Ensuring cybersecurity for a new cryptocurrency – ICO

Creating custom cryptocurrency

Project Time:

6 months

Collected funds:

15 mln USD

Industry

Finance

Engagement model

Fixed Price


Combined Shape

Blockchain


Combined Shape

Devops


Stroke 1

Frontend


Stroke 1

JavaScript


Combined Shape

Node.js


Combined Shape

PHP

Project’s Goal

One of our US-based clients decided to create a new cryptocurrency and to conduct the Initial Coin Offering (ICO) process to facilitate business transactions.

The Challenge

The main challenge of ICO projects is to ensure cybersecurity. We were dealing with a cryptocurrency project for the financial sector and such projects are particularly vulnerable to cyber-attacks.

An additional challenge (apart from technological details related to the design and generation of a new cryptocurrency) turned out to be the surrounding legal regulations and the creation of an appropriate capital collection process.

The Solution

We created a Smart Contract for the new cryptocurrency. To carry out the Initial Coin Offering, we built a custom tool to control the process of collecting payments from investors. It was an application that allows you to buy currency using Ethereum and Bitcoin, integrated with external service for FIAT payments.

Main Features

We based the new cryptocurrency on Ethereum and created a Smart Contract compliant with ERC20 standards, which was successfully audited by a third party.

In order to implement the ICO, 4soft developers had to create an additional application module that was intended to support the process of cryptocurrency allocation after the successful placement of the Smart Contract in the Ethereum blockchain.
After importing addresses of the wallets as well as the number of tokens purchased by a given investor, the client confirmed each transfer using MetaMask, allowing us to avoid storing private keys in the application itself.

Our Strengths

New fundraising opportunities

You can reach a whole new group of people to support your case.

Wide range of potential token use cases

You can sell utility tokens, that give owners certain privileges within the system.

Marketing Value

This type of crowdfunding helps to build an innovative image of your brand.

If you need to estimate a project or have any questions, get in touch with us.

Szymon Head od Sales & Delivery Manager

Blog posts

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3 Traps That Can Sink Your ICO – and How to Avoid Them

1 min

In the first quarter of 2018, ICOs have already raised almost 7 billion dollars [Coinschedule.com]. The pie is big, and what’s even more important, it is booming – in half a year we will raise more funds in ICOs than in the whole of 2017.

Wed/May/2018
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Airdrop in the ICO Process

1 min

We usually share our knowledge on tech details of Initial Coin Offerings and blockchain development. But preparing the tech side of ICO is one thing – you have to align it with the marketing of your new coin. Here’s what they mean by airdropping.

Tue/Oct/2018
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8 Interesting ICOs and Blockchain Appliances – Including Cats, Dating and Marketing

1 min

Blockchain is a technology that can benefit a vast variety of industries. We’ve chosen 8 interesting solutions for you which might inspire you to create your own project.

Tue/Jul/2018
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