An interesting doubt [ ICO OR FAUCET? ]

Darker45

legendary

Activity: 2576

Merit: 1860

Quote from: CaralhoGordo on July 31, 2019, 09:06:36 PM

Hello guys, how are u guys ? Grin

I have a cryptocurrency online course and one student asked me something interesting..

How do you find out how a cryptocurrency was distributed at the beginning? If was by faucet or ico ?

The NANO Cryptocurrency i know that were distributed by faucets but i read the whitepaper and found nothing about it...

So... How do you guys discover how a cryptocurrency was distributed at the beginning?

By proper standards it has to be indicated in the whitepaper how the initial supply distribution is to be done. This would also include what percentage or how much goes to this kind of distribution. Basically, this is to scatter as wide as possible the ownership of the coin. For sure, since you haven't read this detail in their whitepaper, they must have official announcement or statement relating to it. Time to consult Mr. Google for it or perhaps their social media accounts, or their website, or perhaps even roadmap.

avikz

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Quote from: CaralhoGordo on July 31, 2019, 09:06:36 PM

Hello guys, how are u guys ? Grin

I have a cryptocurrency online course and one student asked me something interesting..

How do you find out how a cryptocurrency was distributed at the beginning? If was by faucet or ico ?

The NANO Cryptocurrency i know that were distributed by faucets but i read the whitepaper and found nothing about it...

So... How do you guys discover how a cryptocurrency was distributed at the beginning?

There are several ways for distribution of a coin! Faucets are mainly a business tactics and in majority of the cases, faucets are not owned by the coin owners! So if you think of a large scale distribution channel, faucets are definitely not the most effective way!

ICO/IEO is by far the most effective way of distributing cryptos. You can also consider bounties as a distribution method with mutual benefits!

There is no particular way to discover how a crypto was distributed in the beginning. But you can certainly search google if a particular coin had announced bounties or not or if they have facuets or not! There's no structured way of finding this.

ralle14

legendary

Activity: 3346

Merit: 1914

Shuffle.com

One way to know how their cryptocurrency is distributed is to read their announcement thread from the start if they have one here. On nano's thread if you check the first few pages you can tell from the posts that it's distributed from a faucet. If there's no information or you can't find it then it's probably best to ask, i'm sure someone will always answer your question. Also with research you can find the answer or narrow down the possible ways of how each cryptocurrency gets distributed.

Herbert2020

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if the coin was transparent then they will have an explanation on their website. for example if you visit the Byteball website you can see the explanation about the distribution plans in the past and the history of it there. if they are not then you have to ask the community to tell you about the history and do some extensive search to find the traces of it online.

by the way ICO and Faucet are not the only 2 ways of distributing a coin! there are a lot more. for example the most popular is mining reward (like bitcoin) then that has many forms where they premine the coin, they shadowmine, instamine,... there is PoS distribution, there is giveaways based on how much bitcoin you own (like the Byteball case above), and a lot more.

joniboini

legendary

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Merit: 1789

You mean technically? I doubt there's such thing. The only way is probably to look up its history over the internet, lurking over on several forums and find the info about the coins/tokens that you needed. I believe info like that will always be available for free.

One clear thing is that the distribution method might not be written on the whitepaper, but if it's an ICO, there will always be a mention of the token sale, token price, and so on. Basically, any ICO will always have the details explained in the whitepaper, because potential buyers will need that info, while coins/tokens distributed via another way will not have that.

CaralhoGordo

newbie

Activity: 2

Merit: 0

Hello guys, how are u guys ? Grin

I have a cryptocurrency online course and one student asked me something interesting..

How do you find out how a cryptocurrency was distributed at the beginning? If was by faucet or ico ?

The NANO Cryptocurrency i know that were distributed by faucets but i read the whitepaper and found nothing about it...

So... How do you guys discover how a cryptocurrency was distributed at the beginning?

Topic: An interesting doubt [ ICO OR FAUCET? ] (Read 184 times)