Decentralized bitcoin exchange bisq is launching a token but its not an ico cash grab

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There were more than ICOs inand conducting due diligence on all of them would be extremely time-consuming, even for a knowledgeable analyst, let alone an amateur investor. This is compounded by the fact that blockchain is still considered to be an early-stage technology, with new consensus mechanisms and use cases being developed every day. With exponential growth in public interest, esoteric terminology and a lax regulatory framework, it is no surprise that some ICOs have been used to fund scams and cheat investors of their money.

While nothing can compete with quality due diligence, knowing which red flags to look for in order to steer clear of scams or bad ICOs can be helpful. Not every venture needs a blockchain, and not everything needs to be decentralized. This might seem obvious, but with all the hype around blockchain technology and its disruptive potential, it can be easy to latch on to an idea the moment its whitepaper mentions a large industry the project is purportedly tackling.

Even projects that require cryptocurrencies as payment e. When evaluating an ICO, a good first question to ask is: Empty repositories for open-source projects. One of the key traits of many public blockchain projects is the fact that they are open-sourced. This means the code base is often uploaded to repositories like GitHub for all to examine.

One of the most obvious red flags for a scam project is the lack of detail on how the technology works. For nontechnical investors, it can be helpful to simply check if a project has any existing files uploaded to public repositories or if a project has a functioning product.

While Reddit is generally not an advisable source for investment advice, sub-threads dedicated to discussions of specific ICOs or decentralized bitcoin exchange bisq is launching a token but its not an ico cash grab assets often offer a good entry point for the more technical evaluations.

While not always an accurate litmus test for scams on their own, the supply schedule and mining structure of an ICO can be used to cross-reference other data points and validate the decentralized bitcoin exchange bisq is launching a token but its not an ico cash grab of the founders.

In simple terms, a premine refers to when a portion of the tokens for a crypto project is made available to a small group prior to being made publicly available.

At times, this can be a necessary vehicle to reward developers and early investors. However, if the percentage of total tokens supplied throughout the lifetime of the project reserved for a premine is high, there is reason for concern.

Understanding who is on the team behind a blockchain project is perhaps the most important step in your due diligence. It is often a red flag if the team behind an ICO does not have any named full-time developers. Additional caution should be taken if none of the leadership team has any domain knowledge in the specific vertical. When looking at a team and verifying their experience, platforms like Twitter and LinkedIn are useful. If members of the team claim prior association with universities or companies, double-checking with reputable third-party sources e.

ICOs often list their advisors on their websites. You should also verify whether the advisors are legitimate. If something seems like a scam, it probably is. When you are unsure whether a project is a scam, it is better to err on the side of caution. While it is possible that the lack of well-designed websites and detailed information for a crypto project is because the project is still in its infancy, it can be hard to determine whether a project is underdeveloped or a scam.

In many cases, they can be both. In those cases, interested investors can either wait for more information such as in the case of Asia-based ICOs, where information is only translated into English later on in the projector simply avoid ICOs they do not fully understand. Another crucial source of information for all ICOs is the whitepaper — the document that outlines the mission, technical details, team and other crucial details behind the venture.

While the amateur investor may not have the technical background to fully understand every aspect of a whitepaper, general understanding of blockchain concepts is a must when evaluating whitepapers. Some more legitimate projects e. Ethereum offer decentralized bitcoin exchange bisq is launching a token but its not an ico cash grab high-level whitepaper decentralized bitcoin exchange bisq is launching a token but its not an ico cash grab the key points of the venture, alongside a detailed technical document that explains the technology behind the project.

The lack of a clear roadmap could indicate that the developing team has no long-term plan for the project, and as such is likely to be motivated solely by short-term financial gain. Paired with a large premine reserved for the developing team, this could be a strong indicator that an ICO project is not to be trusted with your money.

Through periodic updates distributed on these channels, potential investors can get a sense of how the project is developing. However, malicious scammers can easily create a timeline out of thin air or provide fake updates on chat apps. While the lack of a timeline is certainly a red flag, the existence of one is not a wholly sufficient condition to indicate the legitimacy of an ICO project.

Deep Patel is a serial entrepreneur, marketer and the author of A Paperboy's Fable: The 11 Principles of Success. More posts by this contributor UPS bets on blockchain as the future of the trillion-dollar shipping industry Business in the age of Ethereum.

Nothing can compete with quality due diligence.

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Lancechain is creating a marketplace where freelancers and clients can interact together. The highlights are that it's much better than conventional markets. There is zero commission, meaning the site doesn't take any money, the payment system is faster than conventional ones, it is more transparent, since every transaction is done on the blockchain, and it is much safer since the money is stored in a smart contract enabled escrow until the deal is complete. Ok so the first thing I wanted to check after I found out about this project was the team behind it.

Scanning through, one name that caught my attention was Richard Trummer. Now many of you may not know him, in fact a whole lot of you will not know him, but he is a crypto person too. I read many of his answers on quora I first heard of him when I was searching around on Quora crypto section, and while he may not be one of the very big boys there, he has his own share of respect accorded to him.

He has quite a number of answers as related to cryptocurrency on quora and seeing him in this project as an advisor at least leads one or two credibilities to it from my perspective. After going through the white paper, I can at least say that this is one ICO that ill be interested to participate in. So lets jump right into the details.

Lancechain is a marketplace built on the blockchain for freelancer and project organizers. It isn't a product per say, but rather they hope to provide a service, a sort of central place where freelancers, on any field can find work. The number one appeal that Lancechain is supposed to have is its zero commission system. This simply means that when you do a job on lancechain or request for a job, the site doesn't take its cut of the deal. This is especially inviting because I was a user of fiverr, and back then, around the middle of , I saw my profits always slashed down by fiverr as part of their '' commission''.

Lancechain introduces blockchain technology into the system via their tokens. Another problem I had with fiverr and basically with every other freelance websites out there no based on a blockchain is the fact that payment can be a hassle. Trying to connect with paypal or payoneer, meeting your bank if something goes wrong, the longtime one has to wait to verify that a transaction was done, and the unholy stress one has to pass through should a problem be encountered with payment in order to recover your funds.

LanceChain is saying that they can fix all these things via their connection with blockchain technology and their dedicated team. Lancechain doesn't just provide a place for these freelancers to get work, they are also providing you the assurance that no matter what happens, your money is safe until the end of the deal thanks to them implementing an ''ethereum smart contract escrow system''. Let's face it, working for someone else sucks, everyone wants to be their own boss, but not everyone has the means to do it.

For those in the entertainment industry, or those with special talents, the route to stardom is often long and uneasy, and if you do not want to work under someone, the best possible route to take is to be a freelancer. Now Im not gonna tell you where to take your freelance skills to, but at least take it to a place where your pays arent cut by the site claiming to provide a free space for you to place your tools, all the while charging for the door key.

Blockchain community, where premium services are offered for free to those who deal with blockchain related activities via the lance blockchain. A different approach being taken by lancechain though is the introduction of 2 extra types of people into the freelance system.

A normal freelance market place has the talents and the talent seekers. But with lancechain, people called talent recognition experts, as well as dispute settlement experts, are introduced into the system. These are people that are well versedin a particular field, and also LANC token holders. Their job is to vet, try, recognise and recommend talent when they see it on the platform. He has the power to handpick or recommend a particular freelancer to a client.

Since lancechain is running on blockchain technology, and the system is decentralized, certain people will be elected by the lancechain community to settle disputes as they see best. These people hired by the community to do this will of cause need to possess skills that make them capable of handling the said disputes. Incentives to being part of this two class of people include receiving a part of the profit from the platform, in form of LANC tokens,. It is of cause an ERC token and it is a utility token.

Well this basically means that when LANC launches, you'll be entitled to some form services via your ownership of the said token. So for example, future updates, as well as premium services brought out by the LANC community or developers will be accessable by you. How it goes is up to the team to determine, though I would prefer they do it by the number of tokens you hold. So let's say an update comes out, or a new premium service is launched, those holding more tokens should be the ones to get the service first.

That's just my own opinion of cause. This strategy would incentivize owners of LANC tokens to hold more. Since the LANC token is built on the ethereum blockchain, there is no need to worry about finding markets to exchange and trade your coins. Ether delta, token market, idex. Of the total tokens to be distributed, approx. The token distribution is given below;. The funds generated from the fundraiser will of cause be used to finance the project as explained above.

The focal points of the funds will be in software, reserves, and marketing. The allocation is given below;. The total token supply of LANC is The LANC tokens will be distributed via 4 separate rounds of sale, the first being the private sale, then the pre-sale, then the main sale, which is divided into two rounds. An interesting fact about the ICO is that once the hardcap is reaced, the system stop recieving ETH to the address and automatically refunded by the smart contract embedded into the system.

To ensure financial security on the part of the investors, a 2 year vesting schedule, with a 6 months lull, will be imposed on the tokens recieved by the founders and team. This basically means that the founders cannot cash out any token until at least a period of 6 months has passed, and afterthen , it takes a whole 2 years before the tokens can be fully recieved. A good project can easily be differentiated from a scam or incomplete one by viewing their roadmap.

The more dodgy and general terms used in it, the more likely that the developers are just looking for a money grab opportunity. The plans for this started as far back as June , meaning at the time of writing, the developers had spent close to 9 months on this project before pushing it out for the ICO. Around Oct , development of the project started, this included writing the programs, creating the tokens, starting work on the website, among other things.

Feb, The project was announced, with an announcment being made on bitcoin talk, telegram and other places. Q2 will see the launching of mobile apps to accompany the project.

This basically enables one to have the app at hand at all times. This leads to faster response time, quicker work submission, and portability on the side of the freelancer or the person wishing to hire a freelancer.

This sounds like an interesting project, but there are many other competitors out there already like Effect. Seandainya postingan ini bisa di terjemahkan ke bahasa Indonesia tommy My portfolio so down I'm waiting for it to recover before trying on some ICO. But truth is cryptocurrency offers some great level of freedom. Too many good ICOs, so also are the fluffs.

I'm on an ICO vacation. Will consider some good ones when I'm done. To listen to the audio version of this article click on the play image. Brought to you by tts. If you find it useful please consider upvote this reply. Its nice of you to bring something like this to our notice. I used fiverr too about two years ago and it was really stressful making withdrawals.

I see this as a step in the right direction. I think there are some freelance sites that already allow cryptocurrency as a means of payment but with the package that Lance brings to the table, she'll beat them all. Its best to be fully rooted in the technology revolution now taking place. A good ICO in all the madness? A look at lancechain token and its platform with zero commission fee for freelancers. Hello world, Hello steemians! TL;DR For those who arent interested in overly long articles, the short work is this.

The ICO is on, and around half of the Checking the team Ok so the first thing I wanted to check after I found out about this project was the team behind it.

Lancechain at a glance Lancechain is a marketplace built on the blockchain for freelancer and project organizers. This is especially inviting because I was a user of fiverr, and back then, around the middle of , I saw my profits always slashed down by fiverr as part of their '' commission'' Lancechain introduces blockchain technology into the system via their tokens.

Smart contract escrow service, which ensures you get paid at the right time. The word ''something'' here could of cause mean anything, any marketable talent.

This is due to his amount of experience and know how in the field. Dispute settlement experts Since lancechain is running on blockchain technology, and the system is decentralized, certain people will be elected by the lancechain community to settle disputes as they see best. From there, the bonus in each round starts droppind drastivcally.

Roadmap A good project can easily be differentiated from a scam or incomplete one by viewing their roadmap. Also on Feb , the Bounty and affilate programs were announced as well. Q3 will see the integration of exchanges into the platform Q1 Will see the launching of the Lance chain platform.

The funds reserved for future use will be used for continuous and ongoing developments. All in all, im hopeful for this project to come out well, read more below. Authors get paid when people like you upvote their post. Thats true, its interesting to watch which of these projects will survive in the long run!

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