FESS Chain – ICO Detailed Information
| ICO | FESS Chain |
|---|---|
|
Since they originally appeared almost 11 years ago, cryptocurrencies have been promising a change that would make the world a better place for everyone. They offer a number of benefits over traditional finances, including lower transaction fees, decentralization, as well as the ability to reach everyone, whether or not they have access to the bank. |
| Start | September 30, 2019 |
| End | October 10, 2019 |
| Rating | 4.2 |
| Status | |
| KYC | Yes |
| Founded | 2019 |
| Categories | Artificial Intelligence |
| Platform | Ethereum |
| Token | FESS |
| Soft cap | $3 500 000 |
| Hard cap | $8 200 000 |
| Minimum investment | 1 FESS |
| Tokens for sale | 600000000 |
| Accepting | ETH, BTC |
| Whitepaper | Yes |
| Discussion | |
| Countries | India |
| Social |
FESS Chain Overview
ICO description, Technical Details and Documents
FESS Chain Introduces Electronic Settlement System
FESS Chain is an Indian blockchain project that is currently holding a private sale of FESS tokens of the utility type on Exmarkets Launchpad. Should the project obtain proper funding, which by FESS Chain’s merit is $8.2 million, established as a hardcap, the development of the blockchain-based electronic settlement system will be continued.
Company information
FESS Chain is allegedly registered in the jurisdiction of Malta. Project’s parent company claims to have chosen this particular jurisdiction in order to be eligible for operations in the member-countries of the European Union. In the whitepaper, it is stated that FESS Chain has already acquired licenses for providing digital wallet and exchange services from the Maltese financial regulators. However, there is no company registration number indicated on the official website to prove these statements.
The concept of the electronic settlement system
FESS Chain has set itself a goal of finding a solution to the issues of scalability and security that is lingering in the crypto industry. Their secondary task is to incorporate an improved electronic settlement system that should become a bedrock for a completely non-fiat digital economy.
These objectives will be realized by virtue of the Universal Settlement System (USS), built on the foundation of FESS Chain’s proprietary blockchain that has been modeled on Bitcoin and supplemented with artificial intelligence. The project claims to have developed a unique authentication method that makes their blockchain resilient to cyber attacks, while allowing to maintaining the speed of up to 950 tps. With that, FESS Chain hopes to lay the foundation for the dApp development platform and the in-house cryptocurrency exchange.
The FESS Chain team
- Durga Prasad Tripathi. The founder and CEO. After graduating from Indraprastha University with a law degree, Tripathi established a marketing research company called KDK Capital. FESS Chain is his second company, founded in May 2017.
- Praveen Kumar Sahani. The co-founder and COO. Sahani repeats the proFESSional path of Tripathi in every detail, which indicates that they have established cooperation since the university years.
- Shoaib Malik. The Head of Creative Operations. Malik began his proFESSional career in 2012, working as an online marketing manager for a number of Indian companies. In 2017, he founded ItsDigiMark, the brand identity company, which he left a year later to become a part of FESS Chain.
ICO details
The private sale of FESS Chain’s token began on June 6 and will remain live until September 30, when the public part of ICO will commence. There is a live indicator on the project’s website about the fundraising progress. It currently shows that 20% of allocated FESS tokens have been sold at a price of $0.01 per unit. The tokens will be in a conditional lockup for a designated period of time.
FESS Chain accepts only Bitcoin and Ethereum as means of purchasing of FESS, having set the minimum investment threshold at 1 ETH or its equivalent in BTC. Apparently, there are no area restrictions and KYC requirements with regards to buying tokens.
Author: Alex Paulson for Crypto-Rating.com
FESS Chain Milestones
- May 2019. Pre-Private Sale.
- June 2019. Prototype Launch. Whitepaper Launch.
- August 2019. In-house DApps Prototype Launch. Public Sale (Pre- IEO).
- September 2019. In-house Supply. Chain Implementations. Content Sharing. Application Launch.
- October 2019. IEO & Listing
- November 2019. In-house DApps Launch..
- January 2020. Launching of Internal exchange and Testnet.
- March 2020. Testnet bounty with public.
- May 2020. Main Net Launch.
* Crypto Rating accepts no liability for any errors in the FESS Chain ICO information and Rating. For the most up-to-date information please visit the ICO's official website.
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Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 91.2% | 10 | $26 909.29 | -0.86% | 2.64% | $521 762 781 363 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 94.4% | 5 | $1 860.75 | -0.46% | 4.26% | $223 747 212 959 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000420 | 0.02% | 0.05% | $83 257 322 855 |  |
|
| 4 |  BNB |
Binance Coin predictions | 95.6% | 1 | $304.46 | -0.81% | -0.21% | $47 452 043 680 |  |
|
| 5 |  USDC |
USD Coin predictions | 94.4% | 1 | $1.000252 | 0.04% | 0.02% | $28 886 516 964 |  |
|
| 6 |  XRP |
XRP predictions | 76.8% | 37 | $0.504162 | 0.03% | 12.53% | $26 208 072 378 |  |
|
| 7 |  ADA |
Cardano predictions | 90% | 10 | $0.363100 | -3.09% | 1.49% | $12 666 261 005 |  |
|
| 8 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 84.8% | 17 | $0.071627 | 0.22% | 1.85% | $9 998 019 293 |  |
|
| 10 |  MATIC |
Polygon predictions | 81.2% | 35 | $0.892154 | 0.39% | 1.50% | $8 278 715 292 |  |
|
| 11 |  SOL |
Solana predictions | 79.6% | 29 | $20.65 | -0.37% | 7.13% | $8 189 640 134 |  |
|
| 12 |  WTRX |
Wrapped TRON predictions | 81.2% | 37 | $0.074779 | -0.81% | -3.05% | $7 603 269 311 |  |
|
| 13 |  LTC |
Litecoin predictions | 80.4% | 37 | $92.96 | 3.94% | 10.15% | $6 790 470 965 |  |
|
| 14 |  TRX |
TRON predictions | 81.6% | 35 | $0.074543 | -1.38% | -3.19% | $6 725 556 753 |  |
|
| 15 |  DOT |
Polkadot predictions | 90% | 10 | $5.23 | -1.79% | -0.56% | $6 222 851 370 |  |
