Blockchain technology is a data transfer system between two persons without need of a third party. The Initial Coin Offering (ICO) is a digital way of raising funds for a startup companies through the blockchain technology. As the blockchain popularity rises, it has become more important to know how to protect your ICO from hackers.
When an ICO project is announced to the world, it is instinctively telling people that it will collect millions of funds worth of cryptocurrency. That is how you attract hackers the most. If you are starting a blockchain or ICO project, your first concern should be the security.
Despite cryptocurrencies’ high security advantages, there are cases where people can get even through the safest things. In the last months, security in the ICO projects is gaining a lot of attention. But, many people are not aware of the risks and holes that can appear in the ICO world.
For that reason, we are offering some advises for the potential ICO projects and startups about how to protect their ICOs from hackers and damages:
- stick to the programming guides which have great recommendations to avoid failures in the smart contracts;
- listen to your community and take their advises seriously;
- monitor all of your ICO activities and act quickly in case of issue;
- don’t forget to secure your website because it is a platform through which the transactions are performed;
- make a plan of preventing your project and your community from scammers;
- check your code a couple of times;
- pay attention to what is written in the smart contracts, as well as in the terms and conditions;
- create a good-working environment with your team, and make sure that your team understands the project and contributes to its safety;
- always communicate with your users and tell them to only visit your proper site;
- educate your team about cybersecurity risks before the ICO starts;
- provide funding instructions only to those who signed up on your website;
- use different passwords for different accounts;
- always tell your users to ignore scammers and messages from people who are not admins;
- build a strong community.
Security and protection are part of any business in all industries. ICO and blockchain are not an exception. But, with a strong team and good cooperation, you can protect your ICO from hackers and scammers at any time.
A great example of safe and successful ICO is Energy Premier. It’s a blockchain-based electricity trading project that aims to create place where electricity bidding will take only 30 minutes from your time, with a mission to give direct access to the retail energy market to the suppliers, and at the same time to give suitable prices to the consumers.
We believe that Energy Premier ICO is a secure place for you to participate in, because we have a strong team of professionals, advisors, and crypto veterans, such as Tomoaki Sato and Boyan Josic. Together we are working and developing a successful and protected ICO. We already have a live and working product, and you can see that by yourself: https://tokensale.energypremier.com
We also have a bounty program in place to reward people that help us spread the word — check it out here
Join our promising ICO and enjoy all benefits that Energy Premier gives to you!
Thank you for reading.
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Join the pre-sale and crowdsale here: https://tokensale.energypremier.com/