Whether or not the world needs more solutions to make ICOs easier to organize remains a topic of substantial debate. The folks at POA Network are convinced that there is a dire need for a streamlined venture in this regard. Their new Token Wizard makes it a matter of a few clicks to create new token sales and the associated contracts. It’s an intriguing solution, but it’s not necessarily what people are looking for. The Token Wizard Explained Looking over its website, it’s apparent that POA Network wants to become one of the platforms which people use to create initial coin offerings and
Whether or not the world needs more solutions to make ICOs easier to organize remains a topic of substantial debate. The folks at POA Network are convinced that there is a dire need for a streamlined venture in this regard. Their new Token Wizard makes it a matter of a few clicks to create new token sales and the associated contracts. It’s an intriguing solution, but it’s not necessarily what people are looking for.
The Token Wizard Explained
Looking over its website, it’s apparent that POA Network wants to become one of the platforms which people use to create initial coin offerings and generate the associated tokens. To that end, the company has introduced the Token Wizard, a client-side solution to create token and crowdsale contracts in a few clicks.
All of the contracts will be published on the Ethereum blockchain and verifiable on Etherscan. Even though the tool is incredibly convenient, it remains to be seen whether there will be an interest in these features. It is pretty easy to set up a token sale, as users can select their strategy, set up tokens, set up the crowdsale parameters, publish the code, and have a crowdsale page generated on their behalf automatically. It is an all-in-one solution, which seemingly offers all of the convenience anyone could ever ask for.
It is also worth mentioning that the contracts are based on those of TokenMarket, which helps legitimize this platform a bit more. With the help of a web-based GUI, most ICO projects should be up and running within a matter of minutes. It is evident that solutions such as the Token Wizard will only boost the number of initial coin offerings out there in the future. It is doubtful a lot of people are looking forward to such a development, though.
As we have learned, a lot of ICO projects don’t know anything about proper security or how to deal with issues when they arise. With this third-party solution, it is highly improbable that companies will start to focus on security, as they will assume the Token Wizard will handle everything on their behalf.
It is that type of attitude which is hurting the ICO industry quite a bit right now. Several projects have had funds stolen, websites altered, or issues encountered with their smart contracts. Proper preparation for potentially raising millions of dollars should always be the number one priority.
That doesn’t mean the Token Wizard won’t be popular in the future, though. With the initial coin offering industry still firing on all cylinders, it will be interesting to see what the future holds in this regard. We can only hope to see more ICOs with a strong focus on security and less reliance on third-party solutions. At the same time, trusted third-party services may introduce a lot of positive changes for this industry.
It appears there is a lot of misinformation on the internet when it comes to cryptocurrencies and the associated electricity usage. More specifically, most sources claim Bitcoin mining uses a lot of energy, which is absolutely correct. However, it seems the situation is being blown out of proportion completely. The Truth About Cryptocurrency Mining According to the infographic below, there are a lot of things regarding cryptocurrency mining which people need to take into account. It is true that Bitcoin mining requires a lot of electricity in general, but it is pretty much impossible for this industry to use more electricity than any other sector
Even though Bitcoin will be the world’s leading cryptocurrency for quite some time to come, there are other competing solutions to keep an eye on. GameCredits is an intriguing initiative which will target the gaming community worldwide. This $100 billion industry can benefit a lot from cryptocurrencies in many ways, assuming the team’s plan is executed properly. The Purpose of GameCredits With so many people enjoying video games through various mediums, it is only normal that cryptocurrency projects would want to pay attention to this market moving forward. GameCredits is a project and a currency which lets gamers and developers buy and sell games
Education Ecosystem (LiveEdu) has announced that their Education token will be issued to crowdsale contributors and also listed on exchanges this week. Disclosure: This is a Sponsored Article CEO, Dr. Michael J. Garbade had this to say, “As ICO contributors know, due to legal restrictions we could not start work with centralized exchange listings until our ICO Round I was closed. This issue slowed us down but we have made progress with the help of our advisors. We have already closed deals with three exchanges where Education tokens will be listed, namely Bibox, Gate.io and Exchange 3. Exchange 3 will
