Blockchain is no longer only bitcoin related in the mainstream eyes. There are many other coins that get much exposure like Litecoin, Neo or Ripple. But what makes a coin stick out like bitcoin? For sure the technology behind it has to be good enough because it is mostly opensource, everyone can see how it works. That is one of the advantages of the power of Blockchain!
Another big part of the succes of a coin is the community behind it. Bitcoin for example has the first mover advantage, everyone knows about the succes of bitcoin and when people say crypto, the mostly think of bitcoin. Google Bitcoin and see how many hits it gets, 259 Million hits! There are many forums, websites and even games around bitcoin.
But how can you achieve a community in a short time these days when the internet is overwhelmed with new blockchain ideas? You have to be thinking out of the box, some luck and the idea has to fill in a gap that hasn't been covered yet.
I have been in crypto for over a year now and have taken part in a couple of ico's (Initial Coin Offering) i believe in. This means at least reading the white paper, investigate the team and the community behind it. Then, when you are sure you want to invest in a ico, you have to whitelist yourself to at least have a chance to be part of the ico. This is a part where you can be creative. The first ico's i joined, i just had to give my payment address to be whitelisted. Then came a time limit when you had to fill in a KYC (Know Your Customer) form that has to be approved in advance to make sure you could join the ico. But because the mainstream is slowly getting into crypto, many people couldn't get into a ico because they were to late. This is a problem for many coins.
Quarkchain does it differently. The have set up a point system to make sure you are whitelisted. Here is how it works:
- Firstly, join a community, telegram that is. They have multiple channels. The early joiners can get 20 points for this.
- Do a quiz with questions about the project. This can get you 50 points.
- Contribute to the projects. This can be an article like this one or a video. This can get you 20 points.
When you have at least 60 points, you can join the lottery! If you win in this lottery, you are whitelisted and you can join their ico!
How awesome is this! I admit, it's quite a hassle but with this form of selecting people that can contribute to their project, you make sure there is a community that knows why they join the project and you as an investor are motivated to join the project by contributing to it in whichever form you like.
I think QuarkChain already proves to be thinking out of the box and with this process they already prove to be caring for their investors. They don't want a couple of whales to be buying most of the company shares just to make money, they want their project to be carried by the people. One of the biggest factors a project could achieve to make it a succes, in my opinion.
I didn't mention anything about this project by itself, but for this alone i believe in this project. I think many projects will take over this methode, and they should! The internet is already filling fast with many great articles about the project and i hope that you, after reading this article, are curious about this project. If you are, please read any of the following links!
Read their whitepaper! It explains everything in detail:
https://quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.4.pdf
Read a detailed ICO review by Crushcrypto or from Hacked.com:
https://crushcrypto.com/quarkchain-ico-review/
https://hacked.com/ico-analysis-quarkchain/
More info regarding their KYC process:
https://steemit.com/quarkchain/@quarkchain/kyc-explanation
Or just visit the website:
https://quarkchain.io/