In the case of the BannerCoin ICO - bannercoin.com which is accepting currencies other than Ethereum for the token sale, users register and include their Ethereum address for where they want the tokens to be sent. Once they checkout and go to pay for the tokens, the system will generate a transaction for that user. Once payment is received successfully the record for that registered user is updated to show that their payment has been processed successfully. Coins will then be sent to their registered Ethereum address.
This process is different than relying upon a smart contract like many ICOs since various cryptocurrencies are being accepted rather than only Ethereum.
This same process will be how checking out on an ecommerce enabled website will work. The difference being that tokens are being sent to a registered address as opposed to physical goods. BannerCoin is a payments platform.
Topic: ICO deposits/audit and how it works? (Read 313 times)
Thanks you for interesting question!
I also don't know how exactly process is going but will try to find answer for you question.
At this link:
https://techcrunch.com/2017/05/24/how-to-stage-an-ico-and-other-related-questions-you-might-like-answered/
i found this text:
TC: These require digital wallets?
SM: [The issuing company] requests [the investor’s] source wallet and the wallet where the token buyer wants to receive the token. Once the company collects the money, the sale is concluded, the smart contract is deployed, the tokens are issues via the smart contract, and delivered to the token purchasers.
So answer is - all selling is going via smart contract. So I think etherium is first crytpo with smart contracts. So because of this inference I found answer for you: you need just to know how to creat smartcontract via etherium. For example this link:
https://www.coindesk.com/information/ethereum-smart-contracts-work/
I also don't know how exactly process is going but will try to find answer for you question.
At this link:
https://techcrunch.com/2017/05/24/how-to-stage-an-ico-and-other-related-questions-you-might-like-answered/
i found this text:
TC: These require digital wallets?
SM: [The issuing company] requests [the investor’s] source wallet and the wallet where the token buyer wants to receive the token. Once the company collects the money, the sale is concluded, the smart contract is deployed, the tokens are issues via the smart contract, and delivered to the token purchasers.
So answer is - all selling is going via smart contract. So I think etherium is first crytpo with smart contracts. So because of this inference I found answer for you: you need just to know how to creat smartcontract via etherium. For example this link:
https://www.coindesk.com/information/ethereum-smart-contracts-work/
Hi,
I have been looking at a few ICO's and I don't understand how the deposits work (or more specifically, how do they account/audit my payment).
For example, the one I looked at is a Waves token. They require I put in my Email/Waves address/Amount/Type of Crypto. But they do not require I put the "address" I will send my payment from.
If I send 1 BTC from my BTC address, how do they know it was "me" who made the deposit in order to send the coin to "my" Waves wallet?
Thanks.
I have been looking at a few ICO's and I don't understand how the deposits work (or more specifically, how do they account/audit my payment).
For example, the one I looked at is a Waves token. They require I put in my Email/Waves address/Amount/Type of Crypto. But they do not require I put the "address" I will send my payment from.
If I send 1 BTC from my BTC address, how do they know it was "me" who made the deposit in order to send the coin to "my" Waves wallet?
Thanks.
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