How to identify a good blockchain project? - page 3.

psoo7

jr. member

Activity: 126

Merit: 1

Quote from: blockchain1023 on July 18, 2018, 11:07:19 AM

As said in the topic, how do you guys identify a good blockchain project or a bad one? There are so many projects being talked online...So confusing

Me first, I would check:
1. team background
2. website
3. whitepaper
4. quality of community

What about you?

Some red flags for the beginners in the crypto world! Make sure to check these red flags before investing in any ICO.

1.CLAIMS OF HIGH, GUARANTEED RETURNS.
2.CELEBRITY ENDORSEMENTS
3.CLAIMS OF “SEC-COMPLIANT” (guarantees that their coins will trade on an SEC-compliant exchange where you can buy and sell them for profit)
4. INVESTING WITH A CREDIT CARD.
5. PUMP AND DUMP SCAMS.(Tempting you with guaranteed gains with pumps and dumps during pre ico to crowd sale)
6.Team members without any social profile. if they provide be sure to check the genuinity on basis of followers and background.
7.Language( grammar is correct or not)

and if you have done these be sure to read the whitepaper!!

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: blockchain1023 on July 18, 2018, 11:07:19 AM

As said in the topic, how do you guys identify a good blockchain project or a bad one? There are so many projects being talked online...So confusing

Me first, I would check:
1. team background
2. website
3. whitepaper
4. quality of community

What about you?

I wouldn't at all. You can't tell if this project is created by very good computer scientist that they know what they doing and they will deliver or its just pure scam on marketing basis. So big promises, big words but not any chance to deliver and only works as a scam.

Best is to wait when project is finished, then you can use it and rate it if its true revolution like bitcoin, or just another copy-paste.

GraceEmily

newbie

Activity: 36

Merit: 0

I think you should look at the value of the community that the project brings, the development team and do not forget the reality.

Alfa Rating

newbie

Activity: 51

Merit: 0

You have to pay attention to the White Paper firstly, and it's good if you have knowledge about how it should be create.

Secondary, check the team and it's technical part and also advisory. Usually such projects have a board of professionalists. If you think these aspects take your free time, you can find good blockchain projects in our site https://alfarating.com/ and have rest Roll Eyes

Srujan007

jr. member

Activity: 99

Merit: 1

Check the team,website ,then read white paper, analyze ,and check if this has any real use case.If you find any real use case think is this required .If you find the answer yes ,then you can go ahead.You may fail but you will get some experience which helps you to forecast good project in future.

iloveyoukandy

newbie

Activity: 18

Merit: 0

Quote from: blockchain1023 on July 18, 2018, 11:07:19 AM

As said in the topic, how do you guys identify a good blockchain project or a bad one? There are so many projects being talked online...So confusing

Me first, I would check:
1. team background
2. website
3. whitepaper
4. quality of community

What about you?

I always check a social media activity like reposts/likes

Labonikhatun

jr. member

Activity: 448

Merit: 1

As you may know, how to identify a good blockchain project and cryptocurrency. Some people already strongly believe in the future of blockchain and additionally cryptocurrency. I'm also one of the people who believe in this technology, but still, it was hard for me to truly acknowledge which project I should follow and which. But I've often the praise of blockchain project, which I truly believe has the potential to create great efficiencies across many industries.

nngella

member

Activity: 336

Merit: 42

I also check the background of the bounty managers.
If the bounty manager is someone that has a high trust rating, then I will jump to grab the opportunity to join the bounty campaign.
The other way around is also applicable, I always tend to avoid bounty campaigns that have bounty managers with negative trusts.

avivsun

jr. member

Activity: 58

Merit: 1

Quote from: blockchain1023 on July 18, 2018, 11:07:19 AM

As said in the topic, how do you guys identify a good blockchain project or a bad one? There are so many projects being talked online...So confusing

Me first, I would check:
1. team background
2. website
3. whitepaper
4. quality of community

What about you?

Before understanding how the project is good => Make sure it is not a SCAM

-> Do not get impressed by the Awesome website and community as marketing can get a really you nice show.
-> I think Whitepaper maybe not enough, Why there is no MVP or Beta Verison?

Here is my guide how to identify ICO scam
https://101blockchains.com/how-to-spot-ico-scams/

ssteinb86

newbie

Activity: 110

Merit: 0

Usually, you can spot quality project right away. But then you have to check team's background to make sure it is not a scam, even get in touch with some of them to make sure these people exist. Roadmap is essential because it shows the ability of the team to plan and critically evaluate their abilities. Not sure the ratings are so essential as they can also be corrupted.

brooklynian

member

Activity: 392

Merit: 10

Nowadays, a very good number of the ICOs are scam. I read it on someone's post that so far in the year 2018, 80% of ICOs are scam. For me to identify good ICO, I will need to know what the idea is all about in order to see whether it is achievable and also see the evidence that the team is presenting their project in reputable conferences across the world.

beddyyy

newbie

Activity: 84

Merit: 0

I study the ratings of IСO projects.
There are a lot of evaluations of experts about different IСO. Usually, really promising projects have a lot of positive assessments.
Also it is important to pay attention to the road map!

Abeliancoin

newbie

Activity: 24

Merit: 0

Just share some approach from me when i considering a new blockchain / ICO project, I will take into consideration to the following points:
1. Team : What's the background of the founder/co-founder, advisors, team members. What the level their experience related to the Blockchain/project.
2. Whitepaper: Is the whitepaper completed and full text? Does it clearly explain the whole project?
3. Project / Token usage: What's the purpose of this project, and how it affects the blockchain ecosystem, what vlaues they can bring to contribute in Blockchain development.
4. ICO Sales scheme: how is the timeline of the ICO sales, is the price fair?

Standard Kepler

newbie

Activity: 30

Merit: 0

1. whitepaper (check if similar ideas & whether the project is feasible to use under blockchain technology_
2. team, partner background and activeness
3. Github

cryptocamacho4785

jr. member

Activity: 56

Merit: 1

Good blockchain system are always mentioned on the renowned sites, but not all of them though. But for me, when I get to know about such projects, I do a good background check and also check the reviews to see if it's actually worth it.

Emeskhalifah

newbie

Activity: 11

Merit: 0

in my own opinion, after you've checked the potential of the coin,website and whitepaper, you should also check out the impact of the project in your day to day activity. is the project about a paricular product? is it opened to other organization? it is very important you know that blockchain is yet to really get recognized by common people. when I say common, I mean inclusion of people that have less to do with internet.
There must be some level of potentiality in the sense that the project is opened to other projects and are willing to work with other crypto projects.Then most importantly,verify that they are really working on it and not just having printed materials and social media campaign without actually doing anything.

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: blockchain1023 on July 18, 2018, 11:07:19 AM

Me first, I would check:
1. team background
2. website
3. whitepaper
4. quality of community

What about you?

I identified only one blockchain project worth investing. Its called Bitcoin.
Nothing else is worth investing by me.

cryptocrabs2

newbie

Activity: 322

Merit: 0

Yes like you I also check those information. I also check their contact information as many scam projects don't share their contact information or about themselves.

MoneyCryptor520

newbie

Activity: 257

Merit: 0

When you want to identify a good blockchain project then you can check their rating position because all great projects have a good rating.

kojoannan

member

Activity: 294

Merit: 10

www.daxico.com

I identify a good blockchain project by first looking at the whitepaper, if its add something unique to the existing blockchain or just reinventing the wheel. If the ideas sound good and awesome I do a background checks on the team and match their experiences with the task ahead to see if they can fulfil the ideas in the project.

Topic: How to identify a good blockchain project? - page 3. (Read 799 times)