The Synthestech ICO has been underway for a while now.
Check their website here
The launch of a new cryptocurrency is often accompanied by one of two things. It will either be offering a project, service or product or, alternatively, it is used to raise funds for a business in the same way as a crowdsourcing or crowd funding option. In the case of Synthestech, it is certainly the latter that is at play although you do still want to learn more about everything before you go ahead and think about investing in the project.
What is Synthestech?
The new project is a start-up company that is based in Switzerland that deals with the process of the synthesis of precious metals. They will basically transform a type of chemical element into another type of chemical element. To some, this does sound as if it is very close to alchemy but that is actually closer to the truth than you would care to imagine.
They do this by using a process known as cold transmutation and they are going to focus primarily on precious metals. The problem is that there is limited information on the processes that they are going to actually use as this is a closely guarded secret. Also, they do claim that the way in which they can produce gold or platinum from using cheaper materials is relatively new and yet there is also a general lack of information available that would explain the way in which they are able to achieve their aims.
The Technical Aspect.
It is important to look at the technical side of things, but as Synthestech is only looking at raising funds and using a digital currency to do so, then there is nothing that complex about what they are offering.
Users will log onto their account and purchase coins either during the ICO or in the actual public sale. The company then plans on using the money that is raised from the ICO to then put it into furthering their technology and being able to push forward with their business plans.
Each purchase, or investment, is confirmed on the blockchain with the platform being decentralized and secure. There is also less need for it to be scaled as such due to the way in which it is merely being used for investment purposes. Clearly, it will also reduce the chances of some error on the platform.
The Financial Aspect and ICO.
For the ICO, they are looking at accepting ETH, BTC and also Fiat currencies. Also, the exchange rate for the ICO has been set at 1 STT for $1. There is a soft and hard cap in place as well with the soft cap being placed at $1,000,000 and the hard cap has been set at $14,000,000. This is not out of the ball park when it comes to caps, the hardcap is actually lower than many other ICOs which is obviously an advantage.
They are looking at launching a total of 14,250,000 tokens with 79% of the tokens being made available during the ICO itself. This is slightly higher than the majority of ICO options that are out there but, once again, it is the other potential problems that should be of a greater concern. Also, do remember that this is to raise funds, so overall the 79% figure is easier to understand.
Overall Conclusion About Synthestech and the ICO.
So, what can we conclude about Synthestech and the opportunity that they are looking at offering individuals? The project seems to be unique from any other cryptocurrency. The team behind the project also seems to be strong.
From a technical point of view there is nothing to worry about as the transactions when it comes to the investment runs along familiar lines to anybody that has used blockchain technology before.
So, should you invest in this project? So far they’ve received good reviews, have a strong team and a unique project so it does look promising.
My post on steemit: https://steemit.com/crypto/@dan90/synthestech-ico-review
Check out more details on their website