ICO- Initial Coin Offering Project - DomRaider- Decentralized Blockchain Auctions

#7 Post - Introduction To ICO- Initial Coin Offering

Hello,

ICO- Initial Coin Offering project is presented by the DomRaider company. DomRaider ICO is an open source decentralized blockchain dedicated to auctions in real-time. DomRaider blockchain provides auctions in a transparent, reliable, adaptable and interoperable without compromising on speed to the organisations or the participants who are involved in the auction.

What is DomRaider ?

DomRaider is a French startup company started in 2013. DomRaider is specialized in "drop catching". Drop catching also known as domain sniping, is the practice of registering the domain name once the domain registration has expired. Domain snipping is a technique which consists of reserving newly dropped domain names (such as .com and .net etc), after reserving this domain names, DomRaider sells these domains at auctions to the organizations or the participants who are involved in auction.

Key Features of ICO :-

-> There are 27 extensions accredited on international registries (such as .com, .net, .org etc).
-> 1 Million domain names are available every month for back order.
-> 10 Thousand organised auctions are involved.
-> 7 Nationalities are represented.
-> $4 Million are secured in fund raising.

The Limitations of Auctions : -

All the auctions are supported by proprietary architectural software which is closed source and has some limitations they are :-

-> Auctions are not transparent.
-> There is no guarantee of the source and the authentication of bidders and their bidding.
-> Auctions are not open.
-> Each organization or the participant has to manage their own access, there is no universal application.
-> There is no solution for financing, delivery, expertise, etc.
-> Terms of services provided by them are limited

Decentralizing Auctions : -

The auctions are created as a open and decentralized block chain dedicated to real time management of any auction in the world whether its is online or in the sales room. Everyone can buy, sell, promote or put forward their services.

The blockchain must be : -

-> Scalable, reliable, and transparent.
-> Interoperable- i.e, A buyer must be able to take part in all sales.
-> Transaction cost should be zero.
-> Validation of bid must always be less than one second.

The DomainRaider Token : -

Earning Tokens : -

-> Selling assets or products at auction.
-> Getting commission on sales.
-> selling services associated with the blockchain.
-> Participating in the “Domain Spotters” program.

Spending Tokens : -

-> Organizing auctions.
-> Depositing on certified auctions.
-> Winning at auction.

Domain token usage and circulation : -

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