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      "body": "<html>\n<h1>What is a Marketplace for Opinions?</h1>\n<p>Rewarding honesty and knowledge, Finnoq uses math and innovation to produce better results for those who ask questions, and simultaneously reward users' untapped knowledge when they are honest. Anyone can answer questions and be rewarded for being honest and knowledgeable. With such rewards, users can pose questions to the community and receive better results about their most difficult, subjective questions they'd normally never be able to ask.&nbsp;</p>\n<h1>How does this work?&nbsp;</h1>\n<p>The entire process is extremely simple:</p>\n<ul>\n  <li>Sign up at https://www.finnoq.com/ with a valid social media account or email.</li>\n  <li>Once your testnet Ethereum wallet has been created (the process takes about 5 minutes), you'll be able to start answering questions. There are 3 things you'll have to consider in your response:\n    <ol>\n      <li>Your honest opinion</li>\n      <li>Your confidence level in your opinion (on a scale from 50 to 100%)</li>\n      <li>What percentage of people you think chose the same answer as you.</li>\n    </ol>\n  </li>\n  <li>By completing these 3 steps, your response will be filtered through our MIT and Princeton algorithms for your knowledge and honesty. Your response is recorded directly on the blockchain, and can even be seen. Be honest, be knowledgeable, be rewarded. It's that simple.\n    <ul>\n      <li><strong>NOTE:</strong> Being dishonest and attempting to \"game the system\" doesn't work. The algorithms see right through it. Also, creating multiple accounts only goes as far for a while. A kind warning :)</li>\n    </ul>\n  </li>\n</ul>\n<h1>Why does Finnoq work on this project?</h1>\n<p>To find truth where no facts exists and can’t be found on search engines. We see a future, where individuals around the globe can monetize their knowledge, and everyone has access to reliable information to make better decisions. This is the world in which we seek to live, and we are ready for you to join the journey. Come along for the ride.</p>\n<h1>Feedback, Comments, Questions and Concerns?</h1>\n<p>Feel free to contact us at [email protected]</p>\n<h3>The Finnoq Team</h3>\n</html>",
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      "title": "Finnoq - The First P2P Marketplace for Opinions",
      "body": "<html>\n<h1>What is a Marketplace for Opinions?</h1>\n<p>Rewarding honesty and knowledge, Finnoq uses math and innovation to produce better results for those who ask questions, and simultaneously reward users' untapped knowledge when they are honest. Anyone can answer questions and be rewarded for being honest and knowledgeable. With such rewards, users can pose questions to the community and receive better results about their most difficult, subjective questions they'd normally never be able to ask.&nbsp;</p>\n<h1>How does this work?&nbsp;</h1>\n<p>The entire process is extremely simple:</p>\n<ul>\n  <li>Sign up at https://www.finnoq.com/ with a valid social media account or email.</li>\n  <li>Once your testnet Ethereum wallet has been created (the process takes about 5 minutes), you'll be able to start answering questions. There are 3 things you'll have to consider in your response:\n    <ol>\n      <li>Your honest opinion</li>\n      <li>Your confidence level in your opinion (on a scale from 50 to 100%)</li>\n      <li>What percentage of people you think chose the same answer as you.</li>\n    </ol>\n  </li>\n  <li>By completing these 3 steps, your response will be filtered through our MIT and Princeton algorithms for your knowledge and honesty. Your response is recorded directly on the blockchain, and can even be seen. Be honest, be knowledgeable, be rewarded. It's that simple.\n    <ul>\n      <li><strong>NOTE:</strong> Being dishonest and attempting to \"game the system\" doesn't work. The algorithms see right through it. Also, creating multiple accounts only goes as far for a while. A kind warning :)</li>\n    </ul>\n  </li>\n</ul>\n<h1>Why does Finnoq work on this project?</h1>\n<p>To find truth where no facts exists and can’t be found on search engines. We see a future, where individuals around the globe can monetize their knowledge, and everyone has access to reliable information to make better decisions. This is the world in which we seek to live, and we are ready for you to join the journey. Come along for the ride.</p>\n<h1>Feedback, Comments, Questions and Concerns?</h1>\n<p>Feel free to contact us at [email protected]</p>\n<h3>The Finnoq Team</h3>\n</html>",
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      "author": "neuvorstellungen",
      "permlink": "re-simple-math-innovation-finnoq-20190116t103621",
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      "body": "Hallo @finnoq, herzlich willkommen auf Steemit.<br><br>Wenn Du Fragen zu Steemit hast, oder Dich mit anderen „Steemians“ austauschen magst, schau einfach mal auf unserem Discord-Chat unter https://discord.gg/g6ktN45 vorbei. Mehr Informationen über den deutschsprachigen Discord-Chat findest Du <a href=\"https://steemit.com/tag/@obvious/komm-auf-den-dach-discord-server\">in diesem Beitrag.</a><br><br>Wenn fehlende 'Ressource Credits' (kurz 'RC') verhindern, daß du auf Steemit vernünftig interagieren kannst, dann melde Dich einfach mit einer kurzen Beschreibung oder Bewerbung im Channel #Delegationsbewerbung des oben genannten D-A-CH Discord. Dort werden eventuelle Unterstützer schneller auf Dich aufmerksam.<br><br>Wenn Du auf Deutsch schreibst, verwende immer #deutsch als einen der 5 Hashtags, um Deine Reichweite zu erhöhen.<br><br>Unter dem folgenden Link findest Du einige Anleitungen, die Dir den Einstieg in das Steem-Universum deutlich erleichtern werden: <a href=\"https://steemit.com/tag/@theaustrianguy/deutschsprachige-tutorials-fuer-steemit-neulinge-ein-ueberblick-2-0\">Deutschsprachige Tutorials für Steemit-Neulinge: Ein Überblick</a>",
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      "body": "<html>\n<p>English (German Post Below): A classic case of how our system produces better results: &nbsp;&nbsp;Although the majority said that politicians should serve only one period, the group actually thought that this wasn't true. Funny huh? &nbsp;</p>\n<p>Wanna know more? Put a comment below and let's work it out together &nbsp;</p>\n<h1>https://bit.ly/2RsONeP</h1>\n<p>German: Ein klassischer Fall dafür, wie unser System bessere Ergebnisse erzielt: Obwohl die Mehrheit der Befragten sagte, dass Politiker nur eine Zeit lang dienen sollten, war die Gruppe der Meinung, dass dies nicht der Fall sei. Lustig, nicht wahr? Willst du mehr wissen? Schreibe einen Kommentar und lass es uns klären! &nbsp;</p>\n<h1>https://bit.ly/2RsONeP</h1>\n</html>",
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      "body": "Welcome everyone and special greetings to the developers out there, usually working in the background. Today, we start our “dev diary” regarding the Finnoq protocol, in order to give you all the brief insights on what we are currently working. Although we have planned to do this regularly, our work might not allow us to publish every week. One may remark that writing is probably not a developer’s most enjoyable task, but we will try to keep our community up-dated with our insights. Promise! \n\nAfter this short introduction to our dev diary, let’s get started with the first topic and our first entry:\n\nIntroducing… the Finnoq Telegram Bot!\nAfter the industrial revolution, human beings have witnessed the center stage usurpation of machines. When we think about a robot, we think about a heavy steel body that….\n\nNope just kidding. This isn’t a thesis paper, and not how we wanna structure the dev diary. \n\nAs you may have already noticed, Finnoq is active on a variety of channels, and the community is growing rapidly (especially our Telegram Channel). As few have so far volunteered to actively supervise the channel 24/7, (surprise surprise) we started to implement a bot. In this fashion, we are able to welcome new members as well as offer additional features, such as delivering our integral papers (overview, litepaper, whitepaper) or information that are part of frequently asked questions (FAQs). It makes it even easier to interact and understand the long-term plans of Finnoq.\n\nVisit the Finnoq Telegram Channel and try it out (the link can be found in the pinned message).\n\nAdditionally, we at Finnoq create a protocol for decentralized opinion markets. Thus, we also implemented an additional opinion bot so everyone is able to participate in an early stage (even before Alpha is up).\n\nTO SHOW YOU WHATS UNDER THE HOOD AND HOW IT LOOKS:\nFor the development we used the official Telegram Bot API in combination with Google Apps Script.\n\nWe employed a 'webhook' to begin coding. The bot is triggered by receiving messages, which means every time someone interacts with the bot by sending a message, the message along with some more data is sent to the code. The message and data received is used to make decisions based on logic, pushing messages back and saving answers in our databases.\n\nFor example, if we employ our bot for quizzes or polls, the answers given from community members will be analysed. As opposed to a ‘getUpdates’-style bot, which can diffuse information without interaction from the end user (with required activation from the developer), ‘webhook’ acts only based on end-user engagement. This is what our blended code looks like:\n![pasted image 0.png](https://cdn.steemitimages.com/DQmNdNNoFwsiL43qk26PMzZHJWXngBHT2YsXUJEHPDMu9qd/pasted%20image%200.png)\n \n![](https://cdn.steemitimages.com/DQmeRMC3QXnhLguLdJLZtz3Cj1PoNuKpBQhA5iAXTR38RQM/image.png)\n\n![](https://cdn.steemitimages.com/DQmaEEuDEwdnoqQpV87yfa7kN7q5wErtRDrRM8f8pybuuDf/image.png)\n\n\nWe hope you enjoyed our first dev diary. We look forward to having many more, discussing what is happening from the dev’s perspective at Finnoq. \n\nIf you have any questions, suggestions or comments, our developers will be happy to hear!\nCheers!\n\nhttps://www.finnoq.com/en/dev/devdiary-1/",
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      "permlink": "evaluating-icos-2-from-essentials-to-the-deep-dive-in-evaluating-icos",
      "title": "Evaluating ICOs 2: from Essentials to the Deep Dive in Evaluating ICOs",
      "body": "<html>\n<p><img src=\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/06/29/finnoq_blog_icoevaluation2.jpg\" width=\"1200\" height=\"628\"/></p>\n<p>In the first blog, we gave you an overview of how you as an investor need more than a ratings website and one industry source in order to put your money into an ICO. Further, we tried to highlight our approach in this ongoing example: many sources are better than one when obtaining financial advice and making sound financial decisions.</p>\n<p>At Finnoq, our decentralized protocol is aimed at creating a space for premium, unbiased, and collective advice. With that in mind, let’s continue with our discussion on ICO evaluation. This time, we are taking a look at a few more factors, a bit more complex than the essentials.</p>\n<h2>We call them the “Deep Dive”, and they are listed below:</h2>\n<p><img src=\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/07/DeepDive-Blog.png\" width=\"604\" height=\"434\"/></p>\n<p><br></p>\n<h1>CATEGORY 2: DEEP DIVE</h1>\n<h4><strong>Community Presence: 6/11 mentions</strong></h4>\n<p>Looking at the <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">size and activity</a> of the community (not just <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">the company-paid press releases</a>) as well as company media presence are strong considerations of a potential ICO’s success. Venture capital firms or industry-specific investors put their money where their mouths are, placing their resources with a high degree of confidence once they have the ability to <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">scrutinize the writings</a> of a project. Today when a potential ICO is being marketed on social media, having a look at<a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\"> other people’s perspective</a> can be helpful in knowing what projects are more legitimate than others (until the Finnoq protocol comes out!). Legitimate projects have <a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\">active, open discussions</a> across social media, including transparency and quick response times from the team. If a team is <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">changing directions</a> with no regard for others, while also not sending the necessary updates regarding such changes, be wary of the project’s ability to succeed post-ICO. As mentioned in part one, transparency is key!<em>References used: 1, 3, 7-8, 10-11</em></p>\n<h4><strong>Fundraising - Soft/Hard Cap: 6/11 mentions</strong></h4>\n<p><a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">How much is the ICO trying to raise and why?</a> What is the <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">minimum and/or maximum fundraising threshold</a> for the ICO, and a hypothetical <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">cap on funds raised</a>? These are some basic questions one has to ask in 2018, as the ICO sphere has become much more complex today than the nascent days of crypto. While some ardently believe that participation in ICOs shall remain with companies touting a definitive soft/hard (minimum/maximum) cap on funds (if the project is pre-product), many ICOs these days even hype a hard/unlimited cap today. By doing so, not only could this create unrealistic and lofty expectations, but there are practical instances where this <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">resulted in no percentage gain for the investors</a>, because too many flocked in during a short period of time. Also, consider how hype could lead ICO participants into a full-blown scam. By having an unlimited cap or no definite time period for ending the token sale, the company exposes itself as being <a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\">without a solid plan of what it needs</a> to get the project running.<em>References used: 4-5, 8-11</em></p>\n<h4><strong>Management: 6/11 mentions</strong></h4>\n<p>Relevant to fundraising: how many tokens will be owned by the<a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\"> foundation, founders</a>, and team? Is there a plan set out for the<a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"> management of accounts and audits</a>? In general, the founding team<a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"> should own between 10% and 50% of the token</a> and should not receive liquidity within the first three years; be suspicious of any team token ownership<a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"> set at more than 50%</a>. Ask how<a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"> holdings are calculated</a> as well as for financial projections to ensure there is<a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\"> enough revenue to cover expenses with a margin for growth</a>.<em>References used: 3-4, 6, 8-10</em></p>\n<h4><strong>Beta Testing: 5/11 mentions</strong></h4>\n<p>How much has the product (as integrated on the blockchain) been<a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"> tested</a>? Besides an alpha, having a<a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"> beta version</a> or<a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"> testnet is a good indication</a> that the founding team will be able to “execute their vision”. To that end, a team possessing proof of concept (POC) or minimum viable product (MVP) shows “the<a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"> personal investment made by founders</a> to develop their idea before seeking funding”. Alternatively, not having a POC or MVP should raise red flags as to whether the project is both<a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\"> viable and credible</a>.<em>References used: 1, 3, 6, 8, 10</em></p>\n<p><br></p>\n<p><img src=\"https://media.finnoq.com/media/filer_public_thumbnails/content/2018/06/29/deepdive.jpg__1140x300_q85_subsampling-2.jpg\" width=\"1140\" height=\"300\"/></p>\n<p><br></p>\n<p><strong>Token Economics: 5/11 mentions</strong></p>\n<p>The subject of token economics has many facets, and is usually a subject on its own for any one contributor. That being said, without understanding some basics on token economics, a participant might place resources into an ICO that either requires <a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\">mass adoption of use</a> or pure speculation (discussed in part three) to increase value over time. Immediately post-ICO, what happens if the proposed <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">maximum token supply exceeds the initial circulation</a>? If it doesn’t, what will the team do with unsold tokens? Burning <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">(destroying) or redistributing unsold tokens</a> can also impact the initial value of each token after the ICO and consequently, how participants behave with tokens valued differently than originally intended. Consider the equation of exchange, which states the nominal total of the resource supply multiplied by the velocity of that resource (the frequency as which the unit is being used) is equal to the resource’s price level multiplied by its quantity. The equation looks as follows: <strong>M x V = P x Q</strong> The token must <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">align incentives to simultaneously accelerate growth and token value</a>. In achieving token value, scarcity of token is one means to achieve the objective. Consider that - for example - indefinitely printing tokens causes an <a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">inflationary spiral</a> (as is the case with any currency). Further, if the token only proposes an increase in exchange (<strong>V</strong>) within its system, growth of revenue (<strong>P x Q</strong>) becomes compromised, depreciating overall value. Within the protocol itself, is the token’s ultimate reward a result of <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">active or passive work</a>(monetizable reward based on user action versus sharing or disclosing data about the user)? Going back to the aforementioned equation for each ICO will give you a good idea as to the potential of the project in increasing its value over time.<em>References used: 2-3, 5, 9, 11</em></p>\n<h4><strong>Bounty Program: 4/11 mentions</strong></h4>\n<p>It is now commonplace for ICOs to have bounty programs (for example, Finnoq’s can be found <a href=\"https://www.finnoq.com/en/bounty/\">here</a>). The company will offer tokens to participants who are willing to promote and refer the ICO, or look at <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">bugs in the code</a> in order to improve the functionality of the protocol itself. With that being said, striking that balance between evaluating community presence (as discussed above) and filtering out the white noise hype is crucial for you the ICO participant. Why? When users are obligated to <a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\">spread positive information for rewards</a> and <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">stimulate hype around the project</a> (without the necessary objectivity you need to make good decisions), you will receive a skewed perspective of what the company is actually capable of post-ICO. To avoid the counterproductive hype, have a look at <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">website traffic and growth</a> related to the company in order to objectively evaluate if the bounty is overdone or not.<em>References used: 1, 4, 7, 10</em></p>\n<h4><strong>Coin Distribution: 4/11 mentions</strong></h4>\n<p>Related to the business model mentioned in part one and token economics mentioned directly above, coin distribution has many facets within the context of an ICO. <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">When and how tokens are distributed</a>, as well as how <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">token giveaways</a> or discounts are determined (to encourage <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">“hodling” or profit taking upon launch</a>) is crucial in understanding what your expectations should be as a participant in an ICO. Further, tokens <a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\">should come directly from the blockchain</a>, if possible, in order to ensure that any participant can indeed do so in an exchange for resources.<em>References used: 2, 4, 8, 10</em></p>\n<h4><strong>On Exchanges?: 4/11 mentions</strong></h4>\n<p><a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">Which exchanges will the token be on</a>? Growth of a company conducting an ICO can depend on the <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">amount of exchanges it is listed</a>, if this is a <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">key factor in the realization of returns</a>. Additionally to the later point, if the token is to be listed on many exchanges, the listing of partners and <a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\">industry/institutional backing</a> of the project is necessary to know both who expressed interest and what their intentions are in collaboration with the project.<em>References used: 1, 3-4, 6</em></p>\n<h4><strong>Voting Consensus: 4/11 mentions</strong></h4>\n<p>Does the ICO in which one wishes to participate grant a governance function, <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">such as voting on a consensus related or other decision-making factor</a>? If so, <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">what is the consensus algorithm used by the project and how was it picked</a>? If not, one must obtain the pertinent information as to whether the coin or token proposed is <a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">structured with a centralized or decentralized governance</a> altogether. Perhaps the project itself is predicated solely on <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">governance</a>, and if this is the case, treat the documentation of the project with as great of due diligence as you would under normal situations (go back to the essentials in part one to start).<em>References used: 2, 4, 8, 11</em>&nbsp;</p>\n<h2>CONCLUSION</h2>\n<p>This time, we took a deep dive, looking at factors required to evaluate ICOs. As mentioned in the first part, if you read any one of these sources, you’d have part of the map in finding the pirate’s lost treasure. However, in the cryptocurrency space, you need the full map or you’ll get lost at sea. Hence, by receiving a collective statement, we can obtain better, collective advice and make better financial decisions on tokenized assets.By understanding the essentials in the <a href=\"https://www.finnoq.com/en/blog/ico-evaluation-1/\">first part</a> as well as the deeper dive taken during part two, you are that much closer to evaluating ICOs properly and effectively. As we move into the third part of this blog, we will discuss the most granular, specific factors to consider when evaluating ICOs. We look forward to hearing your comments on part one, and do not hesitate to contact us with your thoughts on anything <a href=\"https://www.finnoq.com/en/\">Finnoq</a> related.&nbsp;</p>\n<h2>DISCLAIMER</h2>\n<p>Although we believe there are 18 factors worth mentioning, it is not for us to decide on the protocol. This is just an example. Our proposed protocol seeks to decentralize power. Thus, it is you the global community who decides what is important knowledge, and not us. Additionally, results in an actualized protocol would be anonymous; thus, attributing answers to particular members of the community would never happen. What we found does not indicate that the source is somehow uninterested in other parts. The authors wrote articles focused on elements pertaining to ICO evaluations; if we were to ask the question on the actual protocol, their responses would probably be different. That being said, we would still collect the responses and be able to give better advice than any one single contributor (as no one contributor made mention of all 18 factors). Finally, rewards and incentives for answering questions will be discussed in greater detail in a later blog series, so stay tuned. The point of this exercise was to show that many minds are better than one.&nbsp;</p>\n<p><br></p>\n<p><em><strong>SOURCES USED</strong></em></p>\n<p><a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\"><em>https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921</em></a><em><br>\n</em><a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\"><em>https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416</em></a><em><br>\n</em><a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"><em>https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99</em></a><em><br>\n</em><a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\"><em>https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0</em></a><em><br>\n</em><a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\"><em>https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/</em></a><em><br>\n</em><a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"><em>https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/</em></a><em><br>\n</em><a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\"><em>https://www.coinannouncer.com/4-keys-evaluating-ico-investments/</em></a><em><br>\n</em><a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"><em>https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933</em></a><em><br>\n</em><a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\"><em>https://www.bitcoinmarketjournal.com/ico-due-diligence/</em></a><em><br>\n</em><a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"><em>https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888</em></a><em><br>\n</em><a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\"><em>https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb</em></a><em><br>\n</em></p>\n</html>",
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    {
      "parent_author": "",
      "parent_permlink": "ico",
      "author": "finnoq",
      "permlink": "evaluating-icos-2-from-essentials-to-the-deep-dive-in-evaluating-icos",
      "title": "Evaluating ICOs 2: from Essentials to the Deep Dive in Evaluating ICOs",
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      "json_metadata": "{\"tags\":[\"ico\",\"ico-evaluation\",\"blockchain\"],\"image\":[\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/06/29/finnoq_blog_icoevaluation2.jpg\",\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/07/DeepDive-Blog.png\",\"https://media.finnoq.com/media/filer_public_thumbnails/content/2018/06/29/deepdive.jpg__1140x300_q85_subsampling-2.jpg\"],\"links\":[\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\",\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\",\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\",\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\",\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\",\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\",\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\",\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\",\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\",\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\",\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\",\"https://www.finnoq.com/en/bounty/\",\"https://www.finnoq.com/en/blog/ico-evaluation-1/\",\"https://www.finnoq.com/en/\"],\"app\":\"steemit/0.1\",\"format\":\"html\"}"
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{
  "trx_id": "e081fac326b856dc22303502f1408f6d2492f9d0",
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      "parent_permlink": "ico",
      "author": "finnoq",
      "permlink": "evaluating-icos-3-let-s-get-granular-and-talk-specifics",
      "title": "Evaluating ICOs 3: let’s get Granular and talk Specifics",
      "body": "<html>\n<p><img src=\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/07/05/finnoq_blog_icoevaluation3.jpg\" width=\"1200\" height=\"628\"/></p>\n<p>In parts one and two of this three-part blog series, we discussed 11 sources and what they considered to be the essential and deep dive factors when evaluating ICOs. For the third part below, we give consideration to the specifics.</p>\n<p>These are the granular factors to consider, mentioned three or fewer times among the 11 sources. The factors we will analyze below are not less important; rather, keep them in mind as possible reasons why to participate in an ICO or not.</p>\n<p><img src=\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/07/ICO-Evaluation-3.png\" width=\"599\" height=\"235\"/></p>\n<h1>CATEGORY 3: DEEP DIVE</h1>\n<h4><strong>Legality / Contingency: 3/11 mentions</strong></h4>\n<p>All projects following through with an ICO are subject to the laws in which the project exists; government institutions need not only to sign off on such a project, but regulations in any jurisdiction where the token will have ownership can make it illegal to use or trade that token. <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">A new regulation can critically undermine the project</a> and thus, as an ICO participant must determine if this is <a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\">important to you</a>. For ICOs looking to reach the USA in particular, knowing if the ICO is structured as a <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">corporate or non-corporate entity and is SEC compliant</a> are huge factors not to be overlooked when deciding if that ICO is a good idea.<em>References used: 3, 4, 6</em>&nbsp;</p>\n<h4><strong>Guaranteed Returns = Red Flags: 2/11 mentions</strong></h4>\n<p>As an additional tidbit to consider: be wary of any ICO offering guaranteed rates of return to investors. As <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">scammers are pervasive</a> in this new digital world, they understand the motivations of participating in an ICO by putting guaranteed returns in their marketing materials and white paper. Consider this as a <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">red flag</a> and look elsewhere. Projects solely driven by guaranteed rates of return are in the wrong business anyway!<em>References used: 3-4</em></p>\n<p><img src=\"https://media.finnoq.com/media/filer_public_thumbnails/content/2018/07/05/blog_legality-of-ico.jpg__1140x621_q85_subsampling-2.jpg\" width=\"1140\" height=\"621\"/></p>\n<h4><strong>Investor Ownership Rights: 2/11 mentions</strong></h4>\n<p>All need to understand from something very important the start: sometimes, the<a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"> token represents ownership in the future profits of the network or ownership in another asset </a>altogether. If this is the case, the ICO actually will look and feel like a traditional equity raise instead of an ICO. As a potential Token Sale participant, you must determine whether the token affords a sort of ownership, whether <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">real or a proxy to a value</a> in the future.<em>References used: 2, 8</em>&nbsp;</p>\n<h4><strong>Speculation: 2/11 mentions</strong></h4>\n<p>As a potential participant in a token sale, one must ask if the project is conducting an ICO for means <a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\">other than speculation</a>. This notion is tied into investor ownership rights above and the business model in part one. Hype and speculation must be put aside in determining if the <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">value created by the project will be linked to its inherent value</a>. Once it has been determined whether the token is entirely speculative and has no current real value, you must weigh if the idea is good enough to wait for future gains while present gains can be made today.<em>References used: 3, 6</em>&nbsp;</p>\n<h2>CONCLUSION</h2>\n<p>This time, we looked at the specific factors required to evaluate ICOs. As mentioned in the parts <a href=\"https://www.finnoq.com/en/blog/ico-evaluation-1/\">one</a> and <a href=\"https://www.finnoq.com/en/blog/ico-evaluation-2/\">two</a>, if you read any one of these sources, you’d be have a piece of the puzzle, but never enough to construct the entire puzzle and hang it up on the wall. Hence, by receiving a collective statement, we can obtain collective advice and make better financial decisions on tokenized assets. Get out the frame, because you’ll be hanging that puzzle on the wall in no time!By understanding the essentials, taking a deep dive, and taking out the microscope to look at the specifics, effectively evaluating ICOs becomes easier. We look forward to hearing your comments on this three-part series, and do not hesitate to contact us with your thoughts on anything <a href=\"https://www.finnoq.com/en/\">Finnoq</a> related.&nbsp;</p>\n<h2>DISCLAIMER</h2>\n<p>Although we believe there are 18 factors worth mentioning, it is not for us to decide on the protocol. This is just an example. Our proposed protocol seeks to decentralize power. Thus, it is you the global community who decides what is important knowledge, and not us. Additionally, results in an actualized protocol would be anonymous; thus, attributing answers to particular members of the community would never happen. What we found does not indicate that the source is somehow uninterested in other parts. The authors wrote articles focused on elements pertaining to ICO evaluations; if we were to ask the question on the actual protocol, their responses would probably be different. That being said, we would still collect the responses and be able to give better advice than any one single contributor (as no one contributor made mention of all 18 factors). Finally, rewards and incentives for answering questions will be discussed in greater detail in a later blog series, so stay tuned. The point of this exercise was to show that many minds are better than one.&nbsp;</p>\n<p><br></p>\n<p><em><strong>SOURCES USED</strong></em></p>\n<p><a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\"><em>https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921</em></a><em><br>\n</em><a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\"><em>https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416</em></a><em><br>\n</em><a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"><em>https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99</em></a><em><br>\n</em><a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\"><em>https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0</em></a><em><br>\n</em><a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\"><em>https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/</em></a><em><br>\n</em><a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"><em>https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/</em></a><em><br>\n</em><a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\"><em>https://www.coinannouncer.com/4-keys-evaluating-ico-investments/</em></a><em><br>\n</em><a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"><em>https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933</em></a><em><br>\n</em><a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\"><em>https://www.bitcoinmarketjournal.com/ico-due-diligence/</em></a><em><br>\n</em><a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"><em>https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888</em></a><em><br>\n</em><a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\"><em>https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb</em></a><em>&nbsp;</em></p>\n</html>",
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{
  "trx_id": "302733d9a84edaa4272afe882fadc046300f1916",
  "block": 24831531,
  "trx_in_block": 41,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-08-06T13:46:06",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "ico",
      "author": "finnoq",
      "permlink": "evaluating-icos-2-from-essentials-to-the-deep-dive-in-evaluating-icos",
      "title": "Evaluating ICOs 2: from Essentials to the Deep Dive in Evaluating ICOs",
      "body": "<html>\n<p>In the first blog, we gave you an overview of how you as an investor need more than a ratings website and one industry source in order to put your money into an ICO. Further, we tried to highlight our approach in this ongoing example: many sources are better than one when obtaining financial advice and making sound financial decisions.</p>\n<p>At Finnoq, our decentralized protocol is aimed at creating a space for premium, unbiased, and collective advice. With that in mind, let’s continue with our discussion on ICO evaluation. This time, we are taking a look at a few more factors, a bit more complex than the essentials.</p>\n<h2>We call them the “Deep Dive”, and they are listed below:</h2>\n<p><img src=\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/07/DeepDive-Blog.png\" width=\"604\" height=\"434\"/></p>\n<p><br></p>\n<h1>CATEGORY 2: DEEP DIVE</h1>\n<h4><strong>Community Presence: 6/11 mentions</strong></h4>\n<p>Looking at the <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">size and activity</a> of the community (not just <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">the company-paid press releases</a>) as well as company media presence are strong considerations of a potential ICO’s success. Venture capital firms or industry-specific investors put their money where their mouths are, placing their resources with a high degree of confidence once they have the ability to <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">scrutinize the writings</a> of a project. Today when a potential ICO is being marketed on social media, having a look at<a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\"> other people’s perspective</a> can be helpful in knowing what projects are more legitimate than others (until the Finnoq protocol comes out!). Legitimate projects have <a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\">active, open discussions</a> across social media, including transparency and quick response times from the team. If a team is <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">changing directions</a> with no regard for others, while also not sending the necessary updates regarding such changes, be wary of the project’s ability to succeed post-ICO. As mentioned in part one, transparency is key!<em>References used: 1, 3, 7-8, 10-11</em></p>\n<h4><strong>Fundraising - Soft/Hard Cap: 6/11 mentions</strong></h4>\n<p><a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">How much is the ICO trying to raise and why?</a> What is the <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">minimum and/or maximum fundraising threshold</a> for the ICO, and a hypothetical <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">cap on funds raised</a>? These are some basic questions one has to ask in 2018, as the ICO sphere has become much more complex today than the nascent days of crypto. While some ardently believe that participation in ICOs shall remain with companies touting a definitive soft/hard (minimum/maximum) cap on funds (if the project is pre-product), many ICOs these days even hype a hard/unlimited cap today. By doing so, not only could this create unrealistic and lofty expectations, but there are practical instances where this <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">resulted in no percentage gain for the investors</a>, because too many flocked in during a short period of time. Also, consider how hype could lead ICO participants into a full-blown scam. By having an unlimited cap or no definite time period for ending the token sale, the company exposes itself as being <a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\">without a solid plan of what it needs</a> to get the project running.<em>References used: 4-5, 8-11</em></p>\n<h4><strong>Management: 6/11 mentions</strong></h4>\n<p>Relevant to fundraising: how many tokens will be owned by the<a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\"> foundation, founders</a>, and team? Is there a plan set out for the<a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"> management of accounts and audits</a>? In general, the founding team<a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"> should own between 10% and 50% of the token</a> and should not receive liquidity within the first three years; be suspicious of any team token ownership<a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"> set at more than 50%</a>. Ask how<a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"> holdings are calculated</a> as well as for financial projections to ensure there is<a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\"> enough revenue to cover expenses with a margin for growth</a>.<em>References used: 3-4, 6, 8-10</em></p>\n<h4><strong>Beta Testing: 5/11 mentions</strong></h4>\n<p>How much has the product (as integrated on the blockchain) been<a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"> tested</a>? Besides an alpha, having a<a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"> beta version</a> or<a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"> testnet is a good indication</a> that the founding team will be able to “execute their vision”. To that end, a team possessing proof of concept (POC) or minimum viable product (MVP) shows “the<a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"> personal investment made by founders</a> to develop their idea before seeking funding”. Alternatively, not having a POC or MVP should raise red flags as to whether the project is both<a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\"> viable and credible</a>.<em>References used: 1, 3, 6, 8, 10</em></p>\n<p><br></p>\n<p><img src=\"https://media.finnoq.com/media/filer_public_thumbnails/content/2018/06/29/deepdive.jpg__1140x300_q85_subsampling-2.jpg\" width=\"1140\" height=\"300\"/></p>\n<p><br></p>\n<p><strong>Token Economics: 5/11 mentions</strong></p>\n<p>The subject of token economics has many facets, and is usually a subject on its own for any one contributor. That being said, without understanding some basics on token economics, a participant might place resources into an ICO that either requires <a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\">mass adoption of use</a> or pure speculation (discussed in part three) to increase value over time. Immediately post-ICO, what happens if the proposed <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">maximum token supply exceeds the initial circulation</a>? If it doesn’t, what will the team do with unsold tokens? Burning <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">(destroying) or redistributing unsold tokens</a> can also impact the initial value of each token after the ICO and consequently, how participants behave with tokens valued differently than originally intended. Consider the equation of exchange, which states the nominal total of the resource supply multiplied by the velocity of that resource (the frequency as which the unit is being used) is equal to the resource’s price level multiplied by its quantity. The equation looks as follows: <strong>M x V = P x Q</strong> The token must <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">align incentives to simultaneously accelerate growth and token value</a>. In achieving token value, scarcity of token is one means to achieve the objective. Consider that - for example - indefinitely printing tokens causes an <a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">inflationary spiral</a> (as is the case with any currency). Further, if the token only proposes an increase in exchange (<strong>V</strong>) within its system, growth of revenue (<strong>P x Q</strong>) becomes compromised, depreciating overall value. Within the protocol itself, is the token’s ultimate reward a result of <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">active or passive work</a>(monetizable reward based on user action versus sharing or disclosing data about the user)? Going back to the aforementioned equation for each ICO will give you a good idea as to the potential of the project in increasing its value over time.<em>References used: 2-3, 5, 9, 11</em></p>\n<h4><strong>Bounty Program: 4/11 mentions</strong></h4>\n<p>It is now commonplace for ICOs to have bounty programs (for example, Finnoq’s can be found <a href=\"https://www.finnoq.com/en/bounty/\">here</a>). The company will offer tokens to participants who are willing to promote and refer the ICO, or look at <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">bugs in the code</a> in order to improve the functionality of the protocol itself. With that being said, striking that balance between evaluating community presence (as discussed above) and filtering out the white noise hype is crucial for you the ICO participant. Why? When users are obligated to <a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\">spread positive information for rewards</a> and <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">stimulate hype around the project</a> (without the necessary objectivity you need to make good decisions), you will receive a skewed perspective of what the company is actually capable of post-ICO. To avoid the counterproductive hype, have a look at <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">website traffic and growth</a> related to the company in order to objectively evaluate if the bounty is overdone or not.<em>References used: 1, 4, 7, 10</em></p>\n<h4><strong>Coin Distribution: 4/11 mentions</strong></h4>\n<p>Related to the business model mentioned in part one and token economics mentioned directly above, coin distribution has many facets within the context of an ICO. <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">When and how tokens are distributed</a>, as well as how <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">token giveaways</a> or discounts are determined (to encourage <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">“hodling” or profit taking upon launch</a>) is crucial in understanding what your expectations should be as a participant in an ICO. Further, tokens <a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\">should come directly from the blockchain</a>, if possible, in order to ensure that any participant can indeed do so in an exchange for resources.<em>References used: 2, 4, 8, 10</em></p>\n<h4><strong>On Exchanges?: 4/11 mentions</strong></h4>\n<p><a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">Which exchanges will the token be on</a>? Growth of a company conducting an ICO can depend on the <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">amount of exchanges it is listed</a>, if this is a <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">key factor in the realization of returns</a>. Additionally to the later point, if the token is to be listed on many exchanges, the listing of partners and <a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\">industry/institutional backing</a> of the project is necessary to know both who expressed interest and what their intentions are in collaboration with the project.<em>References used: 1, 3-4, 6</em></p>\n<h4><strong>Voting Consensus: 4/11 mentions</strong></h4>\n<p>Does the ICO in which one wishes to participate grant a governance function, <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">such as voting on a consensus related or other decision-making factor</a>? If so, <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">what is the consensus algorithm used by the project and how was it picked</a>? If not, one must obtain the pertinent information as to whether the coin or token proposed is <a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">structured with a centralized or decentralized governance</a> altogether. Perhaps the project itself is predicated solely on <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">governance</a>, and if this is the case, treat the documentation of the project with as great of due diligence as you would under normal situations (go back to the essentials in part one to start).<em>References used: 2, 4, 8, 11</em>&nbsp;</p>\n<h2>CONCLUSION</h2>\n<p>This time, we took a deep dive, looking at factors required to evaluate ICOs. As mentioned in the first part, if you read any one of these sources, you’d have part of the map in finding the pirate’s lost treasure. However, in the cryptocurrency space, you need the full map or you’ll get lost at sea. Hence, by receiving a collective statement, we can obtain better, collective advice and make better financial decisions on tokenized assets.By understanding the essentials in the <a href=\"https://www.finnoq.com/en/blog/ico-evaluation-1/\">first part</a> as well as the deeper dive taken during part two, you are that much closer to evaluating ICOs properly and effectively. As we move into the third part of this blog, we will discuss the most granular, specific factors to consider when evaluating ICOs. We look forward to hearing your comments on part one, and do not hesitate to contact us with your thoughts on anything <a href=\"https://www.finnoq.com/en/\">Finnoq</a> related.&nbsp;</p>\n<h2>DISCLAIMER</h2>\n<p>Although we believe there are 18 factors worth mentioning, it is not for us to decide on the protocol. This is just an example. Our proposed protocol seeks to decentralize power. Thus, it is you the global community who decides what is important knowledge, and not us. Additionally, results in an actualized protocol would be anonymous; thus, attributing answers to particular members of the community would never happen. What we found does not indicate that the source is somehow uninterested in other parts. The authors wrote articles focused on elements pertaining to ICO evaluations; if we were to ask the question on the actual protocol, their responses would probably be different. That being said, we would still collect the responses and be able to give better advice than any one single contributor (as no one contributor made mention of all 18 factors). Finally, rewards and incentives for answering questions will be discussed in greater detail in a later blog series, so stay tuned. The point of this exercise was to show that many minds are better than one.&nbsp;</p>\n<p><br></p>\n<p><em><strong>SOURCES USED</strong></em></p>\n<p><a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\"><em>https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921</em></a><em><br>\n</em><a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\"><em>https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416</em></a><em><br>\n</em><a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"><em>https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99</em></a><em><br>\n</em><a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\"><em>https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0</em></a><em><br>\n</em><a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\"><em>https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/</em></a><em><br>\n</em><a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"><em>https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/</em></a><em><br>\n</em><a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\"><em>https://www.coinannouncer.com/4-keys-evaluating-ico-investments/</em></a><em><br>\n</em><a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"><em>https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933</em></a><em><br>\n</em><a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\"><em>https://www.bitcoinmarketjournal.com/ico-due-diligence/</em></a><em><br>\n</em><a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"><em>https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888</em></a><em><br>\n</em><a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\"><em>https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb</em></a><em> <br>\n</em></p>\n</html>",
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      "title": "Evaluating ICOs 1: a Use Case Example of Creating Robust and Collective Advice",
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      "json_metadata": "{\"tags\":[\"ico\",\"ico-rating\",\"tokensale\",\"blockchain\",\"amiright\"],\"image\":[\"https://media.finnoq.com/media/filer_public_thumbnails/content/2018/06/26/stevejobsquote.jpg__1170x0_q85_subsampling-2_upscale.jpg\",\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/06/27/Table-ICOEvaluation1.png\"],\"links\":[\"https://medium.com/@VidrihMarko/report-its-so-easy-to-buy-expert-ratings-on-icobench-56c10ea4e035\",\"https://blockonomi.com/alethena-fake-reviews/\",\"https://www.livebitcoinnews.com/denaro-ico-raises-8-7m-and-goes-up-in-smoke/\",\"https://www.tokenicide.com/opinion/fall-guy-ico-industry/\",\"https://www.youtube.com/watch?reload=9&v=gJCG4OPqsYs\",\"https://bitcoinexchangeguide.com/benebit-pulls-an-exit-scam-disappearing-with-3-million-in-ico-funds/\",\"https://www.cointelligence.com/content/unveiling-ico-scams-a-simple-guide/\",\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\",\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\",\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\",\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\",\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\",\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\",\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\",\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\",\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\",\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\",\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\",\"https://www.finnoq.com/en/\"],\"app\":\"steemit/0.1\",\"format\":\"html\"}"
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      "author": "finnoq",
      "permlink": "evaluating-icos-1-a-use-case-example-of-creating-robust-and-collective-advice",
      "title": "Evaluating ICOs 1: a Use Case Example of Creating Robust and Collective Advice",
      "body": "<html>\n<p>This is the first of three blogs demonstrating a comprehensive framework for evaluating ICOs. By compiling eleven sources of information - from industry leaders and crypto enthusiasts who have addressed this topic - we were able to create a sample tiered system for evaluating ICOs.</p>\n<p>In this first blog, we will discuss the essentials when evaluating ICOs (those factors mentioned in at least seven of the eleven sources). In the second part, we will take a deeper dive (factors mentioned in at least four but not more than six out of the eleven sources). In the third blog, we will discuss specifics (factors mentioned in at most three of the eleven sources). By doing so, one thing will be very clear: many minds giving collective advice affords the Token Sale participant&nbsp;better, more robust information on financial inquiries. This is what we strive for at Finnoq, and hope this three-part series will be instructive. By helping you make better ICO decisions with more complete advice and also by illustrating our mindset, our mission to show an example framework for unbiased advice begins now.</p>\n<h1>ICO RATING WEBSITES: A NOBLE, “WORK IN PROGRESS” BUSINESS SOLUTION</h1>\n<p>In order to adjust to the quickly-evolving cryptocurrency market, many websites were set up with the intention of evaluating ICOs via easy and understandable ratings. Although a noble initiative, these websites do have shortcomings, reflective of the systemic and centralized crossroads at which early blockchain adopters exist. First, it has been widely reported that ICO ratings can be sometimes for sale, as apparently <a href=\"https://medium.com/@VidrihMarko/report-its-so-easy-to-buy-expert-ratings-on-icobench-56c10ea4e035\">“It’s so easy to buy expert ratings”</a> through alleged <a href=\"https://blockonomi.com/alethena-fake-reviews/\">backroom Telegram deals</a>. Although this blog explicitly seeks not to condemn any site in particular, it is instructive for future ICO participant&nbsp;to understand how ratings can operate from a B2B perspective.Second, ICO trackers unfortunately do not always have the systems in place to recognize a <a href=\"https://www.livebitcoinnews.com/denaro-ico-raises-8-7m-and-goes-up-in-smoke/\">scam</a>, as capacity to conduct proper due diligence is not matched with the speed at which the onslaught of ICOs hit the marketplace. Thirdly, there are just <a href=\"https://www.livebitcoinnews.com/denaro-ico-raises-8-7m-and-goes-up-in-smoke/\">not enough reviewers</a> on ICO rating sites as of today, and those who rate could also be participating in a bounty program. Giving outstanding ratings to a mediocre project in order to get some free tokens in the future is understandable, yet unhelpful for a less-knowledgeable yet curious participant. Many of the problems mentioned above can be found <a href=\"https://www.tokenicide.com/opinion/fall-guy-ico-industry/\">here</a>.&nbsp;Have a look the recent examples of the fraudulent <a href=\"https://www.youtube.com/watch?reload=9&amp;v=gJCG4OPqsYs\">BlockBroker</a> and <a href=\"https://bitcoinexchangeguide.com/benebit-pulls-an-exit-scam-disappearing-with-3-million-in-ico-funds/\">Benebit ICOs</a>, as well as this guide of how to <a href=\"https://www.cointelligence.com/content/unveiling-ico-scams-a-simple-guide/\">unveil an ICO scam</a>.As you can see, an ICO rating website might seem convenient, but relying on one single site or method can get an you in a lot of trouble without having a proper framework for ICO evaluation. While ICO ratings websites can be very helpful, the decision maker needs collective advice from many sources to make optimal choises (our philosophy at Finnoq).</p>\n<p><img src=\"https://media.finnoq.com/media/filer_public_thumbnails/content/2018/06/26/stevejobsquote.jpg__1170x0_q85_subsampling-2_upscale.jpg\" width=\"1170\" height=\"308\"/></p>\n<p><br></p>\n<h1>HYPOTHETICAL EXPERIMENT</h1>\n<p>No blog from an agile startup would be complete without a Steve Jobs quote, #amiright?&nbsp;At Finnoq, we are building a protocol to create decentralized and crowdsourced advice, whereby community members can pose questions and get the most out of their inquiry. In doing so, Advisors can earn rewards by giving their best counsel as deemed by our global community.Within our protocol, many use cases could exist. In this blog, we’d not only like to give you some more robust advice on how experts evaluate ICOs, but also how we guarantee that several opinions gives you the ICO participant more complete advice.&nbsp;How are we so confident? In this instance, we analyzed 18 factors among industry specialists who sought to evaluate ICOs (11 sources). What did we find? <strong>No one source contained all 18 factors.</strong> Thus, no single opinion provided “optimal” advice in this exercise. Imagine what would happen if more options were possible, if a global community of 1.000 or more advisors&nbsp;responded to the same question, and if questions were posed on each individual factor.This is a smaller, less-perfect sample collective statement on a framework for ICO evaluations. This example is neither optimal (as it is not us who decide what is good advice, but you) nor particular to any ICO; rather, we seek to show you how to evaluate ICOs going forward, and also how we at Finnoq contemplate financial advisory.With that being said, let’s get down to business!</p>\n<h1>MORE ROBUST ICO EVALUATION: SAMPLE USE CASE IN ACTION</h1>\n<p>If we can all agree that many decentralized opinions are better than one, then let’s actually take a look at what some industry specialists had to say on the subject. We evaluated 11 sources (listed below and cited accordingly), finding (at least) 18 factors worth mentioning. When asking the hypothetical question “Which factors are the most important in evaluating an ICO?”, these would be some sample responses.This is just to show you where our heads are: many well-intentioned minds are better than one. Without further adieu, our results can be grouped as follows (with a table and analysis below):</p>\n<ul>\n  <li>ESSENTIALS: 7 or more sources mentioned this factor in evaluating ICOs</li>\n  <li>DEEPER DIVE: 4-6 sources mentioned this factor in evaluating ICOs</li>\n  <li>SPECIFICS: 3 or fewer sources mentioned this factor in evaluating ICOs</li>\n</ul>\n<h2>The results are in this table below:</h2>\n<p><img src=\"https://s3.eu-central-1.amazonaws.com/finnoq-platform/media/content/2018/06/27/Table-ICOEvaluation1.png\" width=\"2282\" height=\"794\"/></p>\n<h2>ANALYSIS</h2>\n<p>In this first part, we will discuss only the “essentials” in greater detail. Stay tuned for the second and third parts of this evaluation (to be published in the coming days).</p>\n<h1>Category 1: ESSENTIALS</h1>\n<p>The following factors were considered essential in this framework (7 or more mentions):</p>\n<h4><strong>Core Team &amp; Advisors: 10/11 mentions</strong></h4>\n<p>It is important to look long and hard at the team. By understanding their previous relevant experience and making a judgment call as to their ability to grow a business post-ICO, it will be clear whether the ICO is&nbsp;worthy or not. Further, one must be able to differentiate whether advisors are there to provide guidance or if they are only part of the <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">marketing strategy</a>, when the company is just <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">“window dressing”</a>. Also, if there are <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">more advisors than actual team members</a>, be wary. Finally, not only should the identity of the team be known (if not, run away), but the team members should be transparent, <a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">accessible</a>, and <a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\">approachable on social media</a> or within a <a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\">community</a>. Community presence in particular will be discussed in the second part of this series.<em>References used: 1, 3-11</em></p>\n<h4><strong>Business Model: 9/11 mentions</strong></h4>\n<p>How the company will operate? In practice, “The Achilles heel of token-based models will be how they are concocted to interact with the <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">business model</a> that underlies them.” In particular, Mougayar asks whether buying or selling something is part of the company’s business model. Further, several sources seek to<a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\"> verify the purpose of the tokens</a> being offered. Knowing <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">what kind of token is being issued by the startup</a> (equity, utility, other), <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">for what purpose</a>, and whether the tokens implicitly <a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">represent something else of value</a> can determine if the coin is <a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\">merely a fundraising tool with no return for coin holders</a> (potentially bad sign!). Also, if the marketing materials present a <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">skewed focus towards return on investment</a>, perhaps the token is actually useless except in accumulating short-term profits for the ICO participants and the team. Perhaps most importantly, knowing how much progress and <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">traction the team has built to date</a>, the <a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\">timetable when the product or service hits the market</a>, and <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">roadmap of milestones of how proceeds will be used</a> gives you an idea of how the business is performing, both now and in the future.<em>References used: 1-6, 9-11</em></p>\n<h4><strong>Market &amp; Competition: 8/11 mentions</strong></h4>\n<p>You&nbsp;must also look at the current market and competition. <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">Is there a market for the product or service</a> (are there others already doing this?), and if so, does the token enable the user to contribute to a <a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\">value-adding action</a> for the network/market upon which it is being built? Is the project demonstrated by the company unique or an attempt to <a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\">build upon the strengths</a> of an existing service? If the product or service is already being done, is the operation done by a <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">centralized entity</a> (if not, the blockchain could be a natural competitive advantage!)? Additionally, what is the <a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\">real market strength, market cap value, and how will projected earnings of the project</a> be factored in the future? In other words, understanding <a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\">market potential</a>, whether it is <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">likely to grow</a>, and <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">who the competitors are</a> can be a helpful insight into the future success or failure of an ICO. If the competition is stacked, the market is saturated, and the market is on the decline, the ICO might just be a pipedream.<em>References used: 1-7, 9</em></p>\n<h4><strong>White Paper: 8/11 mentions</strong></h4>\n<p><a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">Everything starts</a> with analysis of the White Paper; crucial in evaluating ICOs, it is “is the <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">most fundamental medium</a> for communicating to ICO participants and users the objective and design of a project.” You&nbsp;should begin <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">by reading the white paper</a>, reviewing it <a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\">carefully and in full</a> to get a <a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\">look at the big picture</a>. When the technical document “demonstrates research and <a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\">a clear reason to exist</a>”, the problem and solution can be identified for both business and consumer. As a potential ICO participant, be critical and note the strong and weak points of a project, because this document is the <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">“silver platter to potential investors”</a>.<em>References used: 1, 3-5, 7-8, 10-11</em></p>\n<h4><strong>Technology: 7/11 mentions</strong></h4>\n<p>The <a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\">founding team needs to demonstrate</a> a <a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\">strong technical reason for the protocol</a> itself, as well as the token. If such a justification does check out, then an you must inquire about the technical details (<a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\">is the code open source</a> and if so, <a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\">where can I find the source code?</a>) In order to analyze the protocol, one must <a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\">check out the code of the project</a> to determine <a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\">its quality and necessity</a> for the proposed ICO. As many have already found out, the <a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\">universal law that using blockchain technology is better</a> has been debunked. Believing in a company that employs&nbsp;the appropriate technology and justifying its necessity is crucial in going forward with an ICO.<em>References used: 1, 3-4, 6, 8, 10-11</em><br>\n&nbsp;</p>\n<h2>CONCLUSION</h2>\n<p>As you see, we looked at some of the essential factors in evaluating ICOs. In practice, if you read any one of these sources, you’d be able to get “good enough” information. However, in a more volatile marketplace than that of traditional asset classes - including scams, complex technological concepts, and immense subjectivity determined by a small group of centralized actors - you need better than “good enough” information. Unfortunately for all of us, “good enough” just isn’t good enough. Fortunately for all of us, by receiving a collective statement, we are in much better shape to receive advice and ultimately make better decisions.Understanding the essentials above will give you a solid foundation for building the comprehensive framework to evaluate ICOs like an industry pro. Stay tuned for part two of this blog, as we discuss those deep dive factors. We look forward to hearing your comments on part one, and do not hesitate to contact us with your thoughts on anything <a href=\"https://www.finnoq.com/en/\">Finnoq</a> related.</p>\n<h2>DISCLAIMER</h2>\n<p>Although we believe there are 18 factors worth mentioning, it is not for us to decide on the protocol. This is just an example. Our proposed protocol seeks to decentralize power. Thus, it is you the global community who decides what is important knowledge, and not us. Additionally, results in an actualized protocol would be anonymous; thus, attributing answers to particular members of the community would never happen. What we found does not indicate that the source is somehow uninterested in other parts. The authors wrote articles focused on elements pertaining to ICO evaluations; if we were to ask the question on the actual protocol, their responses would probably be different. That being said, we would still collect the responses and be able to give better advice than any one single contributor (as no one contributor made mention of all 18 factors). Finally, rewards and incentives for answering questions will be discussed in greater detail in a later blog series, so stay tuned. The point of this exercise was to show that many minds are better than one.</p>\n<p><br></p>\n<p><strong>SOURCES USED<br>\n</strong><a href=\"https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921\"><em>https://blog.icofunding.com/how-icos-are-being-rated-and-how-to-evaluate-a-token-yourself-948cbef6a921</em></a><br>\n<a href=\"https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416\"><em>https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416</em></a><br>\n<a href=\"https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99\"><em>https://medium.crypto20.com/ico-evaluation-deep-dive-13-questions-to-ask-77ee444c0b99</em></a><br>\n<a href=\"https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0\"><em>https://medium.com/@petehumiston/50-questions-to-ask-when-evaluating-an-initial-coin-offering-ico-82d130501ee0</em></a><br>\n<a href=\"https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/\"><em>https://thenextweb.com/contributors/2017/12/18/4-step-guide-evaluating-mad-world-icos/</em></a><br>\n<a href=\"https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/\"><em>https://www.coindesk.com/moon-bust-questions-ask-evaluating-icos/</em></a><br>\n<a href=\"https://www.coinannouncer.com/4-keys-evaluating-ico-investments/\"><em>https://www.coinannouncer.com/4-keys-evaluating-ico-investments/</em></a><br>\n<a href=\"https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933\"><em>https://medium.com/@ntmoney/discussing-cryptotoken-best-practices-5ff4b9184933</em></a><br>\n<a href=\"https://www.bitcoinmarketjournal.com/ico-due-diligence/\"><em>https://www.bitcoinmarketjournal.com/ico-due-diligence/</em></a><br>\n<a href=\"https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888\"><em>https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/?fb_comment_id=1431590406935042_1468304953263587#f2a3f6fa9af888</em></a><br>\n<a href=\"https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb\"><em>https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb</em></a></p>\n</html>",
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