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When you talk of cryptocurrency and Crowdfunding, the first concept that comes to mind is the Initial Coin Offering, the ICO. The ICO has become a renowned concept today. We shall concentrate on alternate ways of Crowdfunding in Crypto Space.

The IDO – Initial DICE Offering

DICE is going to be the future of cryptocurrency. The most significant advantage of DICE is that it has the qualities of Fiat Currency as well as Cryptocurrency. DICE does not need a wallet for storage. It works outside the Blockchain technology and hence provides an easy way of raising funds in crypto space.


In comparison to the traditional methods of fundraising, IPO in Fiat currency, and the ICO in cryptocurrency, the IDO is incredibly cost-effective. The expenses associated with an IDO are minuscule. The only costs you incur are the cost of the operator’s server equipment and supporting software programs.


A new operator enters the DICE Economy through the IDO. On becoming a new operator, the business does not have any DICE at all. It has to encourage users to start mining and generate value. Every new excavated DICE unit that enters the economy adds to the valuation of the operator. By paying in DICE to the operator, the miner can acquire equity in the business.

 

Ways of funding and investment in the DICE Economy

Crowdmining – The miner raises funds by mining DICE associated with a specific operator in the cluster. The system is such that it incentivises both the miner as well as the operator. The miner owns the DICE units he produces. He is then in a position to trade them for physical goods, services, digital content, other currencies, and other DICE units.

Scraping – Crowdmining involves the existence of two external parameters, global complexity and local complexity. The global complexity is the difficulty of mining a unit with value 1 DICE. As on date, the global complexity is 40. Therefore the global minimum is equal to 30. The operator defines the local complexity as a figure spread over a small range over the global minimum. The critical element in the scraping process is the difference between the local complexity and the global minimum. The operators will not be able to validate the DICE with complexity level between the local complexity and the global minimum. The miner thus does not get the value for such units. However, they add to the value of the operator. It is known as the scraping of DICE tokens.

Investment mining – The scraped DICE contains the signature of the miner. Hence, the operator is aware of how much DICE has been raised through scraping from each miner. This scraped DICE becomes an investment by the miner into the operator thus acting as an incentive for the miner to associate with the operator.

Donation mining –Here the miner does the mining on behalf of the operator. All the mined units go to the credit of the operator. There is no incentive for the miner in this type of funding. Usually, the charitable organizations and NGOs do this kind of mining.

Valuation Collateral – The process of DICE mining leaves a unidirectional digital signature block called ‘prototype’ in possession of the operator for each mined unit. They are not tradeable, but they are proof of work done for the specific operator. These prototypes have an inherent residual value up to 50% of the actual value of the original unit. The operator can use these prototypes as collateral in credit deals. In the worst case scenario, the creditor can assume complete control over the validation thus acquiring a stake in the business up to the total value.

Acquisitions and Discontinuation – Once mined, it is impossible to modify the DICE units. It will hold the operator’s signature forever. In case of acquisition by another operator, there is an acquisition of the entire prototype database. Hence, the new operator will have to emulate the old operator in deals concerning existing units. There are options for disabling further mining for the former operator.

 

We have thus seen some alternate ways of Crowdfunding in crypto space. DICE is going to revolutionize the entire crypto space in the times to come. 

 

To find out more, visit https://dice.money/

You can read the white paper at https://dice.money/docs/Dice_Money_Whitepaper.pdf


Media Contact:
Name:  Dilip Chandar
Email:  contact@dice.money
Website: www.dice.money
Telegram: https://t.me/DICEMoney

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