work for the steemit Pakistan Task: | ICO. (Initial Coin Offering) by @ahmadrazaali

in STEEMIT PAKISTAN3 years ago (edited)

Hello everybody,
Hopefully all of you will be good and enjoying your health and time.This is my homework submission post for dear from I have read whole of his post and got it quite nicely.
So, Let's start out today's lecture.

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1. Explain in your own words what an ICO is?

We can define ICO as:
"An initial coin offering or ICO is a new way for companies to raise capitals through cryptocurriencies."
Companies create digital tokens or coins, and sell it to investor in exchange for cash or more likely cryptocurriencies, usually Ether or Bitcoin. Let say I want to set up a bussiness that makes money from my videos.Instead or issuing shares to investors, I will be creating my own digital token.Let's call it XEcoin. Thats what investors will be buying during my highly-anticipated ICO.People who buy my digital token can either trade them for other types of curriencies or use them on my platform once it's up and running.With XECoin you gain exclusive access to my videos.

2.Mention the differences between ICO and IEO

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ICOIEO
a. ICO stands for Initial Coin Offering.a. IEO stands for Initial Exchange Offering.
b. It is a croud funding mechanism by issuing utility tokens or coins on a blockchain platfrom which means that there is use of a token a functional token.b. For IEO you actually issue utility tokens or coins just like ICO but instead you are issuing it via a crypto currency exchange .
c. Liquidity is medium in ICO.c. Liquidity is high in IEO.
d. Governance level is loose in this type.d. Governance level is medium in IEO.
e. Regulation level is low in this type.e. regulation level is normal in this type.

So, these are some differences between ICO and IEO.

3. What are the advantages and disadvantages of ICOs?

There are a lot of benefits as well as disadvantages of ICO(Initial Coin Offering). So lets discuss them on by one.
Advantages:

  • Reduced registration rate for ICO menbers. Members recieve an immediate discount on their registration on token/coin.
  • Tremendous educational opportunities available where ICO members can get a deep insight of the company and its work flow.
  • Members get additional rewards in the form of bonus token/coin.
  • Members become a viral part of the whole ecosystem.

Disadvantages:

  • In ICO company, you are always at the egde of risk that the regulator can chase you anywhere.
  • The funds you raise are very volatile and variable.
  • Most of the ICO investor lose their patience very quickly as compared to that of the traditional investing.
  • The company puts a pressure on you as you are using a million of coins of the company.

So, these are some advantages and disadvantages of the ICO company.

4.Ark Coin

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What is Ark:

The ark platform was launched in 2017 with a infrastructure derived heavily from bitshares crypti and lisc in 2018.It released a 2nd version of the arccore blockchain with a revamp code and many other improvements.
Ark differs in its approach by not only providing a platform that is open source but also allows developers to create their own blockchains with ease.

Ark aims to bring blockchain technology to any wanting to use the technology. They aim to do so by building a decentralized ecosystem on their platform for do-it-yourself blockchain development.

Ark presents itself as an all-in-one blockchain solution. The platform link various chains and allows them to be customized for a broad range of use cases. Ultimately, Ark wants to become the most flexible solution for real-life problems that can be solved by blockchin technology while also making blockchain developments easy and understandable.

The Ark cryptocurrency is mined using a delegated proof of state consensus. the node operators who want to become forgers have to pay 25 Ark to register in the node's selection voting and from there only the top 51 nodes are allowed to create blocks on the system.

the Ark digital currency is accepted on a variety of cryptocurrency exchanges such as Binance and Coss and trading pairs include Ethereum and Bitcoin as well as fiat curriencies like USD and Euro.
So,these are some highlights about the ARK platform.

That's all about today's task. Hopefully all of you will like my this post.

**Thanking dear and hopefully he will review out my homework soon. **

CC;

@steemit-pak
@haidermehdi
@hassanabid
@vvarishayy
@huzaifanaveed1
@event-horizon

Regards: @ahmadrazaali

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