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What to Consider before Launching an ICO Platform?

Per reports, Cryptocurrency market is set to grow at 32.31% CAGR until the year 2023. With such analysis at hand, ICOs and Crypto coins are gaining strong traction in the enterprise and startup landscape. There are hundreds of ICOs in the market and new enterprises are coming up every day. To launch ICO platform, enterprises are through aggressive modes.

Being completely based on digital domain, an ICO is launched globally. A new ICO faces a worldwide competition being on the race with sharply increasing numbers. Stiff business rivalry in the ecosystem makes survival of such entity a tough endeavor.

However, ICOs are still with massive prospects of profitability owning to market worth of cryptocurrencies and allied businesses. By the end of 2018, the worth of this industry is set to reach US $ 1 Trillion. A successful ICO can become a real money miner in the current market, but prospective ICO enterprises need to ascertain their success with a strong business strategy.

 

Here are the primary aspects to consider before launching an ICO. An evaluation of these facets increases the possibility of success in this industry.

  • Evaluation of the necessity of a Token based strategy.
  • Determination of the accurate and adequate technology to implement the token.
  • A strong structure and functioning mechanism of the ICO.
  • Ensuring legal compliance of the ICO’s operation.
  • Ensuring security and protection of the technology.

 

Launch ICO Platform Ensuring Success

These aspects also comprise the basic features of a successful ICO. The enterprises must be sure that an ICO is the most effective way to implement idea and support funding. An ICO is comparable to IPO in terms of public participation and the approach to raise funds. If an enterprise wants to implement a Token, it should ensure that it is the most appropriate way to enter the market.

The technology background of the token must be robust. A token is launched on an existing blockchain. The platform must align with the objectives and functioning of the system. While releasing the ICO for public participation, the technical viability, as well as the business model, must be clearly communicated. Public white papers, information, and codes must prove its technical validity and strength, apart from demonstrating its transparent mechanisms of earning profits for investors.

Furthermore, the system must ensure adequate security provisions against attacks and hacks. The codes must be completely devoid of bugs, the technology should be defensive enough with strong security protocols and the operational strategies should not contain any loophole.

Another primary aspect is the legal compliance of the process.Blockchain-basedd financial systems and technology generally pass through stringent security and financial regulations. Since the technology is complicated and it has immense potential to impact businesses and financial ecosystems, any successful ICO must ensure legal compatibility across at least its primary locations of operation.

 

 

Launch ICO Platform with Oodles Blockchain

Oodles Blockchain is not only provides ICO Development Services, but offers a complete partnership framework to implement and well as manage ICOs. At Oodles Blockchain, we offer services across the board transforming ICO launch as our forte. Our process sets off with a complete understanding of the concept of business and farsighted evaluation of its objectives. We start determining the technologies to the ICO only if the idea can justify an accurate and effective match with the defined objectives.

 

Want to launch a successful ICO? Begin with Oodles Blockchain. Connect with an ICO consultant for free now.

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