An ICO is a base of “Own cryptocurrency software development”, With help of ICO the smart contract is established with two community which is shared private key for trading, funding in the global market, But sometimes the services of ICO are depended on cryptocurrency token value. These type of token are in a binary format which is fully encrypted with cryptocurrency database.
Feature of ICO Token Which Makes a Successful Business
1. Create a Product
It is a first step of making utility token, because lots of tokens have come in the market which provides different service of cryptocurrency, if you really want to make a successful token globally in the market, first of all, you will create attractive project or product and capture all creative thing in the mind which are beneficial of project.
The product creation is based on solution and services that the project resolve problem also provide with an articulated case diagram.
2. Draft a White paper
The white paper is the most of part ICO token offering. It describes all procedure of cryptocurrency platform, work process of a platform, the roadmap of a platform, conclusion everything because it is work like traditional prospectus and a pitch deck.
With help of white paper service in ICO token service, we can understand “Blockchain service that how to work and do process??. So we can say that it very helpful resource for non-technical investors who are not from technical background or knowledge.
3. Develop a Token
Token service is the short-term code of cryptocurrency like (BitCoin=BTC, LiteCoin=LTC, Ethereum=ETH etc.). These token are run on blockchain network connection and established with help of smart contract. Lots of ICO token are made and run on ERC20 standard (Ethereum Blockchain) token but Now, the ICO developer makes and choose smart contract based blockchain. Basically, the token is programmed and designed in the company or an organization but the development of these token are outsourced on globally level.
4. Obtain Legal Counsel
Token Generation Event (TGE) is allowed to classify to your token as either security and utility token. Security and Exchange Commission (SEC) will help to apply “Howey test” on your token number because the security token is subject to SEC if the ICO token is structured appropriately.
5. Build and Maintain an Engaged Community
Every cryptocurrency companies need a community that is based on blockchain and smart contract based. The maintenance and engaged community is dependable these type of feature;
- Stand of token
- Subject of Token
- Discussion, Conversation, Report
- Influencer Hire People
- Live Stream Regularly
Closing Thought For Token in ICO
If you create your own cryptocurrency development and want to publish globally in the digital market you will need a token number to make your utility token ICO lunch successful. The token number generates a binary code of trading and invest time and exchange cryptocurrency with the private key in the wallet service. So with help of token services you can easily publish your own cryptocurrencies development.