HomeAnswerNotificationsCustomize Feeds
HOMEQUESTION
Which crypto project is live and did not have an ICO?
There are many crypto projects around and most of them started with an ICO. I am interested to know about projects without ICO and is already live and making progress. An example would be Bitcoin. It didn't have an ICO
$1.46
1 ANSWER

Our very own STEEM. 

There was no ICO for STEEM. The creators tried to launch the blockchain quietly. It is important to note that most of the Steem (currency) was mined before the introduction of its first condenser, Steemit. You know Steem is both the name of the blockchain and of its currency.

The issues with the launch of STEEM, was that some developers felt the mining process was rigged, to ensure that its creators have control over majority of supply. The platform was launched twice due some of those issues. It led to FUD at that time.

Nevertheless, I don't think there is anything wrong with the ICO model. The only challenge is that some of the projects that often run an ICO, do not actually have a need for creating tokens. That's one reason there's so many ICO scam out there. A project that wants to do an ICO, needs to think about the economic value creating a token would have on the project. You don't create tokens because other projects have tokens.

Just like Bitcoin, STEEM is another platform I know didn't do an ICO, I'm sure there are several others.

You can read more about STEEM here: https://www.steem.center/

$1.29
Reply