Remind you at the beginning of October we had a free meetup in Lausanne where we summed up the last blockchain trends, discussed the results of the summer and future trends in crypto sector.
Also, the event was the first meetup with online streaming, so in the end of the article, you can find the record. Let’s sum up what we discussed.
The expert was Dennis Sarkar, ICO analyst.
✅ There are several kinds of tokens, the ERC-20 token is one of the most common. It works like any other coin in most cases, but is limited in terms of application: being issued by one project, it is often designed to be the inner currency of that project, and its monetary value is then set accordingly to the demand for the project services. Usually unlike the core coin of the network, a token can be transferred but cannot be used to pay transaction fees, so a user is still required to have network coins to be able to send tokens.
Another popular type, ERC-721 is a token that is basically a file with unique data stored in it: it can be anything, like a baseball card or a document, digital ID, etc. For example, such type was used in the famous CryptoKitties game to represent different in-game units for collectors;
✅ All startups have their own economy model (tokenomics)
✅ There are three types of tokens:
Blockchain allows to store any form of data: applications, programs.
✅ Main ICO problems
✅ How to introduce tokens to a business?
1. How blockchain technology can affect the environment?
Modern protocols use some combinations of consensus. Companies are trying to use not so powerful computers – not to consume a lot of electricity.
2. Proof of work is a security protocol to prevent randomize and fake data from being applied to the network.
Proof of stake is a security protocol, at which protection of the data relies on the fact that people who want to make transactions to the network have to store some of their real money in coins.
Consensus is the model upon which participants control how data can be updated and stored to the blockchain.
To learn more watch the meetup
Follow us in social media:
If you want to learn more about blockchain and ICO, attend Blockchain Leadership Summit and meet 2'500+ people from blockchain field from all around the globe. Click on the picture to learn more about BLS.
Want to know an expert opinion about ICO? Then click the link ICO: good practice and learn how ICO is going to change the investment world, and what secrets have professionals.