IP Gold is kicking off their transfer from the Ethereum blockchain to NEM’s with a generous sale.
The sale will last for 24 hours and start on July 3rd, 2018. The sale will give buyers a 50% bonus on purchasing IP.Gold’s token.
The public event will be held a week later on July 11th, for those that miss out on this 24-hour sale.
IP.Gold cites reasons for the transition to long-term sustainability. While Ethereum quickly became the de facto standard for tokens, the number of tokens relying on Ethereum’s infrastructure will continue to put a strain on transaction capabilities and speeds.
Crypto-Kitties, a tradeable asset that relied on the Ethereum network, slowed down the whole network back in December due to the massive amount of volume it was processing due to a craze for the collectible kittens.
Pending transactions increased by 6-fold during peak, and users shouldn’t have to decide from the success of a token or the success of the underlying transaction. Worrying that the success of your project is preventing other projects on the same infrastructure from conducting business isn’t something that projects should have to worry about.
To add on top of this, Cryptokitties is going mobile which will add further strain from a new influx of users and transactions. While Ethereum has claimed to support an unlimited amount of dApps, the rising in fees (for both Ethereum and Cryptokittes transactions) have raised questions regarding this claim.
With alternative blockchains with smart contract capabilities, better scalability, faster processing speeds, and other advantages, blockchains like NEM’s are becoming viable options for companies looking for existing infrastructure from which to build off.
David Grieshaber, CIO at IP Gold Said:
“The proven scalability, support, and security of the NEM blockchain offers the most future-proof platform for the IPG token and IP Gold community. NEM’s peer-to-peer architecture, proof of importance (POI) algorithm, encryption and multisig account support made it the obvious choice for IP Gold’s long-term goals.”
This is especially important for IP.Golds business model, which is creating an environment for managing digital assets. Monetization comes from every stage of the lifecycle and provides multiple services and data at the same time.
All of this results in numerous transactions, so having a blockchain that can handle this amount of volume is important.
Managing assets is also extremely competitive, so having the absolute lowest fees is also a must. In the traditional investing market, where the difference between a 0.6% and .4% expense ratio can mean thousands of dollars over years, having a blockchain that can handle everything cost effectively is just as important.
For more information about IP.Gold, visit their website. To learn more about the project, read their whitepaper. To talk with team members and community members, check out their subreddit and Telegram channel. Social media updates are made through their Facebook and Twitter accounts. All blog posts will be posted on their Medium.
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