Given the controversial nature of the initial coin offering ecosystem at this point in time, it’s reasonable to state that perhaps making it easier for anybody to launch their own ICO without significant effort is perhaps not in the best interests of the blockchain as a whole. Regulatory bodies around the world are now scrutinizing the initial coin offering ecosystem and attempting to construct frameworks that can be used to curb massive flow of currency that is being directed toward ICOs.
Despite this, a new blockchain platform is intending to streamline the ICO creation process and make it extremely easy for anybody to list their own ICO campaign, create a smart contract, raise funds, or contribute to promising projects.
The BlockStarter platform wants to create a Tokensale Dashboard that makes creating ERC20 tokens and selling them to contributors extremely easy. While this may seem appealing, the Waves platform already delivers this solution- the only point of difference between Waves and BlockStarter appears to be that the BlockStarter platform is specifically focused on the creation of ERC20 tokens.
Does the blockchain ecosystem need yet another platform that removes the barriers to entry that prevent virtually anybody from creating an ICO? How does the BlockStarter platform plan to reduce fraud and abuse? In this article, we’ll take a look at the BlockStarter project and attempt to find the answer to these questions.
What Is BlockStarter?
BlockStarter is a comprehensive tokenization platform that is intended to streamline the ICO creation process, and wants to create a comprehensive ecosystem that manages every step of the ICO life cycle. Users will be able to create a draft of a campaign on a step-by-step basis, with all information saved on Google Docs.
ICO drafts can be shared with team members, which is intended to streamline the drafting process. Once the draft is finished, it is sent to the BlockStarter curation team. According to BlockStarter, this is designed to prevent spam, but does not mention any kind of review process to ensure that the ICO itself is not fraudulent.
Once campaigns are ready for launch, users will be able to launch them on the BlockStarter community. Investors seeking promising ICOs to invest in are able to browse an easy to navigate database of campaigns that can be sorted by a number of criteria, including upcoming, ongoing, and past campaigns that are either launching on BlockStarter or other platforms.
The BlockStarter platform also integrates a dedicated wallet that will be used by ICOs to accept contributions. The BlockStarter wallet supports a diverse range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dash, and Waves.
One of the more interesting applications of the BlockStarter platform is the way it streamlines the smart contract creation process. Users of the BlockStarter platform don’t need to have a working understanding of Solidarity in order to create a secure smart contract and instead are able to create one with a simple form.
BlockStarter also offers bounty functionality, and provides contributors with a wide range of tools that can be used to assist in the development or marketing of a project. The BlockStarter platform will operate on the ZBS token, which can be used within the platform to pay for services, pay for the creation of smart contracts, pay for campaign promotion, pay contributors, pay reward bounties, or pay for advertising an event or conference.
Lastly, BlockStarter also operates a job marketplace that provides skilled individuals with an opportunity to find jobs at blockchain startups, assist with coding, write or review white papers, help with legal aspects, or even write content about projects.
Ironically, the BlockStarter platform itself is launching an ICO in order to generate the funds required to launch. If you’re considering investing in this platform, it’s probably worth asking yourself whether the blockchain ecosystem needs yet another platform that makes it easier to create low-effort initial coin offerings with little to no oversight.