Everything about ICO and Token Development on Binance blockchain – A complete guide!

Launched in the year 2017 Binance coin was launched for initial coin offering or ICO and along with it BNB tokens were even distributed among the participants as well. As per an ICO Development Company in Kolkata, all of the BNB tokens developed were made available to the masses. The Binance platform was upgraded to launch ICOs which was considered best in terms of raising funds for workable projects.

What is ICO development?

Successive ICO development services offered by an ICO development company in the industry could include the launch of a coin, distribution, hosting it on the trading exchanges, and other services. Apart from developing your ICOs, these companies also work hard to provide the best token development services as well.

ICO is an alternative fundraising mechanism best suited for the start-ups and the new project developers who are interested in buying or selling the crypto tokens in exchange for other tokens. As per the Best ICO development company in India, you need to choose a tailor-made ICO development service provider that can fulfill all your project requirements. There are certainly other things to be remembered before the completion of your ICO token development process such as –

•    Developing the token
Before you launch your ICO you should look after or concentrate more on the token development process as it can help in building the best cryptocurrency tokens that can be prepared before the ICO launch.

•    Marketing of the ICOs
It is yet another important thing to be considered as only a dedicated and strategic ICO marketing strategy can help you move ahead and launch your ICO on the exchange platforms.

•    Building a strong community
The trade communities are basically blockchain-based solutions that can help in laying a strong foundation in terms of your ICO growth. This is the reason why you need to build independent and obvious communities across different categories.

•    White paper drafting
It is very important before launching an ICO that you check for accurate and thorough whitepaper services in terms of your newly developed coins entering the market.

The development of an ICO is basically a process incorporated by several companies for raising capital simply by mining coins/tokens and selling them in exchange as a form of investment. In order to develop an ICO platform, you need to hire the services of ICO platform developers.

How is a Binance coin best described?

According to a Token development company, a Binance coin is a digital asset developed by the exchange and the token comes embedded with a BNB symbol on it. The coin runs or operates as per ERC20 standard and is now native to the Binance chain. Some interesting features of a Binance coin can be listed as –

•    It is basically a cryptocurrency issued by the Binance exchange and can be used for investment purposes.

•    Primarily based on the Ethereum network, BNB is now native to Binance’s own blockchain.

•    Binance coins are stored in the treasury itself and one-fifth of the profit is used by Binance for repurchases.

•    A Binance coin is a utility token best suited for numerous applications such as payments of transaction fees directly on the Binance Chain, travel ticket bookings, online services, and other financial services.

Fifty percent of the funds raised from the ICOs are simply used for the branding and marketing purpose of Binance, and the rest one-third is applied to perform dispensable upgrades on the Binance ecosystem.

As suggested by an ICO development company, ICO or initial coin offering and token development is an innovative approach for fundraising through the use of digital currencies. Binance is a blockchain-based platform supporting many cryptocurrency projects and developing blockchain-based products, services on the platform as well. ICO will always be the best option for raising funds for startups that are at the early stage of development or are still developing.