Smart Contracts With ICO-A Turnkey Business Solution for New Digital Assets
The globally accepted bitcoin exchange software solution - Bitdeal now becomes the best technical companion for bitcoin and blockchain entrepreneurs, to execute a successful ICO business platform along with specialized smart contracts solution.
This featured article analyzes the flow of ICO smart contract business system and its classification that tells how bitdeal technical developers enters into the nook and corner of the new fund-raising model.
Business Classification on ICO Smart Contracts
Initial coin offering ( ICO ) now becomes the gold bot for entrepreneurs to raise funds and to release a new cryptocurrency into the blockchain technology. But in order to make a successful ICO and to negotiate the complexities, it should comply with two different smart contracts.
1. Token contracts
2.Crowd selling contracts
The need for classification on smart contract system is to diminish the pitfalls and to prevent the entire ICO campaign from chaos.
Smart Contracts - Token Contracts on Ethereum:
Token contracts define about the method of transferring the tokens and the methods of retrieving the balance amount for particular ethereum address. Aside from that, it also explores the number of associated tokens with an ethereum address. To transact the token between two ethereum addresses a request will be processed based on the written contract.
How to Build Standardized ICO - Token Contracts Business ?
ERC20 is a token standard which describes the functions that an ethereum token contract have to implement.
Why ERC20 to integrate into ICO - token contracts ?
In general, a crypto token or digital token is virtually senseless. It will gain a specific value if the people start using it on other blockchain applications.
Notably, the applications are,
1. Cryptocurrency exchanges (bitstamp, bitfinex).
2. Altcoin or Etherum wallets.
3. Block chain explorers.
In order to make a token to contribute and interact with those applications, ERC20 was developed and implemented. So be sure whether your token smart contracts comply the above standard otherwise it will become a useless attribute in the etherum blockchain.
Bitdeal provides, business software solution for smart contracts which underlies the ERC20 standard. Token smart contracts have the number of tokens and the owners name, but which part will explain the distribution/selling of the tokens? That's why we are going to see about the crowd selling contract.
Smart Contracts - Crowd Selling Contracts On Ethereum.
Crowd selling smart contract contains functionalities.
1. Minimum and maximum cap
2. Commencement and the declaration of crowd sales
3. Detail information about total supply
4. Displaying the offers and bonuses
#1 Min/Max cap :
Minimum Cap it is the goal for minimum target fund to be achieved through the crowd sales.
Maximum Cap it is the goal for the maximum fund to be collected through crowd sales. It’s the actual amount that a crypto project needs to develop and to improve their product
#2 Commencement and the declaration of the crowdsale :
Before the ICO campaigns kickoffs, people should know the star time and end time of the crowd sales.
Declaration of end falls in two different situations, 1. If the time deadline reached or if the Maximum cap reached.
#3 Total supply and market cap:
The popular approach is to determine the supply of crypto tokens before the campaigns commencement.
Pre-calculation of Total supply - > Multiply the targeted maximum cap with the price of a single token
#4 Offers and bonuses:
It is just classical method to attract the investors and to encourage them to participate in the crowd sales.
Here the offer comes in reduction of token price
1. buying on the first day - 30% price off
2 second day to till the end of the second week - 20% price off
3. Till the end of the third week - 10% off
4. After that no offers.
All the above functionalities are let the people know about the crowdsale contract and encourage them to involve in crowd sales. for the sake of greater clearness about the crowd sales, integrate and explore the following things
* Achieved market cap
* Displaying the number of sold tokens
* Details about the transactions or sales
Refer this article to know more about Bitdeal solution for ICO, Smart contracts and
How to start ICO business for smart contacts on ethereum ?
Bitdeal provides the great services to provide software solution for ICO smart contracts business to bitcoin and blockchain entrepreneurs which will comply with standards. The solution provided by bitdeal is to launch an ICO Platform for executing any of your ICO campaign along with exploring the ethereum smart contracts. Raise your targeted fund by launching an ICO platform, create crypto tokens and distribute it to the investors.
Contact bitdeal to get a free quote about the solution or just click for free demo.
Initial Coin Offering, Smart contracts. ICO Smart contracts, Blockchain Smart contracts, Ethereum Smart contracts, Blockchain applications. Ethereum Blockchain.
Bitdeal Exchange Marketplace provides you everything on journey to cross milestones for all kind of cryptocurrency exchange and trading business proposals.
Added we will make conversant with latest offers if you subscribe with us!!!
Bitdeal - bitcoin exchange script as software solution
Start up your own Digital Asset Trading Business by using Bitdeal Exchange Platform.
Bitdeal provides you the best digital currency exchange solution in developing your Bitcoin, Altcoins other digital asset exchange. This software gives Cryptocurrency Wallet services for storage facilities. And Now, Bitdeal - Cryptocurrency Exchange Platform expands its services with Debit Card system, Newest Alt-coins, Block chain, Cloud mining and this update also provides advanced and secured bug fixes!
Check out our Website for the full release notes!!!
It’s no secret that the digitalLearn More