Which ICO Platform is the Best for Your Crypto Project in 2018?
Do you have an idea for an incredibly cool blockchain project but there is no money to implement it? Maybe you need a token with a complex payout system but you do not know how to code it. Before you know it, you’re wondering where you would create your ICO? Where does the launch happen and how does it work? Today we’ll learn about what ICO Platform choices exist today so you can determine which one is best for your project!
The number of new projects in the blockchain field is constantly growing. This is because Increasingly, start ups are abandoning traditional venture financing and are attracting funds through a new technology – the initial coin offering, or ICO.
The top ICO platform for startups and token releases is Ethereum. It was created for projects that require smart contracts and is now a fairly reliable tool. Implementation on the Ethereum ICO platform, however, involves creating a token from scratch with the desired system of payments with all the functionality. This takes time, effort, and money. At the same time, there are platforms that make it possible to realize the functions required for the project much easier because they offerready-made technical solutions.
The market is constantly trying to get new projects of this type. Some of them are still in development while others have not yet earned a reputation. We’ve created an ICO platform list, where the most successful ICO projects were located.
Waves ICO Platform
The Waves ICO platform is one of the most famous in the cryptocurrency community. Over a year since its founding, dozens of projects have been launched on Waves. For example, the ICO project Primalbase raised $5 million in less than a day using the Waves platform. In addition, Waves operates as a decentralized exchange with a trading volume of about $600 thousand a day.
The Waves ICO platform provides services for the release of tokens based on its own blockchain, which uses the Proof-of-Stake algorithm. The possibilities for setting up digital assets on the platform are somewhat limited at this time. You can add only additional emissions, but in the future, developers promise to support voting and reputation systems, as well as the ability to exchange encoded messages. An additional feature is the Tokens Flexibility system. It allows token issuers to decide for themselves whether the network fee for transactions will be charged in Waves or in their new coins. This makes it possible to create your own closed infrastructure for the project.
The Japanese ICO platform NEM appeared on the market just one year ago but has already gained huge popularity. By the principle of its work, is probably the most original one among all existing platforms. The platform uses its own blockchain technology called Proof-of-Importance. The peculiarity of such a network is that the transactions are confirmed not by the nodes that have the greatest computing power, but by those that are of the most importance in the network. The importance is determined by the number of tokens that the node owns, as well as the number of transactions it performs. Blockchain NEM combines the advantages of the technologies on which Bitcoin and Ether are based. It can be used to authenticate, send encrypted messages, and organize smart contracts. In addition, the blockchain for this platform has a built-in multisig wallet.
An anonymous author created the NXT platform with Proof-of-Stake technology in 2013. Now, the control over it belongs to the nonprofit organization Nxt Foundation, located in the Netherlands. Besides releasing tokens, the platform also works as a decentralized exchange with a daily turnover of about $40,000 per day. In addition to the ability to store data and conduct voting, NXT offers several original solutions. It has an original system of aliases that allows replacing addresses in the blockchain system into more user-friendly words or phrases. This allows, in particular, implementing the option of decentralized DNS based on this platform.
In addition, NXT supports plug-ins from third-party developers, which allows changing it for your project in case of need. ICO organizers can adjust the parameters of tokens within wide limits. For example, they can be non-tradeable or have the opportunity for mining and establish its complexity.
The Counterparty ICO fundraising platform began operations in 2014. During this time, Counterparty has become a platform for many ICOs, including the well-known Storj data warehouse. Like many other platforms, it operates as a decentralized exchange, although with a small turnover – about $10 thousand a day. The platform belongs to a relatively rare breed. It works on the bitcoin blockchain. For this reason, each transaction also requires (in addition to the internal currency of the platform XCP) some bitcoins to pay costs. On the basis of the token, you can implement a crowdfunding campaign, a voting system, or you can use it to create a decentralized app. Nodes that receive fees for transactions also support the network. All of this may make Counterparty one of the best platforms to launch an ICO.
BitShares is a US-based ICO fuding platform with a long history. Since 2013, the platform managed to completely change its architecture several times. Modern BitShares is a decentralized exchange with a daily turnover of more than $1 million. It is also a platform for creating smart contracts on the Proof-of-Stake protocol. The unique feature of BitShares as an exchange is that it trades not the assets themselves but their derivatives, which are provided with assets in a one-to-one ratio. For all operations of buying, selling and issuing tokens, Bitshares charges fees in its own cryptocurrency, BTS.
In conclusion of our ICO platform overview, we should say that that the choice of platform is important both for the developer of the project and for the potential investor. Developers have the opportunity to declare themselves to a wide range of users from all over the world and to improve cryptocurrency ethics by observing the rules of the platform. Investors, on the other hand, have nominal guarantees of the seriousness of the offering. Placement of an ICO on one of the world’s platforms is not a 100% guarantee of success, but it’s a good start.