Just wondering if this is something everyone does, and what questions you need answered before you are comfortable participating (and actively promoting) an ICO?
One of the essential parts of a
LEGIT ICO is its whitepaper. By just reading the whitepaper, you can get and understand all the details about the project. And the more complete the whitepaper of an ICO is, the higher the chance that the project developers are faithful about running the project.
You should see the following in an ICO's whitepaper:
- Problem
- Solution & Product
- Token Implementation (how the token works with the product, economics and technical)
- Team
- Token Deployment & Plan
For me, the first thing that I look for in an ICO's whitepaper is the
PROBLEM and
SOLUTION together with the
PRODUCT/TOKEN/COIN. A project that meets the problems in the real world are most likely the ones that will succeed in the future since most people will likely support those projects that can really help them. The solution should also be feasible and clear. The token are usually called the solutions, but how it will be implemented in the future is what makes the difference.
You should also be able to see in the whitepaper the
TEAM. This gives more credibility to the project and it shows that the developers are ready to take the responsibility on what might happen to their project and the clients in the future.
Token deployment is more on the details about the ICO, pre-sale, and anything about the timeline of the project's schedules.
I'm preety agree with your opinion.
The key of success of the ico is what's the problem and what the solution to fix that problem. If the both point are syncronize I guest we can see the purpose of the ICO. Then also the team is a vital part for ICO. We must analyze the track record from the team. Watch their experience is become an advantage for choose the right ICO before you join with them.
