By
Mayowa Adebajo
March 12th, 2024
IP Gold, an IP-based services ecosystem, has announced its 24-hour event to mark its successful migration from the Ethereum blockchain to NEM.
Digital asset management company, IP Gold, has announced a 24-hour sale kicking off on the 3rd of July, 2018 to mark its successful migration from the Ethereum blockchain to New Economy Movement (NEM). The event will reward contributors with a generous 50% bonus on every contribution as the blockchain platform moves to a streamline and reliable infrastructure for the future of a proven and invaluable IP address ecosystem.
Ethereum blockchain has fallen short of its max potential lately. The myriad of tokens and DApps on the blockchain has placed enormous strain on the Ethereum network, resulting in subpar transaction speed, congestion, high gas fee, and unreliability. As the decentralized industry continues to mature, solution companies looking to establish long-term stability and reliability of their operations have been looking for alternative blockchains to develop their solution. In NEM IP Gold has found the perfect blockchain for its innovative product.
IP Gold will leverage blockchain technology and smart contracts to reduce the cost of overhead and facilitate better management, acquisition, and monetization of digital assets. Blockchain technology will enable the company to coordinate thousands of complex processes globally, while smart contracts will ensure the autonomy of its monetization lifecycle.
Announcing the migration, David Grieshaber, CIO at IP Gold said:
“The proven scalability, support, and security of the NEM blockchain offers the most future-proof platform for the IPG token and IP Gold community. NEM’s peer-to-peer architecture, proof of importance (POI) algorithm, encryption and multisig account support made it the obvious choice for IP Gold’s long-term goals.”
IP Gold will leverage NEM’s blockchain to streamline the management of acquiring digital assets and their value, while reducing overhead. With NEM, IP Gold will be able to deliver industry-leading transaction rates for its ecosystem. Backed by a cutting-edge consensus mechanism, NEM ensures that its public blockchain grows without ever compromising transaction speeds: in other words, scale.
IP addresses are the backbone of the Internet, enabling computing devices to connect and communicate, and supporting vast array of online services. However, with the continual growth of the internet, these IP addresses are becoming a scarce resource and their acquisition and ownership increasingly more valuable.
Unlike most blockchain startups, IP Gold is based on existing business model operated by the founders of the platform. The project expands on the existing idea through the acquisition of more IP addresses and infrastructure to support it.
What’s more, IP Gold has announced a profitability projection of just 45 days after its Token Generation Event. 20% of its gross revenue will be allocated to contributors every quarter of the year. Revenue will be distributed among all token holders.
IP Gold’s 24-hour event starting on Tuesday, July 3, 2018, is the curtain-raiser ahead of its Public Token Event, running through July 11, 2018.