Stages in the Development of an ICO
ICO DEVELOPMENT PLAN
ICO (Initial Coin Offering) is a public crowd sale process that is inevitable for any startup business to raise its capital in an instant manner. When a new project or business wants to improve its growth rates, it can launch an ICO, thereby selling its tokens in exchange for the standard crypto currency tokens like Bitcoin, or Ethereum. The tremendous returns gained by the ICO investors in the recent years have enhanced the interest of investors in making investments with ICOs.
In order for the development of an ICO, the concerned company must create a plan, which is usually denoted as an ICO developmental plan. Such plan should describe the following necessary details:
• An overview stating what the project is all about
• How much of money is required for the entire project
• What kind of money is accepted by the project
• How much of tokens that the investors can hold themselves and
• How long will the project hardly take for its completion and operation.
SMART CONTRACT DEVELOPMENT
The backbone of any ICO process is the smart contract (crypto contract) development, since it facilitates the execution of legal transactions within the block chain system. Smart contract is a tiny decentralized and transparent application that is created over a distributed public block chain ledger. It primarily accounts for the effective token distribution, dividend payouts and smoother and automated transactions. It avoids the interference of third party or middleman services into the system by acting as a direct intermediate between the two parties, which exchange their services
The primary aim of smart contract development in an ICO process is to ensure security and speed for all the transactions made by the ICO investors. For a perfect smart contract development, the business should necessarily take enough time and resource for the execution and testing of better quality codes.
At the earlier stages of smart contract invention in 1994, there was no enough popularity for its usage among the investors and business owners, since digital strategies were not that much familiar at that time. But with today’s digital world, the technology of smart contracts have gained immense familiarity, since because of the modernization and advancement in block chain technologies.
A wide variety of platforms support the creation of smart contracts, but the most prominent one is the Ethereum.
Smart contract development helps businesses in expanding their business horizons with customized smart contract solution, thereby making their business procedures simper and easier than before.
ERC20 TOKEN DEVELOPMENT
Creation and implementation of new tokens for an ICO development process requires ERC20 standard, which is basically a technical standard utilized for the block chain smart contract. Every token that is created for an ICO process should be strictly compliant to the ERC20 standards in nature.
ERC20 compliance refers to the adherence of specific set of rules and regulations that need to be followed by the Ethereum tokens that are found inside an Ethereum environment. ERC20 standards permit the developers to portray the interactions that take place between the tokens. Such interactions might either be related to the transfer of tokens or data accesses within the tokens.
An ERC20 compatible token is a type of digital currency built across the ethereum platform with ultimate level of reliability and security.
LANDING PAGE CREATION
Efficient land page creation is a vital part for any ICO launch, since a poor landing page would certainly affect the fundraising aspects of your business venture. The basic things to be considered here include a qualified team of professionals, a perfect plan and marketing strategy and a great idea. Though we have all of the above mentioned aspects, we still have a risk of losing the potential and targeted investors, if we don’t have a focus on keeping the visitors on our website page long enough. This requires publishing quality and understandable content on your website, thereby making the visitors to stay on the page for a considerable amount of time.
While creating an ICO landing page, the designer should incorporate the project mission in the header part. The reason is that it is a key to attract potential investors by making them to have an instant sense over their future investments. Moreover, the designer should have clarity on the usage of colors, fonts, pictures and photos, in order to make the landing page professional and highly-attractive.
MULTICRYPTOCURRENCY PAYMENT/FIAT CURRENCY PAYMENT SUPPORT
Simpler, efficient and smoother payment transactions can be facilitated in an ICO by the development of payment support. This is made possible with the selection of a better payment service provider, who can be able to deliver an uninterrupted payment support in the system. A crypto or fiat payment support allows the consumers to make payments in a safe, secure and instant manner. Payment support options are required to eliminate the risks of fraudulence and chargeback issues.
With a reliable payment support, the users can enjoy the following benefits
• Seamless conversion between crypto and fiat currencies
• Integration of wide variety of blockchain currencies like Bitcoin or Ethereum for making payments
• Payment information security
• Multiple payment options via credit or debit transfers or bank wire transfers
• Multi language support
• Multiple wallet support
• Fund control
• Maintenance of transaction history
• Faster transaction rates
Airdrop is a stage of ICO developmental process that accounts for the process of issuing newly created tokens to the users. It simply focuses on the aspect of user engagement and it searches out for the new followers into the ICO process by gaining their attention. This in turn, paves a way for the ICO to acquire a large user base with wider coin disbursement. Hence, it is essential for an ICO to have an airdrop section in it.
Airdrop allows the users to distribute tokens either by publishing the ICO event in airdrop supportive newsletters or bulletin boards or by choosing the recipients in a random manner. A variety of sources (websites and social media platforms) are available at present to make the users aware about the airdrop services. Off course, airdrops act as effective marketing tools for promoting an ICO process.