The cryptocurrency space is currently going through a process of recovery, after a year-long bearish market and an infamous "crypto winter" that has knocked the prices of countless coins down by over 80%. With a situation like that, 2018 was believed to be the year that ended the creation of new tokens, at least those which would be sold through ICO models.
While other models, such as STOs and IEOs emerged as a replacement, the ongoing price recovery shows that ICOs are truly extinct. There were already multiple successful token sales, in the previous few months, while others are currently on-going. Of course, there are also token sales scheduled for the future.
One project that already held its ICO is Dora Network, which is quite an interesting one.
Dora Network is a high-performance public blockchain which is dedicated to high-concurrency dApp execution. The project aims to improve performance by addressing three different aspects - Vertical Expansion, Horizontal Expansion, and DVBC consensus.
Vertical expansion explores the parallelism between contracts, but also within them. The goal is to execute smart contracts to their maximum, while the TPS are improved. When it comes to the horizontal expansion, it means that Dora Network supports multi-chain technology, as well as cross-chain transactions. Finally, DVBC (Delegate Verifiable BFT Consensus), brings a hierarchical design, in order to balance security and performance. It is based on BFT, DPoS, and VRF.
Furthermore, it does this with no transaction fees, and is fully compatible with EVM, with a goal of enabling fast migration of dApps. Dora Network also allows cross-chain transactions and uses a multi-chain approach to bring unlimited expansion, and millions of TPS, making it a crucial solution for the future of scalability.
As mentioned, Dora Network has already had its ICO, which was held from February 1st until March 31st of this year. Its coin, DNT, could be obtained in exchange for Ethereum (ETH) coins. 1 ETH was enough to purchase 7,000 DNT. The coin's price, therefore, was at around $0.03, with the total supply of the token being at 1 billion units, all of which were available for sale.
The project, based in Hong Kong, required the buyers to go through a KYC procedure, as an only requirement. The token itself was developed on Ethereum's network, which makes it an ERC-20 token.
While the token sale may have ended, investors looking to purchase this coin are advised to carefully study it first. Purchasing any token or coin blindly is never a good idea, and it can often lead to losing funds in a scam. While Dora Network, and its DNT token, appear to be an entirely legitimate project — that is certainly not true for all offered cryptocurrencies out there.
In addition, investors can read Dora Network's white paper and decide whether or not this is a coin they wish to deal with in the future. While the project holds big potential for the future of the crypto space, it is always best for each individual investor to do their research and make an educated decision before buying.
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