IOCoin I/O is another of the latest cryptocurrency based companies that is claiming to make major changes in the industry. They’re making claims of handling very sensitive pieces of information like legal documents. It’s a very bold step to state that you can be trusted with documents like wills, trusts, intellectual property also like deeds and bills of sale.
Storing private information on the web is vital and IO Digital is also developing software that will protect your identity. This could be in relation to data on private and public aspects. But will they be able to handle the needs of people who spend a majority of their time online? Many new companies make promises, and as to whether of not they can deliver takes time to see.
What is IOCOIN I/O Coins?
They offer services that operate on a decentralized network with a PGP like RSA Key Exchange System through an Alias and DNS System. It also allows for encryption when messaging on an AES 256 based platform. Unlike other software in this network it works in 4mb blocks IOC Tx capacity of as much as 4mb each.
The IOC is designed to fuel the DAPPS so that all APIs are fully customized with the lowest fees possible. And they work on a POS system as well that goes through a private channel of operation. IO digital also promises massive rewards for users that is paid out daily. This is a major red flag, there is no way to guarantee a rate of how much you’ll make on a daily rate.
How Does IOCoin Work?
The company is promising to build apps that work on top of the IO coin. And it’s also backed by the previous president of IBM Mexico. He was also the president of finance at TomTom. And there is a ton of the coin in circulation in works right now with a major market cap of $72,804,463. The cryptocurrency is looking like a good investment for anyone in this industry on the surface.
There may be a problem however. It’s looking like the company may not be as reliable as once thought. In fact, it may not even have a Linux Wallet, so it will need obscure coding that is difficult to work with. It will be completely unattractive to anyone who uses Linux wallets. And even though wallets on Linux tend to have errors when running, they’re still a very popular way to store cryptocurrency.
It’s too bad because it’s going to deter many people who are looking to make money with cryptocurrency and also like Linux. The operating system does a much better job of protecting privacy then that of normal Windows.
Luckily, most users understand the importance of storing cryptocurrencies on a cold storage drive or personal wallet, rather than an exchange. At least not for a very long period of time. And that’s true especially if they want to be able to use the currency and spend it.
The wallet created by IO doesn’t connect to any nodes as of now. And the team is promising they can fix it, but there is no proof of any attempts to do so as of today. And in reality, issues like this are very challenging. If the team does figure out a way to correct the situation, then it dictates a lot about what they can accomplish. It could turn the company into a very attractive cryptocurrency company that will make innovations in the near future.
Who’s Behind IOCoin?
The team is fully transparent as far as the website goes. You can go on the company website and check out the different contributing members like Alexander Noordeloos and Nadal Antonioni. They all have held major roles in the tech industry in countries like Mexico. The fact that you can go to the company website and see who is working on the project is a major plus. And especially since one of the members is a former president for IBM out of Mexico.
The founder, Joel Bosh even puts himself on the company page. It’s an important aspect, if a founder is in hiding, the company is more often than not a scam.
When it comes to Cryptocurrency, full transparency is one of the most important traits of a trustworthy business. It’s not a guarantee of success, but it shows that the people responsible for the company are not afraid to disclose information about who they are.
IOCOIN I/O Coins IOC ICO Conclusion
This may not be the next prove to be the next Bitcoin, it may be another altcoin that comes and goes. But as of now, IO Coin is one of the more promising AltCoins on the market. The simple fact that the team behind the coin discloses information, is a good sign.
There are some other important notes to mention:
For one the IO coin had no premine. It first started as a proof of work coin and soon changed to a proof of stake coin. Other projects had amassed huge development premines. Some of them as much as 50%, with IO coin being much fairer. The company operates in a way that is more realistic than other coins that have a potential to dump their coins, according to some reviews.
And there is still a lot of room for growth when compared to other altcoins. The coin will also be distributed at a very fair level and rate. And, once again – they are transparent. IO Coin has websites where you can see all of the information the entire team developing the system. It’s probably one of the stronger companies on the market in the industry.
If you really want to get involved in the company, it’s going to cost you multiple five figures. It’s a much larger investment than nearly every other company right now, and you could get a huge ROI. But like any new investment, make sure you do your research before you spend a bunch of money.