🤷 Opinions Aliya Prokofieva

Сreative Сommunities in Space and Crypto Give Shape to Future Social System

Opinions
Equality based on trust and mutual respect is a viable prototype of democracy 2.0
Сreative Сommunities in Space and Crypto Give Shape to Future Social System

Aliya Prokofieva is founder of the international space company “Galaktika,” space exploration visionary and active public speaker. She writes for U.Today on the cutting edge tech and disruptive projects that may change the life of billions of people.

Whatever sociologists say about the growing popularity of individualism in the modern world, man was, is and will be a social being. Without denying the importance of individual genii, it is necessary to recognize: it is collective actions that ensure the progressive development of our civilization.

A notable phenomenon of modern social life is communities, the new forms of social groups that Thomas Hobbes defined as "a certain number of people united by a common interest or common cause." Compared with formal teams, they are much more effective and mobile, more focused on the outcome, and reveal the individual capabilities of participants better. It is communities that have all the chances to become a link between the traditional forms of social order that prevail today and those that will replace them in the future.

Working in various projects, I was able to observe the activities of such communities and identify the criteria that they must meet in order to become successful.

image

What makes communities effective

Here are the conclusions I came to:

1. The community needs a goal.

It does not matter what it will be: taking care of homeless animals or finding solutions to the Navier-Stokes equations. The main thing is that

a) it is clear and concrete,

b) it had high value for a certain circle of people.

Communities without a goal or with unclear targets are not viable- this is easily seen from the example of today's Internet. Instead of interested participants, they attract a crowd of trolls, ready to kill any idea. The exchange of views on such sites quickly gets sidetracked from the means of achieving the goal itself. The result is a massive outflow of capable members and the sudden end of the community.

2. Community members should be associated with joint activities.

Groups, united by the exchange of information or the discussion of common interests, have the right to exist, but they look like blank cartridges: from what they are, the surrounding world is neither hot nor cold. Here everything is simple: if nothing is done, nothing will happen.

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3. Community activities should be of public benefit, i.e. not limited to solving the personal problems of its participants, but to project the result into an external society.

The more people outside the community that feel the positive effect of his work, the higher is his social value.

For example, the social significance of a group of volunteers who decided to equip the courtyard of an apartment building will be limited to the circle of its tenants. However, if after this, volunteers take care of neighboring yards, attract new participants, embrace other areas, they will soon become a significant public force citywide.

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4. The task of a result-oriented community is not to suppress, but to promote the individuality of participants.

Equalization in such social groups is similar to death: it sharply reduces the level of responsibility of members of the collective. As a consequence, the effectiveness of joint activities will be zero. The maximum benefit to the community will come from a participant who can say to himself: this is mine, here I will be able to realize my abilities to the maximum and get a worthy reward (not necessarily material).

5. Full participation in decision-making is a distinctive feature of a properly organized community.

Social groups built on a tight vertical of power have no future. In the modern world, fewer people are ready to be content with the role of a pawn in another's game. A joint search for the right solution; the ability to listen and adequately assess points of view that are different from one's own; the willingness to accept a collective verdict, even if it does not agree with their ideals, is a consistent step on the road to a new type of democracy.

6. Trust is the ultimate catalyst for any community.

Communities in the past had to live, and many still do, on platforms that are not transparent in how they operate and the commoditization is obfuscated. Decentralization and the Blockchain technology are changing that. Blockchain transparency is what will shoot communities to the next level. The essence of the immutable ledger is that your every action is always yours. The Blockchain is for you, the individual. This forms trust. There are projects like U°Community that build a transparent community platform with dynamic reputation.

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The "Ether" orbital city

These considerations were fully taken into account when forming a group of like-minded people united by the idea of ​​creating the orbital city "Ether.” The result was a project that met all the criteria of a successful community, which could well become the prototype of a new model of social structure.

First, it has a well-defined goal, understandable to the participants and having a significant value for them. The idea of ​​creating a city in orbit with a population of several tens of thousands, equipped with an autonomous life support system and its own biosphere, is a powerful unifying force.

Secondly, the "ethereal" community is capable: it includes many high-level professionals competent with various fields of knowledge. But even more enthusiasts, keen on the grandiosity of the goal and ready to learn in the process of achieving it, improve themselves and make a feasible contribution to the common cause.

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Thirdly, the community's activities have a high social value: its result will be a breakthrough not only for the participants but for the entire population of the Earth. The engineering and social technologies obtained in the process of working on the project will become the property of not a narrow group of people, but all of mankind, and will bring the day when we begin to consider outer space as our second home closer.

Fourth, the scale and level of complexity of the tasks to be solved are such that there is space for self-realization for everyone. The theoretical physicist and engineer-designer, power engineer and biotechnologist, space designer and city manager- practically any professional experience multiplied by the ability to generate non-trivial ideas, will be in demand and appreciated.

And, finally, at all stages of joint activities, from the development of the concept to the full settlement of the station, key decisions affecting the future of the "Ether" are done collectively. Each member of the community has the right to vote, and every voice will be heard. Equality based on trust and mutual respect is a viable prototype of democracy 2.0.

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Bitcoin Cloud Mining Profitability- Is It Worth It?

📚 Wikicoin
Does cloud BTC mining make any sense today?
Bitcoin Cloud Mining Profitability- Is It Worth It?

The times when Bitcoin could be mined with a smartphone or a simple Windows 7 PC are long gone: today, the computations are so complicated you need a juggernaut machine to earn the coins. Even if you join mining pools, obtaining Bitcoins will still be challenging. In most cases, miners have to deal with heat, incredibly high electricity bills, maintenance problems, and lack of space. The sad truth is that they can hardly earn a Satoshi, and all investments go in vain. What to do? That’s where cloud mining rolls in. This is a great alternative to the mining elbow grease that can still be profitable. Let’s find out whether cloud mining worth it.

What is cloud mining?

If you already know what mining is, cloud mining is not rocket science. The only difference between traditional and cloud mining is the fact that in the second case you lease mining facilities from providers. Instead of buying and installing mining rigs, paying for tremendous electricity bills and trying to find ways to cool your room down, you just trust it all to the service provider. Rent a server, and the rest will be done for you.

What is cloud mining?

Should I try cloud mining?

Cloud mining would be suitable for:

  • Beginners who don’t know how to build and maintain a mining rig.

  • Those with energy a bit on the tight side (when it’s not supplied 24/7 or is too expensive).

  • A user who doesn’t want to deal with mining rigs or mining solo.

  • Miners who want to make the minimal investment and are ready to wait 6-24 months to get a normal reward.

How does it work?

Let’s put it simply. First, you order a mining package that suits your needs and budget best. The offers differ by:

  1. Price.

  2. Duration of contract.

  3. Hashrate (that’s the most critical points).

  4. Fee percent.

As soon as you pay for the service, you get access to the server and may check how it mines Bitcoin. Aside from the package cost, you also have to pay a certain fee of what you’ve earned. The Bitcoins you get will be sent to your wallet.

How cloud mining works

Is it worth it to mine Bitcoin?

The task seems to be simple, but is cloud mining profitable? Not always. Some people manage to get moderate earnings, while others spend money in vain. It depends on the funds you invest and the money you earn in the final result.

How to calculate the profit you may get?

First, look at the Maintenance and Electricity Fees (MEF) for every GH/s.

Secondly, check the hashrate. In order to earn Bitcoins, you need a hashrate of at least 50 GH/s.

Say, you pay $0.0045 per GH/s and mine at 10GH/s rate.

$0.0045 x 10 GH/s = $4.5 per day

The higher hashrate you use, the higher your chance to make Bitcoin cloud mining profitable. If you order the cheapest plan ($22 and 20 GH/s), most likely, you’ll stay with nothing after paying all the fees.  Considering the fact that your maintenance fees are counted in $, and BTC price is getting higher, we can say that Bitcoin cloud mining worth it when you invest at least $1,000-$1,500.

Here are the examples of average plans and prices:

BTC cloud mining tariffs

Beware of cheats

Unfortunately, not all cloud mining providers are equally fair. Here and there, you can see the reports of users who claim some websites don’t pay them rewards, while other websites simply disappear after taking users’ money. Decent websites usually cancel the service as soon as mining ceases being profitable– cheaters will continue pumping out clients’ money.

Therefore, you should work with well-established and reliable websites only. Read real user feedbacks, talk to the folks in mining forums and thematic conversations.

This video will help you to select a reliable cloud mining provider:

https://www.youtube.com/watch?v=TSEYbW43QD0

Pro tips for starters

Here are a few things you should take into consideration when choosing a cloud mining provider:

  1. When websites display income statistics, they show reward for $1,000 investment.

  2. The final income will be visible after the maintenance fee, so it won’t be shown on the website.

  3. As a rule, all contracts last for one year.

  4. Check out what is the uptime guarantee: there may always be server crashes, network disconnections, etc. But some providers deal with it quickly so that customers don’t even notice downtime.

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If you want to learn the forecasts about cloud mining BTC profitability and find out what your revenue may be, please, note that forecasts don’t consider raising mining difficult. Therefore, be prepared to earn less in long-term than you’ve planned.

The cost of coins is volatile: you never know how much they will cost tomorrow, in a month or in a year. Therefore, you should invest only the money you can afford to lose.

Comparison of cloud mining providers

Let’s review a few popular cloud mining websites:

Website

Pros

Cons

Genesis Mining

Custom mining tariffs are available;

Multiple mining farm locations

SHA256 contracts only

Slow and useless customer support

Miningrentals.com

You can rent P2P rigs from users;

Free pool selection

High fees

Eobot.com

Great side projects;

Instant payouts

High maintenance cost;

Lack of useful features

Terabox.me

Profitable referral program;

Low Fees

Lack of info about the company;

You cannot select mining pools

Minergate.com

Great coin selection;

Transparent pricing

Withdrawal from 0.01 coins is available

Bottom line

So, is cloud mining worth it? When it comes to Bitcoin, some evidence conflicts with the assumption that it is. Minor investments like $20-$50 a year will hardly bring you any profit. However, if you order a $1,000-$1,500 plan, your chances to earn will be way higher.

Except for the case when you have bags of cash to spare on energy bills, Bitcoin cloud mining is a sensible solution. It gives you the opportunity to double or triple your investments in a year or two. Therefore, such investment is justified. Although we don’t know what will happen next, Bitcoin is promised to raise in price by 100-200 percent in the nearest future, so your cloud mining investments can be easily multiplied.

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Binance Coin Price Prediction- How Far Can BNB Grow?

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Binance is a Blockchain ecosystem comprised of Exchange, Labs, Launchpad and Info. We expect further growth of the BNB cryptocurrency
Binance Coin Price Prediction- How Far Can BNB Grow?

Binance has found its way onto the headlines over and over again. At first, they launched a $1 bln investment fund and then, they celebrated over eight mln users. These new achievements water down the previous $15 mln raised in July 2017 and astounding growth in membership. The soaring success has also brought about several rumors concerning BNB price prediction.

In spite of the stellar performance of the company, Binance Labs never relented, rather, they kept pushing boundaries. The LaunchPad product which was tested in December 2017 with the Gifto Official’s ICO saw the corporation amass millions of dollars in seconds. They still didn’t rest their oars, as they’ve announced that they have more projects in the pipeline.

Their impressive track record is what underpins the myriad of BNB price prediction floating around, asserting that the coin will peak in a very short while.

But we cannot depend on hearsay alone, let’s find out if BNB will really do well in the market. If they will, what’s the underlying reason? If not, we need to find out why.

Binance offers a trading fee discount

Revenue is an important source of growth, no doubt. However, an equally important metric is the volume of trade being handled. BNB dealt with this wisely and offered traders a 50 percent discount when they make use of Binance exchange for the payment of fees. This seemingly little introduction goes a long way in encouraging customer adoption and BNB price prediction for 2018 is gaining traction because of this.

Binance affiliate bonus

Yes, there’s such a thing as the affiliate bonus with Binance. In fact, the earnings recently increased for those who hold a minimum of 500 BNB. The affiliate program rewards traders with 50 percent of the trading fees of those referred. This means that if you refer a trader who goes on to incur a trading fee of about $50, you will get paid $25.

For those who do not meet the minimum, the bonus was cut to 20 percent and the strategic advantage this offers can be seen below:

  1. It increases earnings in the short term

  2. Improves overall profit in the long-term

  3. Provide a perfect setup to create a new demand feature.

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Token sale participation for LaunchPad

LaunchPad is a Binance product which was established to help startups raise capital as at when due. They have tested this product and it has proved its reliability. This strategy then, that startups are required to purchase BNB tokens before they can participate in the fundraising exercise is an equally viable one and it will cause the value to increase.

BNB trading pairs

There are over 70 trading pairs of BNB. This means that BNB is available to be traded with 70 other cryptocurrencies on several digital exchanges. This goes to show how valuable it is and it also demonstrates that the demand for this coin is on the increase.

One more thing on trading pairs, the trading pair utility opens traders up to more arbitrage opportunities. What does this mean? Simply means that if there’s an NEO/BTC pair and a BNB/NEO pair, one can leverage the BNB/NEO pair rather than trading BTC because of the significant difference in price.

BNB price prediction

Now, to the real deal. Based on the evidence provided above, what is the verdict? Let’s consider a few other things:

  1. The initial total supply was 200 mln tokens but they have a buy-back clause which aims to reduce the total supply to 100 mln.

  2. It is an ERC 20 token.

  3. It has a market cap of $1.259 bln, the 18th largest.

  4. It is currently selling at $13.19

For the analysis, we shall draw on the data and equations provided here.

At the moment, the volume of BNB available is 4.3222 percent of the total physical currency A (including that in the central bank). The BNB available is also 0.3041 percent of the total currency B(including the amount in demand accounts, checking accounts, savings accounts, money market accounts, and certificate of deposit of accounts less than $100,000).

If one percent of the total physical currency A is infused into the crypto market and Binance coin maintains the current share, the price of BNB would be $2.98. If 16 percent of the said amount is pumped in, BNB would increase to $47.66 and if the percentage rises to 32 percent, it becomes $95.31.

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However, BNB price prediction takes a drastic turn in the case of currency B. if one percent is invested, it becomes $42.33, if 16 percent is invested, it becomes $677.33, if 32 percent is invested, it rises to $1,354.66.

Conclusion

Like we always warn, the crypto market is volatile and risky. This shouldn’t be taken as financial advice and we’re not liable for any loss incurred. Only invest after you’ve assiduously researched the market. One more thing, have fun while you do so!

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Ethereum Community Bitterly Divided Over Mechanism to Rollback Hacking Thefts

A proposal by Ethereum developers to formalize a method for partial network rollbacks in the event of theft has created a rift in the community.
Ethereum Community Bitterly Divided Over Mechanism to Rollback Hacking Thefts

The question of recovering lost Ether has once again come to the forefront, presenting great challenges to the Ethereum community. In the wake of last year’s Parity wallet hack, which cost users 513,000 Ether, developers are considering a proposal to allow such lost funds to be recovered. Ethereum Improvement Proposal (EIP) 867 proposes a mechanism by which the Ethereum community can implement a “state change” which essentially rolls back the hack and restores funds to their original owners.

What is it?

EIP 867 can be viewed (and commented upon) at Github. The “simple summary” explains the purpose of the EIP:

Provide a standardized format for Ethereum Recovery Proposals (ERPs), which relate to recovery of certain classes of lost funds. This EIP does not advocate for or against the acceptance of any particular recovery proposals.

Thus, developers are technically just laying out a procedure that would potentially allow lost funds to be recovered. They are not necessarily advocating for the use of any actual ERPs.

TheDAO

If this all sounds familiar, it’s because we’ve been here before. In 2016, a whopping 3.6 mln Ether was stolen from one of the earliest ICOs, called “TheDAO.” At the time, Ethereum’s developers and community had to decide how to handle the crisis. Not only was this a staggering amount of money, such a large sum of Ether would give the hacker disproportionate control over Ethereum’s network once it switched to Proof of Stake (PoS).

The Ethereum community essentially had to decide among a few possible outcomes. They could roll back the hack and restore funds to the original owners, thereby creating a precedent and demonstrating that Ethereum’s Blockchain was not immutable. Other options included either abandoning Proof of Stake plans or accepting that the hacker would have significant power once the change to PoS was made.

Ultimately, Ethereum’s miners chose the first option, and the immutability of Ethereum’s Blockchain was destroyed. Yet advocates of the rollback argued that the network was saved, and that it would only be a one-time occurrence, anyway.

The problem with precedent-setting cases is that, of course, they set precedents.

Controversy

Many community members are still arguing that the rollback of TheDAO hack was a one-off action and should never be repeated. Those who suffered from the Parity attack, including several ICOs, want to know why some hack victims should be reimbursed (from TheDAO hack) while they remain without their funds. They argue that the precedent for rollbacks has already been set. As the saying goes, “what’s good for the goose is good for the gander.”

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Coinbase Customer Service: How to Burn Your Customers

Customer is king, but not in crypto, exchanges still lack strong customer support
Coinbase Customer Service: How to Burn Your Customers

After more than three weeks, I was finally able to get my missing transfer from Coinbase taken care of. It was a simple fix but it took more than three weeks, constant follow up, opening a case with the Better Business Bureau (BBB), and having a Coinbase “specialist” get involved. All I needed was a trace number so my bank could find the in-limbo funds. Was it really necessary to go through all of that just to get a trace number that could have been provided in the first request for support? I don’t think so.

Thinking about service

It seems the customer-is-king notion is falling by the wayside as tech companies grow larger and larger and feel that if they burn a few customers, that is not going to affect the bottom line. While that may be true to some extent, I hate to admit that, these companies are operating in the wild west of crypto are ultimately deciding the future rules and regulations to come down, based on their actions and the actions of their customers.

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Cold, robot-like emails

Coinbase does have a phone line for support but that is reserved for compromised accounts, so you have to endure scripted-response emails from a no-name support person (robot?), who is most likely working remote without easy access to supervisors. While I was dealing with my issue, here is an example of the emails I had to ensure:

Hi, Eric.

Thank you for contacting Coinbase Support.

I apologize for the inconvenience this has caused.

For sells or withdrawals, we initiate the transfer of funds from our bank to yours and the process takes 3–5 business days but may take up no later than 10 business days from the time that you have initiated the withdrawal.

We would love to process your funds faster, but we are dependent on the speed of our traditional financial system, which is an external bank process that Coinbase doesn’t have control with. We’re always researching new ways to make transfers faster while still maintaining safety (both yours and ours), security and convenience.

Thank you for bearing with us.

Regards,

Coinbase Support

I got that email or a similarly worded one about four times.

It was only after I opened a claim with BBB and then threatened to open up a complaint with the Consumer Financial Protection Bureau (CFPB), was a specialist finally involved.

Hi, Eric.

I sincerely apologize for the delay getting back to you on this case.

Having investigated the issue, I am working with a specialist to address it properly.

We will follow-up with you as soon as we have an update.

Thank you for your patience, and for choosing Coinbase!

Regards,

Coinbase Support

I then waited three days and had to email them again to get the following email that finally resolved the problem:

Hi there,

Your withdrawal has completed on our end. Below is the trace number for your funds.

Please [contact] your bank’s customer support line and explain that you have funds missing and give them the trace number. They should be able to locate your funds and forward them to your personal account.

They must have been really annoyed with me because they did not use my name in the salutation, nor did they sign off with the customer support signature.

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CFPB is full of complaints and so is BBB

The CFPB is, according to Reddit, much better at getting Coinbase to take action to resolve issues. Here is a list of the more than 2,600 complaints filed against Coinbase, for which many are for funds not received or missing funds.

Checking out the BBB, they have given Coinbase an F rating with more than 1,500 complaints against the company. Coinbase also has more than 450 open complaints that have not even responded to.

While Coinbase did go through growing pains over the past year as their customer base expanded by some three mln, the CEO Brian Armstrong, pledged to grow customer support. While they hired more support specialists to tackle the growing mountain of customer issues, using email as a medium of support without any personalization does not do the customer any justice. A good, old-fashioned phone call can clear problems faster than emails in many complex cases.

Alternatives exist but also suffer from poor customer support

After becoming so irate with Coinbase, it was only natural that I sought out alternatives. I opened an account with Gemini, founded by the Winklevoss twins in 2015, and have so far been pleased with its service.

Compared to Coinbase’s 10 million users, Gemini does not have its user base readily available. I did look into the reviews on BBB and found that Gemini also has an F rating from the BBB as they never responded to any of the complaints, only 15, filed against them. It appears that in mid to late 2017, when the exchange was just getting started, they were suffering from frozen funds and misplaced money. I was unable to find any recent complaints.

Gemini, too, only has support via email, to its detriment.

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Suggestions for a better customer experience  

When it comes to handling other people’s money it is best to do so in a quick effective manner. If there is any question in the mind of the customer about where their money is, it is best to address it quickly and with full details about the situation.

If a customer is missing a deposit and sends a request for help, a proper response would include the following:

  • We are sorry for the inconvenience this is causing you

  • here is what we know so far, here is what we are working on for you

  • here are codes and numbers that may assist in this matter

  • my name is X and I will be assisting you on this matter

  • here is a case number

  • here is a phone number for expedited/personalized support

These are small and rather easy things to implement in the customer support process. I know if I got an email with the above in response to my issue, I would be able to feel secure that someone is diligently working to resolve this issues and if need to reach out to someone for more help, a dedicated person is there to help.

It’s a little that can go a long way in improving customer satisfaction.

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What is DAICO? Incorporating Features of DAO and ICO

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The next generation fundraising system for startups and new major projects explained
What is DAICO? Incorporating Features of DAO and ICO

Lately ICOs have emerged as a new way to raise funds for fintech startups and have got all the popularity with the recent boom that cryptocurrency has seen. Every other ad on the internet has to do with ICOs. It’s not just the young projects that take refuge in an ICO for raising their starting capital and implementing the ambitious ideas– old corporations also try returning positions by announcing ICOs and Kodak is a perfect example of that.

ICO is proving itself to be a perfect invention not just for investors but also for developers. It offers a chance to developers to raise money if they’re convincing enough, whereas users can make investments in a project of their choice to support it and earn profit.

What is DAICO and how it came into existence?

A question that is trending, however, is what is DAICO? Well, as ICO got popular, it attracted many frauds as well. They were able to raise massive amounts of money by simply setting up promo-websites and white papers. Due to the increasing dissatisfaction of potential investors, some countries came up with solid regulations and a few even banned cryptocurrency and ICO entirely.

This led Vitalik Buterin to come up with DAICO ICO which is simply an improvement to the existing ICO. It integrates ICO with DAO. As far as DAO is concerned, it was a venture capital fund aimed at Blockchain- and crypto-related projects. It was a promising concept but, unfortunately, it got hacked because of some existing vulnerabilities in the system and that resulted in almost 3.5 mln Ether being lost.

As a result, the community voted in favor of a hard fork that led to the creation of Ethereum Classic – the original Ether, and Ethereum, the new Ether created after the hard fork. Now, some features of DAO, like the ability of spreading the funds over time, have been incorporated into DAICO.

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What are the features of DAO and ICO that have been put together to form DAICO? While DAO leverages crowds’ wisdom and doesn’t place complete trust in a centralized team, ICO is  based around a single project. DAO’s funding is spread over a period of time- the feature that is used in DAICO. It has to be added that in ICO, there’s no risk of 51 percent attack- DAICO will also utilize that.  

Now that you know what is DAICO, let’s do a bit of a DAICO ICO review to find out more detail on this subject.

How does DAICO work?

DAICO starts as a smart contract that is in contribution mode. This contract offers a certain mechanism that allows contributors to send their funds to a particular project while getting network-specific tokens in return. At the end of the crowd sale period, the contract prohibits any further contributions from anyone.

Once that contribution period is ended, a variable called “tap variable” gets into effect. It is usually programmed for predetermining the amount that can be withdrawn by the developers from token sale funds in a second.

The initial limit is zero; however, the contributors can increase the tap by voting on the resolution.

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Which DAO elements have been incorporated?

DAICO, basically, has three key elements of DAO.

First of all, it doesn’t place complete trust in any centralized team and there’s a voting system in place that makes decisions related to funds.

Secondly, it does not release funding as a lump sum amount – rather it’s spread over time through a particular mechanism.

Lastly, there’s an opportunity for refunding the amount being contributed. The decision is again based on a voting system and contributors are allowed to vote for refunding the remaining amount of money, in case the project is not implemented properly by the team.

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ICO vs DAICO – what’s the difference?

If you do a comparison of DAICO vs ICO, the primary difference you’ll observe lies in access to the funds.

In case of ICO, developers can fully access all contributed funds as soon as the token sale is finished. It’s the responsibility of the developers to make an advance calculation of exactly how much would be necessary for producing minimum feasible product. When this ‘soft cap’ amount is reached, the work on that product is started and money is spent wherever they feel necessary. However, if the initial ‘soft cap’ is not reached, they’re liable to refund that contributed money. And, if they’re able to reach the ‘soft cap’, there isn’t any real obligation that remains.  

When it comes to DAICO, voting is done on resolutions for either increasing the tap or for returning the remaining funds being contributed.

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The major characteristics of DAICO

Even though the system hasn’t been fully implemented yet, still some of the major features of this budding concept can be highlighted with the help of a project that is aimed at conducting the very first DAICO. Here they are:

  • Only the project developers can initiate a resolution for voting on the tap increases
  • Tap increases can only be under a certain percentage limit for abuse prevention
  • There is a limit in place on the frequency at which tap increases can be made
  • Only investor tokens can be used for voting, not the ones held by the project developers
  • In case of a planned poll, the contributors are informed in advance

So, DAICO is the next generation fundraising system for startups and new major projects. Though not implemented yet, the very first project seems quite promising and will lay the foundation of a new era.

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