What is theICO Platform?
A cryptocoin, or cryptobank, is a group of binary data that is designed to function as a public medium of monetary exchange. Cryptocurrency is one of the most rapidly growing trends in financial services and technology today. It represents an innovation on the traditional payment methods, as well as provides a solution for a new marketplace. The cryptobank can be used to issue digital currency, such as Litecoin, Dogecoin, and Featherstone, through the Internet, as well as mobile phones.
Unlike previous networks such as the MMBT or the QR codes, which were susceptible to jamming and errors, Cryptocurrencies are designed with tamper-proof security measures. Transactions are secured by cryptographic guarantees instead of digital signatures. This increases the security of the network, as there is no need to rely on weak keys or passwords to transact. The biggest benefit of using Cryptocurrencies, is the low costs involved. A typical transaction can go as low as 0.0015btc, or less than $0.00 cents.
There are several distinct currencies being used in the Cryptocurrency Market. Currently, the most well known and popular Cryptocurrency is Dash, which has recently surpassed the top three in market cap. Others include Omisego, LTC, and Monero. As the market evolves and grows, other currencies will likely emerge; however, for the time being, these are the most popular cryptosurfies.
In contrast to previous networks such as the MMBT, which included a central authority and process for legitimacy, the Cryptocurrencies are self-managing and self-executing. The primary difference between Cryptocurrencies and traditional currencies is that with Cryptocurrencies, you have the ability to make and receive payments without needing to trust a third party. This is in contrast to traditional money that needs to have a third party to trust before transactions occur. With this feature, users enjoy complete privacy and freedom when making transactions. Also, because no central authority controls the supply or demand of cryptographic units, there is never a worry about inflation or a central agency regulating the supply or price.
With theICO Platform,ICO owners will be able to sendICO Crowdsale proceeds to their own private wallets. TheICO Platform will provide proof-of-work (PoW) to theICO network. Just like with a traditional PoW system, an adequate amount of computing power is required in order to validate the existence of the transactions. Computing power is acquired through proof-of-work. Once enough proof-of-work has been accumulated, the owners of theICO Platform will be able to sendICO Crowdsale proceeds to their private wallets.
The goal of this article is to describe how theICO Platform can be used to accomplish the goals of anyICO Firm. Although it is unfortunate thatICO owners are forced to trade withICO Firm participants who control large amounts of virtual currency, this solution provides a good solution for smaller traders as well. The use ofICO Firm public keys to sign transactions simplifies the verification process and makes it possible to transferICO Funds without involving a third party. With this solution, we hope to see more businesses adopt the use of cryptocurrencies as the industry leader.