Blockchain startup CoinCrowd is a new platform that seeks to bring a much-need boost of fairness and transparency to the token generation industry. Currently blighted by daily scams and fraudulent token sales, the industry is in need of a shakeup to repair its tarnished reputation.
And now, such scams and frauds have their days numbered, with a breakthrough protocol in the shape of CoinCrowd that prioritizes security and fairness, to change the way we view token sales for the better.
The team behind CoinCrowd has spent more than a year building a technological architecture that aims to bring token sales into a new standard, dubbed the DAICO. Its main improvement will be to incorporate some aspects of DAOs, as first suggested by Ethereum co-founder Vitalik Buterin, to make token sales more secure by getting contributors to get involved in the initial process of project development.
Launching DAICOs will be a simple process, with automatic generation of smart contracts on a token sale platform. Participants are guaranteed by a Milestone Control System that automatically releases tokens collected at predefined targets. At the same time, token holders are able to vote for refunds of contributions should progress made by developers not be satisfactory.
All DAICOs generated via CoinCrowd’s protocol are also automatically listed into its own decentralized exchange, finally giving users an immediate and safe platform to trade. All critical processes such as the management of private keys and settlement of assets will be decentralized, and can still use off-chain book orders and matching engines to execute transactions.
Available on both mobile and desktop, the exchange will open a wide range of accessibility to all users on a global scale.
The CoinCrowd Wallet is a one-stop crypto management tool designed for ease of use at all the various token sale phases. Users can trade multiple coins and tokens, join token sales, manage KYC processes and convert fiat currency – with multiple accounts as needed.
The wallet will be compatible with ENS, defined resolutions for Ethereum addresses.
All this will be possible while benefiting from the best in security, secured by biometric identification and user pin access, with private keys kept only with owners.
Just as Ether is to Ethereum, XCC will be the gas powering the CoinCrowd ecosystem. The protocol will be open source to help with mass adoption, and the fees generated by the exchange will be used to burn tokens. This dual action of increasing adoption and decreasing supply is expected to put valuation pressure on existing tokens for a more rewarding experience for long-term holders.
After the March release of the wallet, CoinCrowd is now making available a DAICO protocol prototype, which can be witnessed in action for the upcoming CoinCrowd token sale – one of the first DAICOs to ever be launched.
To participate in the token sale, join the whitelist. To learn more about CoinCrowd, visit the website or read the whitepaper. Chat with the team on the CoinCrowd Telegram channel or CoinCrowd Twitter account, or CoinCrowd Facebook page.
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