Rating agencies have been very helpful to assess the financial strength of companies, governments and organizations all around the world. But there has never been something similar to an automated rating agency in the blockchain industry until now.
Tokenguard.io is the first automated rating agency for Ethereum (ETH) and other blockchain networks in the cryptocurrency market. By using a wide set of tools, Tokenguard.io finds bugs in some of the most popular tokens. With this tool, investors would be able to get access to the most accurate information about crypto projects and Initial Coin Offering (ICO) tokens that are being released to the market.
In this article, we will share with you all the details about Tokenguard.io and how this company is becoming a very important tool for cryptocurrency investors.
Cryptocurrency Investing Problems
Over the last few years, we have seen how different blockchain and cryptocurrency projects released their tokens to the market. Between 2016 and 2018, Initial Coin Offerings were the standard. Projects were able to gather large amounts of money from retail investors and users had the chance to invest in potentially profitable projects.
However, we know that the ICO model was not sustainable. Over 90% of the tokens released by ICOs in 2017 ended up dying. That means that most investors lost their funds in projects that were not reliable or that were affected by a large number of bugs.
How many times did we hear of a cryptocurrency project hacked by attackers and millions in digital currencies from investors lost? The lack of clear project assessment and advanced security reports resulted in thousands of investors ending up losing money in digital currencies.
Nowadays, there are fewer ICOs and projects that rely on other types of crowdfunding methods such as Initial Exchange Offerings (IEOs) or Initial Decentralized Offerings (IDOs), among other names. Nonetheless, the main issue about the assessment of these projects remains. So how to save money and eliminate mistakes? This is where Tokenguard.io becomes a key player.
What is Tokenguard.io?
Tokenguard.io works as an automated rating agency that shares valuable information about cryptocurrency tokens, blockchain networks and crypto projects in the market. By using in-house and sophisticated analytical tools, Tokenguard is able to share some of the most important information about cryptocurrency projects and tokens. This is basically a smart contract audit company.
This would be one of the best ways for investors to know which are the projects that could be targeted by hackers. Understanding the vulnerabilities of crypto projects and tokens is something that developers can do manually after hours of checking thousands of code lines. Tokenguard makes the whole process automatic, reducing human error and saving valuable time.
Basically, Tokenguard is making information that was available only to developers to all the investing community. Moreover, by having the services offered by Tokenguard, the cryptocurrency market becomes a more efficient and mature industry.
When investors know that they are investing in a safe and audited project, they are allocating the funds in an efficient way. Instead, if they would not have this information shared by Tokenguard, investors would have to inefficiently allocate their funds to different crypto projects hoping that they do not get hacked or attacked.
In this way, the entire cryptocurrency and blockchain markets become more efficient in the long run. Only those projects with clear investment proposals and without bugs in their code would be able to succeed. Meanwhile, projects that do not have the right code and present bugs would then be discarded by investors.
Tokenguard is then becoming a key participant in the market to make blockchain and crypto investments safer for everyone and not just for experienced developers. Using this platform becomes then a necessary thing to professional investors. They would be able to search for new opportunities in the crypto industry and get as much accurate information as possible before making an investment decision.
In order for Tokenguard.io to offer the current solutions, they have created different tools and solutions that would help investors get the information they are searching for. We are talking about audit reports, token scorings and many other things.
Security Audit Reports
In order for users to have the most complete information about a token or a project, Tokenguard prepares a complete security audit report in just three hours. Start your morning by requesting an audit report and get the results before launch. This would be a very useful solution for those full-time investors that require data at any time of the day before placing their funds in a crypto project.
The report would include all the necessary information that you should have about a specific project. Therefore, you will be able to invest in projects that you consider are safe and viable in the long run.
Simple Token Scoring
Another thing that you will also receive with Tokenguard is simple token scoring. But how does this solution work? Tokenguard prepares a rating for an Initial Coin Offering that you select and they give a rate that ranges between 0 and 10.
A lower score would mean that the project has many flaws and might not be a good idea to invest in it. Higher scores would be linked to projects with better ideas, clear roadmaps and respected team members.
To put it in simple terms, Tokenguard shares with you a summary of an Initial Coin Offering for you not to be worried about investing in a project that could be simply a scam.
A very useful feature of Tokenguard is related to its automatic updates. Rather than having to run new reports on a daily basis at the request of the user, Tokenguard will automatically update the information shared 24/7.
If they find a new vulnerability, security issue or bug, the rating system would be updated and the information will be shared with the user. This makes investing in cryptocurrencies safer in the long run as well. Thus, it is never late to find a bug and inform investors about it.
Finally, the reports and information shared by Tokenguard are clear and simple to understand for non-tech investors. All the security information and data is then shared with users in a clear language in order for investors to understand what happens inside a specific virtual currency.
Moreover, they will get the most relevant information such as whether the bugs are critical or not. Investors will not lose time trying to understand the report, they gain valuable information and time that can be used to better allocate investment funds in digital currencies.