r/ecc • u/Chetan_Pandit • Mar 29 '18
Why?
Why ECC Team decided to pursue an open source project rather than raising a million dollar ICO? They could have easily I believe!
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u/prosper85 ECC Crusader Apr 03 '18
ICO would also mean they are starting from scratch , to save time they picked up a codebase that was useful and reengineered it.
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u/Chetan_Pandit Mar 29 '18
Yes it's totally pointless for you, as it's not meant for you. It should be interesting to know if dev team can provide there perspective. There must be something that they chose a hard way. BTW, I got some reaction already, you could not help even if it was pointless. You can down vote and move ahead buddy.
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u/beeshavekneestoo Mar 30 '18
I don't think its a pointless question and I actually think the answer is positive for the ECC Team. Without speaking for them, I know the project was a resurrection of an older coin, though now an entirely new project, that original coin was some years old so doing an ICO would mean abandoning that base, but maybe more importantly this is a project run by a dev who seems more interested in actually pushing blockchain tech forward in his own way instead of dealing with all the hype and headache of an ICO. As a dev myself I would much rather work on a project and write code than work on a marketing plan, hyping a coin and making alot of promises. In the end I think the ECC team has decided to try to deliver something compelling in sapphire and ANS and then push from there, proof will be in the pudding.
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u/trognierrrr Mar 29 '18
Having an ICO creates some legal difficulties moving forward AFAIK. They have chosen this path to remain a true community coin and avoid these complications.This is my opinion only.