There are many characteristics of the ICO that is Initial Coin offerings that would make it successful. Including these characteristics are the whitepaper, the blockchain code and the shorter funding period. There are studies that are carried out to define the qualities and aspects of the ICO that would make it a success or a failure. According to the studies following are the characteristics of the ICO that define the success of them -
Characteristics of the Successful ICO [Initial Coin Offerings]
According to several studies carried out on the ICOs there are three major aspects that decide whether the ICO will be a success or not. These three aspects include:
- Characteristics of the ICO
- Characteristics of the venture
- Technology Characteristics
# ICO Characteristics
The first aspect that defines the success of an ICO is the characteristic of it. As per the survey it has been made clear that the shorter funding periods has resulted in the higher amounts of fund collection. Also, the value of the tokens depends upon the units of the tokens available. As per the researchers, investors find it more attractive to buy the larger number of the tokens for the lower price of each token rather than going for fewer tokens at the higher price. So, these are the aspects that define the success of the ICO.
# Technology Characteristics
As we are aware that the entire ICO is dependent upon the technology, that is why it is vital that the ICOs are backed up by the strong technological innovation. This is the one aspect that defines the success of an ICO. As per the analysts, the project with the long, detailed and accurate white paper can make a strong ICO project. Also, as per the study having an unsatisfactory whitepaper instead of no whitepaper can harm the ICO performance in the worst manner. Posting the code in the Github proves to be more effective towards the success of the project.
# Venture Characteristics
There are many venture characteristics that define the success of the ICO. Included in these characters is the strong social media for the project, shorter funding period and even great whitepaper. Building and reflecting a strong team behind the ICOs. The strong team of an ICO reflects the success of the ICO.
These are the three characteristics that define that the ICO is successful or not. So, it is not at all the luck that ICO will perform well or not, but these characteristics of the ICO will make sure the success of the project. Combination of the ICO characteristics, technological characteristics, and venture characteristics will build a strong ICO that perform well.