Re: [ANN][ICO][OIO] ONLINE - Together we can change the internet 🔴|🔴
How come you decided to issue your own token,couldnt all this be done with ETH?
Probably for better control of funds which arw incoming or outgoing...
Most likely because you will be able to stake OIO and eran ICE that way, plus most likely because of PoET also.
What is ICE and PoET?
Proof-of-elapsed time is a relatively new concept. Coins are distributed based on the proof that the user was doing some specific action for a rather long period of real time. Proof of time algorithm was invented by Intel and it is mainly associated with their hardware platform that provides very fast consensus model. It generates random numbers (wait time) on miners nodes and then chooses the node with the lowest number. So,it works like a lottery but with more complex algorithm designed to provide more optimizations. Intel promises that this algorithm cannot be broken by external actions and provides honest consensus model.
Any other successful projects that use proof of elapsed time?
This is the first time I heard about this concept, so as far as I know there are no other projects using this concept,Not sure is that good or just means that this concept is no good so that's why other projects don't bother implementing it?
They did write that it is a relatively new concept and that could be one of the reasons why its use is not widespread.
Isn't that a bit risky? Using a concept that has not been tested and proven to be effective?
Well, ICOs are, imho, always taking risk that could flop, but it's always like that in the bussines world, some things might look like a risk, but if they take off then everything makes sense and we call them genius.
Someone always has to go first
Lets hope it's a good idea 