ICO and Smart Contract Development

Ico smart contract

Ico And Smart Contract Development

Description

What is ICO?

ICO, short for Initial Coin Offering is one of the remarkable recently-developed trends centred around the Blockchain technology and Cryptocurrencies. The concept of ICO relates much to the IPO concept. In IPO, or Initial Public Offering, the shares of an enterprise, usually a newly established one, are sold to its investors in order to expand the resources available to the company, and are often used for the launch of its future operations. In the similar course, ICO is the process in which the investors invest some form of cryptocurrency, usually Bitcoin or any applicable altcoin into a newly established blockchain based project, take for an example launch of a new cryptocurrency!

Pros and Cons of Initial Coin Offering

At first, ICO may seem an apparently reliable source of revenue for Blockchain startups, yet just like IPO, there exist a few dilemmas associated with it which challenge its benefits. The below section lists some of the advantages and disadvantages of ICO in a flash!

Pros

 
  • Initial Coin Offerings are a quick and easy means of fundraising for blockchain start-ups.
  • Affiliation to the promising Blockchain technology which makes them so popular.
  • Applicable for almost all blockchain based projects, including cryptocurrency development.
  • A number of cryptocurrency platforms already available for the marketing of ICO campaign.
  • The benefits and powers of decentralisation make these projects quite lucrative.
  • Extensive reach: Unlike IPO, ICO does not have much trade restrictions, thus attracting global investments.

Cons

 
  • It does not guarantee that the ICO campaign will attract the number of investors required to yield enough revenue.
  • The project may also never get established even after the end of the ICO.
  • With over 100 Initial Coin Offerings in 2017 alone, the competition is set to soar high!
  • Recently, the news of some fake ICOs spread like a wildfire making the potential investors dart away from investing in Initial Coin Offerings.
  • Some countries, namely China and South Korea have imposed strict regulations on investing in ICOs.

Despite these contradictory facts about Initial Coin Offering, this industry is turning up rapidly with a number of successful ICOs which are resulting out of their proper implementation and the popularity of this new investment trend.

What are Smart Contracts?

Yet another promising implementation of the Blockchain technology is in the field of smart contracts. Smart contracts refer to a revolutionary mode of payment, brought about by Blockchain, which eliminates the instances of financial transactions-based frauds up to a considerable extent. Under smart contacts, a continuous blockchain-based ledger of financial transactions between different cryptocurrency wallets is generated resulting in multiple copies of the same transaction, hence preventing the risk of frauds arising out of financial transactions. Besides financial security, this smart technology also results in securing the digital identities of those associated with the transactions from getting monitored.

Applications of Smart Contracts

With recent advancements, the smart contracts technology now finds applications in a number of industries. Smart contracts offer many exciting benefits over traditional contracts, which have made them such a sought-after trend globally. Some of the industries and sectors having a great potential to get revolutionised with the adoption of smart contracts are:

  • Banking Industry
  • Insurance Sector
  • Gambling Sector
  • Logistics Industry
  • Copyright Protection
  • Supply chain management

This technology is gradually gaining more trust and acceptance even in the most formal classes of sectors/industries such as banking, governance, and administration, which were once strongly opposed to these blockchain based technologies!


Over the recent years, the Blockchain technology has witnessed a widespread acceptance by the different sectors of the global economy. Owing to this fact, it is no surprise that the popularity of Initial Coin Offerings(ICOs) and Smart Contracts has also gained momentum. W3villa Technologies is a software development company having a substantial amount of expertise in the blockchain based technologies, including ICO and Smart contracts development. At W3villa, we believe that these emerging technologies do have the necessary power to transform the way finance and associated industries work. Do contact us for any query related to ICO and Smart contract development services.

Reviews


 Jackson L.

 Tucson, AZ United States

Smart Contracts and ICO are still emerging trends and there’s a lot of confusion and myths running around regarding them. Considering this, our team of blockchain supporters stepped forward to get a blockchain portal established from W3villa Technologies providing all the technical support and information on blockchain development.


 Hari B.

 Mumbai, India

Blockchain-based technologies like Smart Contracts have brought about a significant and stimulating change in the way many industries have been working traditionally.


 Clare N.

 Sheffield, Great Britain

We got a software application developed from W3villa in mid 2016. We wanted it to be built upon the latest and enduring software platforms, and this was the reason we partnered with W3villa Technologies.


 Vicky D.

 Newcastle upon Tyne, Great Britain

The blockchain technology has enabled a rapid advancement in banking, insurance and finance sectors. With the aid of smart blockchain applications and smart contracts, these industries have the potential to get transformed in the sense they execute various financial transactions.


 Alex R.

 San Antonio, TX United States

The launch of an Initial Coin Offering, or other blockchain project is a big deal for a new startup. When our company decided to go for an ICO, we chose W3villa Technologies as our blockchain partner.