ICOs have been the biggest story in startup funding of the new millennium. No longer do startups have to go to venture capitalists or sell off huge portions of their company to investment groups who aren’t even interested in the technology they’re developing. Today’s digital startups can go straight to the people who are most interested in their product – individual, non-corporate human investors! What’s more, this strategy is bringing in literally billions of dollars to this generation of young innovators in the blockchain space.
ICO innovator Eidoo sees a problem, however. The problem is, most people find it difficult to participate in ICOs. Even though we’ve all heard of people making millions by buying into Ethereum or ARK during their earliest days, even cryptocurrency traders have trouble finding out about ICOs and then participating in them. This happens for a couple of reasons.
- There are few centralized places to discover quality ICOs. ICO hunters have to search all over the web and try to figure out which marketing sources have good information and which are simply being paid to shill one coin or other. It’s the wild west, and while a few succeed, others are confused – choosing the wrong ICOs, getting scammed, or not participating at all.
- Not all ICOs accept international buyers. There have been many ICOs which Americans (for example) have not been allowed to participate in. Each ICO has its own KYC (know your customer) process, meaning that would-be investors have to input sensitive personal information for every ICO they wish to buy and are often rejected for reasons outside their control.
How Does the Eidoo ICO Engine Plan to Change This?
Eidoo had their own ICO just a few months ago. More than 10 Million EDO were sold to investors all around the world, bringing in a whopping 82,372 ETH! Why was EDO such a hot commodity?
Eidoo, unlike many competitor blockchain projects, has a working product. The Eidoo wallet is a multicurrency wallet, which supports Ethereum, and all ERC20 tokens, as well as multiple users’ addresses for different tokens and purposes. It’s an ultra-convenient place for many investors to store all (or at least most) of their coins. Users control the keys and access their wallet through a single passphrase. This mobile app is free, intuitive, and looks the part of a world-class blockchain app.
But this isn’t all the Eidoo wallet does. Eidoo’s biggest selling point is that the wallet gives users access to the Eidoo ICO Engine. The Eidoo ICO Engine makes it easy for anyone to take part in an ICO, by bringing the whole process into the simple Eidoo wallet app. That’s the big picture, but let’s take a closer look at how the Eidoo ICO Engine works.
The User-Focused Eidoo ICO Engine
Almost every ICO in the cryptocurrency ecosystem accepts either Ethereum or Bitcoin as payment. The Eidoo wallets support these 2 major currencies by design. The Eidoo ICO Engine, built into the Eidoo wallet, allows ICOs to be released through Eidoo. Users with funds stored in their Eidoo wallet can participate in these ICOs with just a couple of clicks. No more digging through forums for codes and invites. No more manually inputting KYC info for every ICO. The Eidoo ICO Engine brings all of this information to the users’ fingertips.
In practice, Eidoo wallet users will be notified of any new ICOs in a banner following login. They’ll also be able to see any upcoming ICOs in a simple information section within the wallet. To participate, the user just has to input how much of their available currency to spend, read terms and conditions, input a password, and confirm the transaction. Then – BOOM – the ICO tokens appear within the Eidoo wallet, no other steps required. Users can store multiple addresses for receiving tokens or airdrops within the Eidoo wallet, as well.
Eidoo wallet users are still subject to KYC restrictions, but personal information is locked within the Eidoo Wallet/Eidoo ICO Engine, and never has to be input more than once. Furthermore, because all ICOs released through the ICO system are vetting by Eidoo, these ICOs will be among the most inclusive anywhere in the blockchain/cryptocurrency industry.
Eidoo’s Exciting Path Forward
Eidoo already has more than 200,000 downloads worldwide, through Apple, Android, and the desktop applications. Eidoo users get full access to ICO airdrops, as well as the chance to participate in great ICOs. The Eidoo roadmap is also quite exciting. The company has plans to release an Eidoo debit card in Q2 and a full-fledged Eidoo exchange in Q3.
Holders of Eidoo EDO will find that their coins have more use cases for each innovation. EDO investors are also excited to know that the already limited 10 million+ EDO supply will be gradually burned. Eidoo is going to burn a full 50% of the circulating EDO supply over time, greatly increasing the EDO coin value for all holders and users.
Eidoo has a number of excellent ICOs already scheduled for release through the Eidoo ICO Engine, including:
- Hive Power – a platform for building energy-sharing communities
- VIO – a transaction platform creating a connection between the Ethereum blockchain and VISA Direct
- ETHLend – innovative lending and borrowing platform on the Ethereum blockchain (ICO already complete)
Whether you are looking for a great investment in a single token (EDO), a secure storage wallet for dozens of coins, or a way to simply engage in tons of great ICOs, Eidoo is a compelling project for you to check out. Try it out now, because there’s so much value yet to come!