jpeg

source

  • IOTA is a distributed distribution sector designed to record transactions between ecosystem machines and devices. The node that IOTA uses to confirm the transaction is called Tangel. The tangel is more efficient than the usual blockchains used in cryptocurrencies. The IOTA project was announced in October 2015. The primary goal of the IOTA project was to develop tannery hardware or low cost and primarily general purpose processors. Criticism of IOTA largely revolves around its technical flaws. IOTA's network phishing attack resulted in the theft of 3.94 million worth of mIOTA. The IOTA network is using a central server until 2020 to secure transactions.

Thank you very much @imagen sir for visiting my post.

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  ·  4 years ago 

Hola @ariful1998

Gracias por participar en la Academia Cripto de Steemit.

Escala de Estimación.Puntaje.
Concepto de ICO.0.5
Diferencias de ICO y IEO.0.4
Ventajas y desventajas.0.6
Explicación de la ICO a elección.0.3
Estructura de la publicación y gramática.1
Seguimiento de reglas.1
Calificación3,8

Una publicación muy incompleta, debes de investigar más. Espero una mejora en tu tarea en mi próxima clase, éxitos!!

Thank you very much @imagen sir. I will try to do my best next time.

  ·  4 years ago (edited)

Dear @steemcurator02 sir, I got this assignment rating point 3.8 . This post will be pay-out after 3 hours. But I haven’t voted on this post yet. Dear @steemcurator02 sir please check my post.