Antshares undergoes ICO to finance blockchain digital assets platform

Antshares undergoes ICO to finance blockchain digital assets platform

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Antshares, a blockchain-based network protocol, is raisin funds via an initial crowd offering (ICO) to finance the development and marketing of a peer-to-peer digital assets platform, the company said on Monday. The ICO only accepts Bitcoins (BTC) and has so far turned very successful as the company has raised more than BTC 5,000 in about three weeks.

The company has partnered with cryptocurrency exchanges – HaoBTC and Digital Assets Coalition Asia, each one of which holds one of three keys to the multi-signature ICO wallet. The ICO was launched on 8 August and will take place until 7 September. During that period, the company intends to issue 20 million Antshares, equal to 20% of the total stocks, as well as up to 4 million Antshares as an early bird reward, or 4% of the total stocks. Investors can quit and withdraw their funds at any time before the launch of Antshares software.

Antshares ICO

The company has dedicated a crypto-token called AntCoin and has fixed the total number of Antshares and AntCoins at 100 million, with the smallest unit of the asset being 1 Antshare. Following is an overview of how AntCoins will be generated:

  • Year One – Block 0 to Block 2,000,000 – 8 AntCoins per block
  • Year Two – Block 2,000,000 to Block 4,000,000 – 7 AntCoins per block
  • Similarly, the generation of AntCoins per block will be reduced by one for each 2,000,000 block intervals over the years until it reaches 1 AntCoin per block in the 22nd year.

The Antshares platform will allow users to collaborate, build and share financial assets on a decentralized network. They can register, deposit, transfer, trade and even make settlement of digital assets over the Antshares network. Antshares refers to its platform as bridging the gap between a cryptocurrency driven financial system and real world assets.

Activities on the Antshares network are registered as e-contracts on the underlying distributed ledger which can be used for maintaining a record of transactions and rights associated with digital assets like equities, claims, securities, financial contracts, credit points, bills and currencies. The platform could be applied in several different areas, including in equity crowdfunding and peer-to-peer (P2P) lending, digital asset exchange, supply-chain financing, and loyalty programs, among others.

A good feature of the platform is that e-contracts need to be signed and verified by both the sender and the recipient. They should comply with the relevant regulatory requirements. Another advantage is that it will accept fiat money, or cryptocurrencies that governments recognize as legal tender.

Antshares is based in China. It represents an open-source blockchain-based decentralized and distributed network protocol. It uses delegated Byzantine Fault Tolerance (dBFT) Consensus Algorithm to secure its blockchain technology. Antshares is currently in Beta testing.

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