Whales are notorious among cryptocurrency users, because they can manipulate prices. In traditional ICO systems, whales are able to control prices due to their financial means, even if their bids are not accepted.
ICO has become a common term for concentrating and distributing crypto-currency for business purpose. However, there are new trends that we will soon see in the future:
ICO or Initial Coin Offering is an innovative way to obtain fund, if business owners can assure people about the validity of their new products and services. ICO works like any crowdfunding project, but it’s still relatively unregulated.
Scams associated with ICO have raised scepticism and distrust among investors. These doubts are justified because various quick money making schemes are taking advantage of ICOs. This affects honest business owners and innovators as well, making it challenging for them to start a successful ICO. Here are a few things to do: