Are there any instruments that allow to assess transparency of projects basing on some metrics?

10 000 question challengeCategory: Profits (trading, ICO, mining)Are there any instruments that allow to assess transparency of projects basing on some metrics?
HowToToken Team Staff asked 7 months ago
1 Answers
HowToToken Team Staff answered 7 months ago

Even though specific answers from investors were not found, here is a solution of this problem by Neufund project. The aim of the project is to assess transparency of ICOs objectively by marking them as “transparent”, “transparent with issues” or “non-transparent”.

The process of assessment includes answering 14 specific questions about blockchain architecture of the project (see here https://github.com/Neufund/ico-transparency-monitor#decision-matrix). All questions could be answered by “yes” or “no”. Each questions has 2 properties: “critical” and “not applicable”. If a specific question (for example, “Is ICO controlled by a smart contract?”) is answered “false” but has a “true” critical value, the project is directly assessed as “non-transparent”.

The algorithm collects answers to its questions by direct interaction with Ethereum blockchain. Using Web3 The ICO-Monitor (the name of website providing the results of analysis) takes the address of an ICO Smart Contract and scans through the whole blockchain and collects all token generation events logged by the ICO smart contract.

The disadvantage of the project is obvious: it cannot assess projects that do not use the blockchain of Ethereum. Nevertheless, Neufund made a huge first step in process of finding a solution for technical screening of crypto projects.

Source: https://blog.neufund.org/announcing-neufunds-ico-transparency-monitor-an-analytical-toolkit-for-the-crypto-investment-9abfa72fe62e

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