Lynchpin (LYN) Token

An ICO (Initial Coin Offering) is a sales vehicle for tokens. The ICO is implemented in order to raise the necessary funds needed for the creation of a blockchain-based project.

All ICOs begin with an idea. A start-up comes up with an idea for a blockchain related project and needs to find a way to fund it. The start-up could go to the bank or to a VC and raise the capital, but it’s better to find financing without losing a percentage of the company. This is where an ICO becomes a viable proposition to getting something made and making a concept, real. It’s important to note that it is NOT an IPO. An IPO (Initial Public Offering) gives anyone the opportunity to own a stake of the company they’re giving money to. An ICO is an opportunity that your in-business currency (cryptocurrency) that buyers will pay to make happen will increase in worth later and make money from their investment.

All ICOs have specific functions to solve issues for the community or cryptocurrency. To identify a good ICO, you need to know the real root of the problems especially in cryptocurrency.

Projects with clear directions and descriptions of the things they want to do is a good sign. Apart from that, look for the utility and liquidity proposotions. As long as the project seems viable and logical in business sense, it might be a good project to have your monies in. Read the company’s whitepaper to know more about the whole project.

Cryptocurrency is a digital or virtual currency designed to function as a medium of exchange. It is created and stored electronically in the blockchain using strong cryptography. It verifies the transfer of funds and operates independently of banks or any central governing body.

Blockchain is a public record of transactions. As a continuously growing list of transactions, it is also distributed, and completely open, so instead of one person controlling everything, there are thousands of computers around the world connected to a network, and these thousands of computers together come to an agreement on which transactions are valid. Each block within the blockchain is an entry containing specific identity information unique to the transaction. Within this digital stamp there is a timestamp too, and something called cryptographic hash: a record of the previous block and transaction data.

A white paper is a prospectus to explain the main points of a project and its investment opportunity. The content of a white paper provides useful information for business people seeking to understand an issue, solve a problem, or make a decision. The format of a white paper is somewhere between a technical manual and a glossy brochure.

Tokens are a subset of cryptocurrencies that reside on their own blockchains and represent an asset or utility. They are digital assets that are sold to the public during an ICO campaign usually for other popular cryptocurrencies; such as BTC (Bitcoin) or ETH (Ethereum family of coins), or sometimes directly as fiat currency, which is a government-approved legal tender. Once an ICO campaign is complete, the token developers can release the tokens on an exchange, where they can be traded and can fluctuate in value, like any other cryptocurrency or currency.

A cryptocurrency exchange/crypto exchange/digital currency exchange is a medium that allows customers to trade cryptocurrencies for other assets, such as conventional fiat money, or different cryptocurrencies.

Cryptocurrency is losing its followers and investors’ trust due to the lack of avenues to liquidate or utilize. A lot of cryptocurrencies play on hype and when the hype dies down, the prices drops. This affects the industry. There is also no intrinsic value in cryptocurrencies.

By having partners like GoBuyBid, it will create real value as token holders are able to purchase items online through its e-commerce platform.

We also have RMP Games. Gaming industry is a huge market. Gamers use tokens or credits to purchase items for their games. In this instance, Lyn Tokens are utilized. This will create “traffic” for Lynchpin.

Last but not least, we have LynPay Solutions that will create a platform for utility. With LynPay Solutions, token holders will be able to pay using Lyn Tokens at all our participating merchants worldwide. On top of all these, we have a FIXED supply of 5 million to combat against inflation.

The tokenomics in place will create intrinsic value which is critical for the survival and re-birth of cryptocurrency.

It still goes back to blockchain. However, we are ERC-20 token standard. ERC-20 is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens.ERC stands for Ethereum Request for Comment and 20 is the number that was assigned to this request.

They are contracts whose terms, agreements and conditions between two parties are written in code, which is hosted in a decentralized blockchain system, without the need of an intermediary. Thanks to smart contracts, transactions are traceable, transparent and irreversible.

You will need “wallets” to store the tokens. Ether “Wallets” have addresses containing 40 – 42 alphanumeric characters. However, DO NOT use an incompatible wallet. Please check to make sure your wallet is compatible with ERC-20 network tokens before sending any tokens to another wallet address. Always use exchangers or wallets that are credible.

A cryptocurrency exchange/crypto exchange/digital currency exchange is a medium that allows customers to trade cryptocurrencies for other assets, such as conventional fiat money, or different cryptocurrencies.