Home CryptocurrencyAltcoins 10 ICO Successes Built on the Ethereum Network

10 ICO Successes Built on the Ethereum Network

by Pragati Shrivastava
, 10 ICO Successes Built on the Ethereum Network

The Ethereum Network was first launched in July 2015, and since then 1000+ projects have been built on top of it as ERC20, ERC223, or ERC777 tokens. For crypto enthusiasts, the Ethereum Network is a success story, but out of the shadow of scams and dead projects, there have been some ICO success stories as well.

It’s important to note that many projects used the Ethereum Network as little more than an ICO platform to gain liquidity for their tokens before launching independent blockchains. This includes a handful of Ethereum competitors such as EOS, Zilliqa, and RChain.

While there are several drawbacks to the Ethereum Network, it has risen above others in the altcoin race and still considered one of the best platforms for cryptocurrency, due in part from their strong developer community. Whether it retains that status in the years to come remains to be seen.

In the meantime, we’re going to list the top 10 projects that are built on the Ethereum Network who had successful ICOs with proven development. They are listed in alphabetical order.

Bancor

In June 2017, Bancor made ICO history and nearly crashed the Ethereum network in the process. The project raised over $150 million in 3 hours. More than a year later, Bancor has a working product and a strong customer base.

It is a decentralized exchange that allows users to convert between any 2 tokens at an automatically calculated price without counter parties. Rather than connect buyers with sellers, like many other exchanges do, Bancor automated the process, using smart contracts to create liquidity. Because of its affordability, ease-of-use, and in-built liquidity, many new projects are now opting to list their tokens on Bancor with its 24-hour trading volume exceeding $2 million.

BAT

BAT is an Ethereum-based digital advertising platform created by the co-founder of Mozilla & Firefox and the creator of JavaScript. It aims to make digital advertising more efficient by cutting out unscrupulous intermediaries. The company plans to do this by incentivizing participants, such as internet users, content creators/publishers, and advertisers, with a cryptocurrency token.

Their flagship product, the Brave browser, allows readers to earn tokens for viewing advertisements. Content creators and publishers get rewarded when readers spend time on their content, and advertisers increase ROI by targeting audiences that are actually interested in their products.

According to speed tests published on Brave’s website, the browser is 2X faster than Chrome on desktop, and 2-8X faster than Safari/Chrome on mobile devices. Furthermore, Brave provides near-total privacy and is completely ad-free. The Android version of Brave browser has over 10 million downloads.

The Bizz App

The Bizz App claims to be the world’s friendliest messaging app, and it certainly is. With a stellar dev team and a community of highly engaged users, it is a competitor to Facebook’s workspace.

Bizz has its own ERC-20 token and they project that it will be a solid competitor to Libra once they’ve launched their token. The Bizz App is available now at the app store and it is packed with features like:

  • Unlimited open groups
  • Unlimited by invitation-only groups
  • Campaigns, offers, polls
  • Live 4K video streaming
  • 24/7 Streaming radio station

Download the app and experience the power of seamless video calling now.

DigixDAO

One of the main features of Ethereum is that it enables its users to create and run DAOs or Decentralized Autonomous Organizations. It is a completely new way of structuring businesses as there are no bosses or people in charge of the entire company.

Instead, all the decisions are made via proposals and voting. DigixDAO was one of the first major DAOs to be created on the Ethereum platform. Interestingly enough, the project uses two tokens: DGD and DGX. DGD tokens were sold to the investors during the ICO. It is worth noting that when it comes to DAOs, token sales are held not just to attract funds. Purchased coins actually give the investors voting rights in proposals submitted to the DAO. This way, every token holder can take part in shaping the future of the organization.

DigixDAO aims to create a new and stable cryptocurrency, backed by actual bars of gold. This is where the DGX tokens that represent one gram of gold come into play. The gold bars have all gone through a Proof of Asset protocol and their existence is proven on the Ethereum blockchain. DGX tokens can actually be recanted into gold bars and redeemed by every token holder. DigixDAO made history holding the very first Ethereum’s on-chain crowdsale. In March 2016, the project managed to raise its target of $5.5 million in just 12 hours.

PundiX

Pundi X is an exciting project, as it’s leading the way towards making cryptocurrencies usable in everyday life. There are three main services that Pundi X provides its users:

  • Buy and sell cryptocurrencies through a point-of-sale device
  • Use cryptocurrencies to make retail purchases
  • Peer-to-peer transactions

Pundi X can provide these easy-to-use financial services to populations that are under-banked or unbanked. Through strategic ties and collaborations with cryptocurrency exchanges, Pundi X allows customers to pay for products with cryptocurrencies like BTC and ETH while retailers can instantly receive the payment in their local fiat currency.

Though lot of cryptocurrencies that makes it easier to use cryptocurrencies in day-to-day life, the fact that Pundi X is providing these services in places like Indonesia — where over 50% of the 270 million citizens are unbanked — is even better.

QTUM

QTUM, which is actually pronounced “quantum,” is a project the bridges Ethereum’s smart contracts with Bitcoin Core’s stable blockchain, all the while utilizing a proof-of-stake algorithm for verification.

The main goal of the project is to increase the range of applications utilizing smart contracts, especially for business purposes. Thus, QTUM benefits from the best of the new developments from both Bitcoin and Ethereum communities.

QTUM aims to introduce tools, templates and various other smart contracts options to make building and executing smart contracts for businesses easier and more secure. QTUM held its ICO in March 2017 and managed to raise $15.6 million in 117 hours.

Reputation

Prediction markets are already considered the most powerful forecasting tool we have in the human arsenal. The idea is that when you combine game theory and wisdom of the crowd in a single solution, you’ll generally get more accurate predictions than could be expected from even a panel of experts in any given field.

Augur’s REP is an exciting project that is creating the first ever decentralized prediction market. Instead of having a bookie who takes bets, reports on the outcomes of events, and redistributes the funds accordingly, this can now be done in a decentralized manner.

The coin is used to incentivize holders to report honestly about the outcomes of events. When Reputation holders report honestly, they earn more Reputation. When they report dishonestly, they lose their Reputation. People love gambling, and Augur has the chance to provide a superior forecasting platform that blows their centralized competition away. If they can pull it off, it’s all up from here.

SingularityNET

SingularityNET is a decentralized marketplace for artificial intelligence services and provides a “bridge between AI developers and business users.”

SingularityNET also makes it possible for inventors in the AI space to access the tools and data they need to train and perfect their algorithms at an affordable cost. The company chose to focus on three sectors: cybersecurity, cloud robotics, and biomedical investigation.

This is the company that provided the AI software that powered the robot, Sophia, which was built by Hanson Robotics. In October 2017, Sophia became the first robot to be granted citizenship when Saudi Arabia made her a citizen of the nation. Some months later, she became the first non-human to be given a United Nations title.

TrueUSD

TrueUSD is a stablecoin that’s pegged to the USD. Launched in January 2018, TrueUSD was the first transparent and regulatory-compliant stablecoin to hit the market. It addresses two huge problems in the cryptocurrency market:

  • Extreme price volatility that makes cryptocurrencies difficult to use for retail transactions and unappealing to risk-averse retail investors.
  • Lack of transparency and trustworthiness for existing stablecoin solutions, namely USD Tether (USDT).

TrueUSD is an alternative stablecoin option for cryptocurrency traders and investors who want to avoid USDT due to its reputation. It can be redeemed 1-for-1 for USD at any time and is fully collateralized. There are regular attestations of the escrowed balances from registered banks and fiduciaries who hold the funds backing TUSD.

USDC

USDC is the product of a partnership between Circle and Coinbase. The two companies came together and founded CENTRE, which serves as the foundation for USDC and aims to bring stablecoins into the mainstream.

The stablecoin is built on CENTRE’s open-source framework and is fully collateralized by USD held in bank accounts and subject to regular public reporting of reserves. USDC is still relatively new to the market, having been launched by Coinbase on October 23, 2018. That makes its current market cap of over $130 million all the more impressive and really shows the huge role of Coinbase in the greater cryptocurrency market.





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