November 24th, 1859. The day “the origin of species” got published and the world was introduced with a unique theory of existence, reasons of existence and the processes of generation, evolution, and survival of different species. The oldest and with everlasting longevity were amoeba and others of the similar kind. They have been through all the ups and downs; through the rough phases presented by Mother Nature.
“The origin of species” was one of a kind book, written to target everyone, be read and comprehended by anyone. It was liked and had been popular among all the classes, be it students, researchers, scientists or visionaries. It was popular worldwide because of its neutral approach and comprehensive language. The theories are still applicable and the book was proved helpful for future biological and relative theoretical experiments and practical applications regarding the origin and evolution of different species on the planet earth.
The relative similarity between “the origin of species” and blockchain:
If Satoshi Nakamoto is “Darwin” of Crypto Age, and the cryptography is “the origin of species”, considering the fact that it all exists in the very world we all live and has a significant effect worldwide. It has been comprehended, eventually although, by almost the whole world, yet has turned out to be a popular and widely accepted phenomenon.
While other cryptocurrencies failed to survive and have lost their existence in the winds of change and evolution, just like the earlier “single-cell” organisms, before amoeba. Bitcoin, being the fittest of species, has been the “amoeba” of this relative hypothesis. It has been the cause, inspiration, and benchmark for other, more complex organisms to follow it. These organisms, Ethereum for instance, were introduced with a new concept of execution, which was ICO (initial coin offering). Relatively, natural principles of development, nutrition, growth, and reproduction have been prevalent and known to all.
The discussions, scientific and religious, in the time and for long:
“The origin of species” gave birth to various hot discussions, scientific-practical, and religious-orthodox, and similarly has blockchain. The Orthodox community, or the religious groups' dominant at that time, were not flexible enough to allow any new theories to be prevailing in the society they had been ruling since long. Likewise, the financial system which has been dominant since the society had been introduced with money and currency, does not wish to change and is rigid to its set trends since a couple of centuries. It's perhaps afraid of the importance it might lose if its principles would be replaced.
The book had conspired for a long time, and that reign is popularly known as “the eclipse of Darwinism”, ie from the 1880s to 1930s. Despite all the evidence and explanations, “the origin of species” was kept from the “acceptance” by the “responsible” for quite a long time. People were restricted from talking about “Darwin's theories” in public or on social platforms. The current time frame could be compared to the same reign, where people could not talk about “cryptography” in the financial meetings or the forums related with centralized banks or finance related social platforms, where monopoly is a butler to the big old banks and credit companies.
The co-existence and definition of “EVOLUTION”:
Likewise, there came a number of other enthusiasts, with new icons which turned to crypto coins on exchanges, and similar theories on the world's evolution, after “the origin of species”. The Darwin's theory was then found and proved to be practical and applicable, rather helpful in new biological findings. Similarly, the concept of ICO (initial coin offering) was introduced to the world. This led to a revolution, by opening doors of participation, monetarily, of “non-technical” individuals in the crypto world.
Like earlier, the concept has been questioned, has been challenged and unfortunately, because of a few irregularities and initial failures in the execution of some applications, (which was although a very small ratio compared to the successful ones), the critics got a chance to celebrate.
ICO-TIN, THE AFTERLIFE FOR “DARWIN”:
“The origin of species”, later was comparatively found to be almost a definition and explanation of the evolution of different species on earth. It was also explained, that what was the difference between the habitats of earth, to other planets probably, because of which, the LIFE was not probably possible elsewhere. Darwin didn't talk about that; neither did Nakamoto, about “ICOs”.
The ICOs have been challenged as a concept by authorities and “religious” bodies worldwide. These “religious” (rigid to the principles and unhappy to change) financial systems have their own limits. They make rigid mandates for every new integration or experiment, introduction or invention within the system. These mandates tend to be a “dead-end” for ICOs these days.
To provide a window in that “dead-end” for ICOs, and with more explanations and integrations to that “rigid mandate” policy of “religious bodies”, ICO-TIN has to come in picture. To provide the indispensable habitat for ICOs, and to make “Earth” different from other planets, ICO-TIN makes a safe mid-way between the progressive ICOs and the “religious” old financial systems.
ICO-TIN. THE ENVIRONMENT, AND THE OCEAN.
The difference between other planets is obviously the availability of air and water around the habitable surroundings. How Darwin defines it, is “the life finds a way”. Of course, it did. ICO-TIN has found a way to take the ICOs to the next level and make things secure and beneficial, mutually.
The challenges and how ICO-TIN makes a mutually beneficial platform for people, as well as the ICO introducing teams, both could be analyzed and comprehended in the study explained below.
The challenges in launching an ICO now are as follows:
1) The smart contract has its own limits. It can either reveal the address, on which the cryptocurrency has to be transferred, that is the unique address related to a particular ICO, and once the address gets revealed to everyone or at least a big number of people who are interested in participating in that ICO, they can always get in to make payments.
2) As long as the contract is, more is considered to be efficient, but as many codes it has, the more gas it consumes per transaction. So it's not at all cost effective to make a smart contract long.
3) At that point of time, where an ICO cannot accept more than 14 transactions per second, there comes a situation of AUCTION. In this situation, the set parameters encourage to complete the transaction anyway possible, irrespective of the gas's price.
4) An SPF or single point failure occurs when such a scenario gets created.
5) Compliance is yet another article to be taken care of, where two things are to be covered.
The first is KYC process, which is more complex than others because it has to be integrated with an image upload that makes the system quite exposed and vulnerable to the hack threats and malware.
The second is accounting, which again is a big task to regulate and scrutinize because there are different cryptocurrencies on the exchange and one does not wish to change the mode of payment to any medium he does not use frequently.
6) Strategy making has to be very planned and flawless. It covers three aspects, now these three aspects have been set on the traditional ways of ICOs, these three ways were:
AUCTION – where a set pattern judges, that which transaction has to be prioritized, on the basis of the fact that which transaction has been backed up with a higher price for GAS
BOUNTY – the bounty has normally been given to the participants or nonparticipants for introducing more people to the program or ICO. This bounty has been the number of tokens quite often.
GAS – gas has been a very significant factor when it comes to an ICO launch because there are so many transactions due and even a transaction of a very small amount gets completed after consuming the GAS worth many times of the same amount.
The application and indispensability of ICO-TIN
ICO-TIN is the answer to all those challenges for someone who has been busy developing his technical and crypto related skills and has never been keen enough to be skilled or smart enough to face the challenges of the underworld market.
It's about more of a “professional” approach. Since one gets paid for something, he has to be excellent at it. Anyone could cut his hair, but we prefer a barber because he knows his job better. That explains the indispensability of a professional package that is ICO-TIN.
It is an Enterprise solution for new ICO launches and provides a customized package which includes the ICO launch and marketing as well.
The solutions to the issues have been as follows:
1) The smart contract won't be available to be accessed; the unique address will never be disclosed to any of the participants. There will be parallel and more secure ways to be made, for payments.
2) The easiest way to payments will be, that via any mode of payment, (FIAT currencies and BTC too) one will have to buy USD within the system, and his further purchase will be regulated with those USDs.
3) This complete system will be an “OFF-CHAIN” program, integrated with the system anyway; hence there will be no transactions, no consumption of any GAS during the transactions made by the participants
4) The payments to be made by the system, however, will be regulated according to the periodic cost-effective prices of GAS, and hence that will be a minimum liability system for to and fro transactions.
5) There won't be any auction for transactions and hence GAS consumption won't be an issue anyway.
6) The KYC and accounts will be managed within different ways, with a system which will not be in direct alignment with the ICO, so it will not be a threat to ICO if images uploading will be needed.
7) The accounts will be flawlessly managed by individuals and it could be done more efficiently as well.
To take “the origin of species” to a new level had although been a challenge for the biologists and others associated with it, but they could not let Darwin's work and contribution, go in vain. It has similarly been a work of responsibility to carry the vision to the next generations and to encourage the progressive youth today.
It's not over-ambitious at all if “ICO-TIN” is considered to be the revised version of “Nakamoto's” “the origin of species”. It opens the way to more experiments and probabilities of combining the “two worlds” together.