Blockchain Utility Tokens For ICOs

Traditionally, ICO tokens have been issued on the Ethereum network in the form of ERC20 tokens. Many organizations require only basic tokens; they adopt the risk of Ethereum’s Turing complete programming language without taking advantage of many of its benefits.

Ethereum has the most expressive programming capabilities. Stellar is the best choice for ICOs that do not require complex smart contracts. Stellar’s primary goal is to facilitate issuing and trading tokens, especially those tied to legal commitments by known organizations, such as claims on real-world assets or fiat currency. First, a simple, easy-to-use built-in token issuance system that is accessible to anyone. Second, Stellar offers built-in token capabilities that can support multi-signature authorizations, generate dividends, limit who can hold tokens, and more. Perhaps most importantly, Stellar features a decentralized exchange where any Stellar network token can be instantly traded without relying on a third party exchange to list the token. This means newly issued tokens can be traded on Day 1. Many other benefits such as lightining network, significantly cheaper and faster etc…

Thats why SureRemit is utilizing Stellar Network rather then ERC20 tokens.

SureRemit RMT token acts as an exchange of monetary value for a specific purpose. It is used as an anchor of any fiat currency exchange. The price of a RMT token can fluctuate and fees remain the same due to the stellar network and cost of 0.00002XLM. So an RMT token could be $1 or $10 due to supply and demand, yet remain the same fee of transfer, the amount of fiat currency transferred is as the customer wants at the retail level, yet the amount of RMT tokens used in the transfer varies.

Written by

I am passionate about Technology, Cloud Computing, Machine Learning and Blockchain

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store