The website of a reliable ICO will feature, at the very least, both a whitepaper and a roadmap. The whitepaper will ideally provide a detailed outline of the project, including technical details, information about the team of developers, the project’s envisioned use of (and need for) blockchain technology, and so forth. The second important element, however, is a realistic, detailed roadmap; this is a timeline, which outlines the different stages of the project’s development, including both short-term and long-term goals. The roadmap demonstrates that the developers have thoroughly researched and planned their project and are planning to see it through to completion; it is a sign of an ICO worth investing in. This article will outline a few things to look out for in a good roadmap.
The accuracy potential of the roadmap
Firstly, it is important to look for accuracy in the roadmap: it should highlight particular plans and milestones in a very concrete sense, outlining all the important future dates in the development of the project. Most importantly, the roadmap should inform potential users of when exactly the project will come to fruition and be available to users. Since blockchain-based technology and ICOs are a relatively new phenomenon, some roadmaps can be vague or inaccurate. It is important that developers are willing to provide investors with as much information as possible.
Secondly, the roadmap must be realistic and feasible; once again, since cryptocurrencies are so new, a potentially inexperienced team of developers may well create an overly ambitious project but be unable to provide a return on the investments solicited. Always look at the feasibility of the roadmap, and go out of your way to investigate the credentials and relevant experience of the developers involved, for example via sites such as LinkedIn. At the same time, so long as a project looks like it has been planned well, an ambitious roadmap is not necessarily a bad sign, particularly if the developers have included a number of long-term solutions the project in question might be used for.
Too much ambition?
Thirdly, the product must be in a sufficiently-developed state for a roadmap to be realistically written for it. While ambitious projects can turn out great, this is not an excuse to provide a vague future plan and sell pipe dreams to investors. A project that is still entirely in the planning phase should not be put forward as part of an ICO. It is not a good sign if the developers appear to rush into things.
Finally, it is also a good sign if the road map contains some information as to the status of the goals set out in it; a dedicated team of developers will go out of their way to provide accurate and timely updates in terms of what’s happening at the time of writing. The most important thing for a roadmap is, after all, that it inspires confidence in you as investor – if it fails to do this, it will likely fail to reach its funding goals, and it is best to steer clear.