Element Group and Tierion created a blockchain system setting a standard for ICO
Element Group jointly with Tierion created a blockchain system standardizing ICO. Such an announcement appeared on the social journalism source “Medium”.
The development was named “Valence”.
It helps to solve various problems occurring at the pre-ICO stage, including the following:
- a long presale stage resulting in the cost-cutting of the cryptocurrency;
- too many operations performed by people which leads to errors;
- an ill-considered system for exchanging wallet addresses villain can hack;
- no possibility to check accuracy of the currency exchange.
“Valence” provides advanced opportunities for managing ICO. In particular, it uses blockchain to verify and timestamp the deal. It confirms the purchase of a token and if any problems occur – returns money to an owner. Besides, the system automatically adds everyone interested in buying tokens to the digital queue guaranteeing distribution of coins. The information about recipients and keys is confidential and sent only via blockchain systems.
The system will be first launched for ICO of Tierion on July 22.