Initial Bounty Offerings
What functions does IBO and ICO perform?
ICO is going to viral this year because of leading qualities of this phenomenon. Miko Matsumura discussed that there are more than 30 ICO were launched per day. This shows progress and popularity among general market value. Due to the increase in popularity of this technology, some challenges stand up to create hurdles and problems. Attention is being played a vital role for telegram channels and for social media, they rush towards capture of attention in crypto enthusiasts. If you would like to read more about ICO visit this article.
After this mega set of problems, it was necessary to launch a new system that named as IBO. Dicryptionary.com is responsible for introducing this process which is based on new and advance functions and it is limited time process in which cryptocurrency is distributed by the investors who invest their skills and having hope to gain new set of rewards and profits. IBO is also made public by the mode of their working phenomenon. IBO receives more mental commitment in contrast with Initial Coin Offerings where the coins includes are sold.
Rise of IBO:
In July 2013, a research report on google concluded that IBO was firstly mentioned by a company which named as U.CASH. In an introduction of U.CASH it is described as:
A platform that is based on blockchain that of financially competitive and a network that is interconnected with digital assets and use the way of their paying of fees through crypto debit card, instant virtual debit card and coin card. Executions of additional functioning and use of smart contract were also there. U.CASH IBOs claims itself as world’s first Initial Bounty Offerings. They dedicate network assets token card to the users that are linked in with IBO. U.CASH defined IBO as;
“Initial Bounty Offerings are business of crowdsource human resources which develops the marketing and acquisition for making blockchain system into the ecosystem. They offer to network token in exchange contribution for ecosystem”.
ICO and IBO both work in similar pattern but there is one difference found in these bounty programme that is the distribution of token equality and timeline offered. Many of the traditional kind of bounty programs are organised on some big kind of platforms that are named as Bitcointalk. They offer to convert the token bounty in the form of ICO which engagers this task to complete it. In ICO’s total token allocation creates a pool to reserve this option formally. If you would like to read more about IBO visit this article.
Profits gain by IBO:
Following are the main profits that gain by IBO in field of cryptocurrency are:
- IBO officials have ability to collect the opportunities of bounties that are provided in the full term of IBO performance.
- It also offers the bounty hunters to provide incentives for the investors that participate in this business.
- The Bounties of IBO and its tasks are going to very simple for the registration and validation of the identity of users.
- It also induces the assignment that are simply based on engagement of programs that linked with social media and translation system of whitepaper.
- In order to make a fairer distribution so this goal may be achieved when tokens are distributed and network growth could increases.
Main Types which Bounties conquered:
Main types of bounties are described here which is offered and introduced by U.CASH. These dependent on the skills which are provided or the resources which they gain:
- A Consumer
- A Builder or Developer
- A Contributor
- A Community
A consumer is a person in IBO who actively completes many bounties for example to activate the account, liking in with Facebook. Adding and sending funds are also responsibilities of consumer. For example, if you have account on U.CASH you will get amount with adding of profit.
A builder or developer completes the bounties like creating mobile applications, desktop applications and requires a particular skill set.
A contributor having responsibilities which participate in many bounties like writing an article of the firm, creating and video and YouTube ads. They also translate the whitepaper into different languages.
A community is just like coindesk, cointelegraph which completes its noble duty by on account of U.CASH.
How IBO works?
IBO seems to be the most advance and attractive programme which going to spread program actively until it shuts down. Investors will receive the money exactly as the IBOs paid it. ICO have organize a set of rules on which percentage of tokens are given to the participants of IBO in the form of reward and profit. This will promote the programme of bounty campaigns towards success. The most important actions that ICO performs and it totally based on IBO working with tokens:
- Official sites make registration of accounts of the projects.
- Specialised Platforms perform comments and advertising signature on their desk.
- Bitcointalk is biggest platform of ICO promotions and it is attended by investors of different countries.
- Social networks also advertise this posts and reports on Twitter, Facebook and YouTube.
- News websites also create and public article on their sites.
- Emergence of booklets and logos also posted.
Is IBO gaming industry?
In various reports it was confirmed that IBO is gaming industry. A project named GameX is also introduced which converts the cryptocurrency tokens into wave’s platform. It further composed of three main projects named as GX Marketplace, GX Indie Club and GX GPU Mining Club. The IBO campaign also called Gaming hunter this programme is characterised by the increasing popularity of GameX. This program will give new light to the users that will depends on trust and transparency of projects. Process of gambling game is initially very difficult phenomena which forms regulatory requirements. If you would like to read more about IBO gaming industry visit this article.
This IBO is really work out with all possible positive points in it!!