e-Chat is a decentralized instant messenger platform with crypto multi-wallet and a concurrency exchange service.
|Description||e-Chat is a decentralized instant messenger platform with crypto multi-wallet and a concurrency exchange service.|
|White Paper URL||https://investors.echat.io/static/doc-pdf/en/e-Chat_Whitepaper.pdf|
|ICO Launch||2017-10-16 12:00:00|
|ICO Closing||2018-03-01 12:00:00|
|Token Platform||Ethereum ERC20|
|Coin Price||1.35 USD - 1.425 USD|
|Funding Target||$300 million|
ICOs were the investment story of 2017, with investor returns sometimes exceeding 10,000%. The sky truly is the limit with ICOs, and we don’t expect this to change anytime soon for 2018. Today, we’re excited to talk to you about the upcoming e-Chat ICO. This is one of the best ICO opportunities for those who love to invest in a working product, and who understand the potential of both digital and blockchain networks.
At its heart, e-Chat is a chat dapp. But unlike most other chat apps widely used in the world today, e-Chat brings together many behaviors that mobile users demand of a diverse array of apps. Of course, you can send text, but eChat also offers many ways of sending images and video. It has its own decentralized social media platform built right into the app, as well. As a blockchain application, e-Chat also offers value to its users by acting as a wallet for multiple cryptocurrencies. For the blockchain-savvy mobile user, this couldn’t be better, and e-Chat stands a chance of being one of the first apps to truly go mainstream.
We’ll cover a lot of ground in the following e-Chat review. First, we’ll give you the details about what e-Chat is, then we’ll tell you how to get in on this ICO before you miss the boat!
What is an ICO
Many of our readers will already know this information, but we’ll cover it again for those who don’t. “ICO” stands for “Initial Coin Offering”. An Initial Coin Offering is the first time a cryptocurrency like e-Chat is distributed to the public. The coins are exchanged for popular digital currencies like Ethereum, (usually) with a fixed number of coins agreed upon ahead of time for each Ethereum unit sent in by the investor.
The Initial Coin Offering is named for its similarity to the Initial Public Offering, the event during which a stock is offered to public investors for the first time. IPOs continue to raise large amounts of money, but the ICO is still largely unregulated and presents a higher level of returns, access, and convenience to investors and to the company launching the ICO in the first place.
An ICO can be “launched” using the technology of an existing blockchain platform, with Ethereum being by far the most widely used one. The e-Chat dapp was launched on Ethereum, on which it operates even now. This e-Chat ICO happens at a time when e-Chat is prepared to become an independent blockchain protocol, by creating a “hard fork” of the Ethereum blockchain.
Why Has e-Chat Chosen a Hard Fork For Their ICO?
A “hard fork” occurs when developers take a copy of the open source software of a blockchain network like Ethereum, make some changes to the code, then start using the new version of the code instead of the original platform. This way, e-Chat will be able to benefit from the genius of the Ethereum blockchain and the ability to make their own updates to the code.
Here is a graphical history of the many forks of Unix, to give you an idea about how useful a single code base can be for diverse purposes and systems.
The network will also gain enhanced throughput by operating on a blockchain with no other dapps, as is currently the case with (the sometimes congested) Ethereum blockchain. e-Chat hopes to extend their service to billions and allow users to issue their own tokens with 2 clicks, so the extra traffic this will allow is absolutely essential for their future goals.
A hard fork often allows a blockchain protocol to introduce itself to the public with a working product. In the top 20 cryptocurrencies of today, 4 were conceived as hard forks (Bitcoin Gold, Ethereum Classic, Bitcoin Cash, and Litecoin). e-Chat’s operators think that this choice will allow e-Chat to make a big splash in the industry, with the possibility of rapid growth.
Why is e-Chat Probably Going to Be Huge?
There are a bunch of reasons to think that e-Chat’s future success is going to be impressive. With the success of the platform will come a big increase in the value of the e-Chat token, the essential token of the e-Chat network. Here are some of our best reasons to expect a grand future for this blockchain project, the ICO of which is almost done!
- e-Chat is decentralized, so it doesn’t require big server farms to store your data, like Facebook or basically any other social app these days. Your data will be stored across the e-Chat network, with little tiny pieces held in numerous devices around the world, with no one storing a complete file or your personal information.
- e-Chat’s decentralization will keep them outside of governmental regulations, at least for now.
- 65% of Bitcoin’s 15 million users rely on mobile devices. This makes e-Chat’s mobile strategy a shoe-in for adoption, especially for users who are already enthusiastic about blockchain’s potential to revolutionize digital applications we use every day.
- By 2019, the worldwide adoption of mobile technology is expected to be almost 4 billion, or half of the world’s population. This gives e-Chat a big potential user base in which to expand.
- By 2019, the total value exchanged through mobile networks is expected to top $1 trillion. As a significant portion of e-Chat’s business is the storing, transferring, and trading of digital currencies, even a small portion of this market could mean big things for e-Chat.
- e-Chat’s messenger functionality is top notch, and many thousands of people already use it every day.
- e-Chat’s integration of video messaging is a must for the ubiquitous messaging app of the future.
- When you participate in the e-chat social media platform, and your content is well received, you’ll be paid in e-Chat tokens. Many blockchain enthusiasts think that monetized use is the future of social media and advertising. Having this functionality already built into the platform will make the adoption of this style of social media all the more likely.
- You can pay for stuff with e-Chat, using QR codes of credit card integration, in real-world situations and on the internet.
- The e-Chat wallet allows you to turn fiat money into cryptocurrency, functionality that until recently has been available through few channels other than Coinbase.
- The experienced team is adding functionality all the time, which should only increase as the blockchain dapp steps out onto its own network.
How to Invest in the e-Chat ICO
If this e-Chat review has seemed like a rave so far, that’s because it has absolutely been a rave. We’re enthusiastic about the potential of the e-Chat ICO. If you are as well, however, you’ve got little time to take part, as (at the time of this writing) there are just about 2 more days before the e-Chat ICO closes forever. Here’s how to make sure you don’t miss the boat and are able to get in on what may turn out to be one of the great investment opportunities of 2018.
**Note: e-Chat is not available to investors from China or the US. We didn’t see any way of enforcing this when signing up on the e-Chat website, but the warning is there all the same.**
How to Sign Up and Pay for the e-Chat ICO
Registering for and contributing to the e-Chat ICO is not demanding, which is good news because there’s so little time left to invest in this token. You already have your MyEtherWallet set up, so you’re halfway there.
Start out at the e-Chat.io homepage. Click “invest now” and input the requested information. This won’t take long as e-Chat has few requirements for participation.
Once you’ve registered using the bare bones e-Chat ICO process, all you have to do is decide how much e-Chat coin you want to buy and which currency to use to buy it. We’ve already used Ethereum for this guide, so let’s assume that’s what you want to spend. You can click on the icon for your currency of choice as pictured above. This will make the e-Chat ICO’s QR code and address appear for each coin. Copy the Ethereum address and head back to your MyEtherWallet account.
Back at MyEtherWallet, select the currency you wish to send (Ethereum ETH), paste the e-Chat ICO Ethereum wallet address in the requested line, select how much Ethereum you wish to send, and send it. Once you submit payment, your e-Chat coins will appear in a couple of days on the echat.io account control panel (pictured 2 images up). You can then send these to your MyEtherWallet account.
Final Thoughts on the e-Chat ICO
By now you should appreciate the fact that e-Chat is one of the most promising ICOs we’re aware of, and certainly in the top 2 or 3 for 2018 so far. You should also understand how easy it is to invest in e-Chat coins, especially compared to the strict rules employed by so many other ICOs.
There’s no way to say how well the e-Chat coin price will perform in the future, once it hits exchanges and people start adopting the platform in droves. We can, as investors, however, make educated guesses about where to invest our money. In cryptocurrencies, projects like e-Chat (with a working product, a low-barrier-t0-entry ICO, and a large community of supporters) are few and far between. Though success is not guaranteed (and, really, it never is in crypto) we can approach the e-Chat ICO with some confidence, optimism, and a lot of excitement.