InoCoin is an Ethereum blockchain platform based on these network protocols. The development team of this system has pointed out that this token should not be considered an ICO, but this project is more considered a platform similar to Kickstarter. The INO token is used in this network as an ERC20 token for voting system as Like or Boost.
Crowdfunding is one way to raise cash to start a project. More than $ 17 billion a year is invested similarly in various projects in the United States.
Various networks work as crowdfunding, including Kickstarter or Indiegogo. Both systems base on capital increase and crowdfunding.
Of course, not every crowdfunding can guarantee that a project will succeed. The Kickstarter network receives only a 5% commission for the crowdfunding of each project.
There is always a risk of losing the original capital in any crowdfunding. According to its latest report, Kickstarter reports that more than 64% of projects are successful. Some research has also shown that, in theory, the probability of failure in the Kickstarter system is only 10%.
Of course, if you want to make an initial token or ICO offering, the failure rate will be higher. This rate for the ICO is around 50%. INO, on the other hand, was set up to increase the success rate of the ICO to bring investment success rates closer to Kickstarter values.
InoCoin
Metin Ismetow launched the INO project from March to July 2018. Kickstarter launched more than 429,000 projects in October 2018. Of course, InoCoin also has competitors, such as Ethereum, EOS, TRON, and NEO. On the other hand, the STO platform, which runs on a Polymath network, is another competitor to INO.
InoCoin price history
InoCoin supplies with more than 1 billion INO tokens. The highest price of INO digital currency occurred on February 23, 2019, at $ 0.9027. Although developers launched the project in March 2018, it can still be considered one of the newest and most innovative blockchain networks based on the ERC20 Ethereum standard.
Instead of launching an ICO, the entire INO development team spent 20 million INO tokens on a charity program in ads on social media to raise initial funding for the cryptocurrency.
INO tokens are not mine-enabled but can be purchased through intermediate networks or third parties.
This token uses as a trading system on the InoCoin platform. Its value also depends on ETH because it builds according to Etherum standards.
INO’s daily trading volume is about $ 1.5 million, done in the Exrates exchange alone.
For INO storage, you can use wallets that accept ERC20 currencies such as Metamask, MyEtherWallet, or Trust Wallet. Ledger or Trezor hardware wallets are also good options for INO storage.
Projects built on InoCoin
Due to the nature of InoCoin, several projects are being developed to support it, including the following:
- Mood map me (March 2018(.
- CoffINO (April 2018(.
- Ino Chat (May 2018) Free public chat system.
- Ino Pay (May 2018) – Free payment methods with mobile.
- WEALTHMAN (May 2018) – Decentralized Capital Management System.
- Ino Pets (May 2018) – A charity association for stewarded pets.
- Photo Ino (May 2018) – Photo technology processes in the blockchain.
- Live Forever (June 2018(.
- The Steem House (July 2018(.
- Postfinance Money Transfer (July 2018) Money transfer.
- Bitcoin Air (July 2018(.
- Pseru (July 2018) – Urgent water and electricity application.
InoCoin price prediction
As we said, Inocoin was launched in 2018, and instead of using ICO, it offered its tokens for advertising on social networks. The digital currency price is $ 6.39 and, according to predictions, could reach a cost of around $ 7.5 by the end of 2021. But let’s take a look at InoCoin price predictions for the next five years
InoCoin price in 2021
InoCoin has had many ups and downs over the past year. The price of this digital currency in the summer of 2020 was something like $ 2.5. With the sudden rise in the price of digital currencies in early 2021, the price rose to $ 6.9. It then returned to the $ 2.8 range in early June and is still growing. It seems that this growing trend will continue and by the end of the year, prices will increase by about 1.2 times.
InoCoin price prediction for 2022
According to many predictions, the trend of INO price growth until 2022 is also increasing. Big companies like Facebook and Amazon predict that the INO will be around $ 8.5 to $ 10 by 2022. However, the increasing use of users of social networks also makes InoCoin more advanced.
InoCoin price prediction for 2023
According to the prediction of the world’s largest companies, InoCoin will see a staggering price increase in 2023. You may ask why. InoCoin is based on ERC20 standards implemented in the Ethereum blockchain and based on smart contracts. For this reason, it is enough to remember how significant and unique the growth of this type of blockchain is in 2023. So we expect the INo to be around $ 17 by early 2023.
InoCoin price until 2025
Following the routine of ERC20 tokens, the INO token could also grow exponentially by 2025. Most virtual projects in the world will probably work with smart contracts and the new generation of digital currency blockchain, so the price of InoCoin will exceed $ 25.
Conclusion
Is investing in InoCoin the right thing to do? Many Kickstarter-funded projects can be successful. InoCoin is also one of the new tokens based on the Ethereum standard, which is suitable for long-term investment. Here are some reasons why you should invest in this currency:
INO is built to Ethereum standards and could soon be an alternative to paying for massive distributed projects. InoCoin has raised its capital as a Kickstarter, so its success rate is higher than the currencies that enter the market with ICO.
Of course, INO fluctuations in 2021 are very high, and the price has doubled and tripled twice, so try to plan for a long-term investment in InoCoin to avoid substantial financial losses.