ICloudSec Token and ICO Details
What is a ICloudSec
Every successful company relies on a network to deliver high quality services to their clients. Be it internal or external, small or big, the most important part of a network is reliability, security and speed. That’s where ICloudSec comes in. This is the first ever cloud-based network security model using blockchain, that will provide dynamic fault handling, high availability and complete robustness in network automation eco-space.
ICloudSec helps reducing the network deployment risks by providing consistency over multi-layer network configuration. Here’s its 5 most important key features:
- Identity Management: ICloudSec uses a distributed trust model based on blockchain technology. This gives every participant the ability to control their own identity and share that between different trusted entities.
- Access Management: ICloudSec protects your network against unauthorized access and provides a full privacy protection.
- Insider Attack: ICloudSec further protects your network by ensuring there’s no tampering with the transmitted data. Its analytic engine processes events in the right order to protect against any security breach.
- Configuration manipulation management: ICloudSec automatically blocks any malicious flow entries that an attacker tries to insert into the network.
- Constant Monitoring & Verification: ICloudSec continuously monitors network policy changes to prevent the cloud from any security risk or inconsistency.
ICloudSec is the token that will power the actual product, and right now it’s during the first ICO sale phase. Once ICO completes the tokens will be tradeable and available on various exchanges.
Key facts about the ICloudSec ICO
How to contribute to the ICloudSec ICO:
- The easiest way to contribute for the ICloudSec ICO sale is to pay directly with ETH. You can also purchase using other cryptos (i.e. BTC), but you’ll have to email them at the address mentioned on their site: Buy ICloudSec
- Buy ETH via one of the many available exchanges (i.e. Coinbase) and be sure to transfer them to your ERC20 ETH wallet. MyEtherWallet is the perfect choice to get a wallet (if you don’t have it already).
- Decide how much CLOUD tokens you want to purchase (the price is now 13,000,000 CLOUD tokens for 1 ETH) and transfer the amount of ETH you want to invest to their ETH address here: 0x478a46e809Bb0BCf892Bc00BF211d3B55184b743
- Once your ETH transfer is processed, you will receive your CLOUD tokens directly into your ERC20 wallet. To display your custom CLOUD tokens just go into MEW and add a new one using Token Contract Address 0x4e64e18f6e6f5d694725c8c02ec8ace180ade2d0 and Token Symbol: CLOUD
The most important rule is NOT to transfer ETH directly from your exchange wallet. They won’t know where to send back the CLOUD tokens if you do that, just be sure to use your MEW wallet address.
ICloudSec ICO Details:
- ICO Sale Start Date: 26-Feb-2018
- ICO Sale End Date: 25-May-2018
- Hardcap: 13500 ETH (around $13 million, depending on current ETH value)
- Softcap: $1,000,000
- Supported payment methods: They accept ETH payments directly, but you can also pay using BTC, BCH, LTC & XRP by contacting them first to receive the transfer address. Do not transfer money from an exchange address, use a wallet address!
- Current token bonus: 30% discount. The discount drops down depending on how many CLOUD tokens are sold, to the point where close to the hardcap it’s 0.
- Price: 1 ETH = 10,000,000 CLOUD tokens. With the current 30% discount, the price is 1 ETH = 13,000,000 CLOUD tokens.
- Maximum amount of tokens to be generated: 200,000,000,000 CLOUD (including bonus tokens, founder’s tokens and bounties). 80% off these will be sold during the ICO.
- Minimum Contribution: 0.001 ETH
Pricing varies depending on how many tokens were sold, right now here’s the bonus structure:
|Discount %||CLOUD tokens issued during ICO||CLOUD rate per 1 ETH during ICO|
|30%||0 – 10,000,000,000||13,000,000|
|25%||10,000,000,001 – 40,000,000,000||12,500,000|
|20%||40,000,000,001 – 80,000,000,000||12,000,000|
|15%||80,000,000,001 – 120,000,000,000||11,500,000|
|10%||120,000,000,001 – 160,000,000,000||11,000,000|
- 80% of the tokens allocated for the Initial Coin Offering
- 15% CLOUD tokens used for Team Distribution
- 2.5% of the tokens will be distributed to the Advisory Team
- 2.5% of the tokens will be distributed to the Legal Advisory team
The funds distributed to the team will be used as follows:
- 60% for the Core Development
- 15% for Sales & Marketing
- 10% for the Security Audit
- 10% Operation costs
- 5% for Legal purposes
More details about ICloudSec are in its whitepaper:
In total there are 9 people currently involved in the ICloudSec project (7 members and 2 advisers). The team is mostly tech-oriented (software developers) with a strong experience in the dev field, including working with very big IT companies:
- Hitesh Arora – CEO. Graduate of a reputable IT college, 6+ years of software development for important companies (i.e Cisco).
- Rajesh Nayak – Senior Architect. Strong IT engineering background with 13+ experience in the field.
- Supriya Yadubansi – Senior Software Engineer. 3+ years of experience in development, mobile mainly.
- Ashutosh Agrawal – Senior Software Engineer. 5+ years of dev experience for a big company (ZOHO).
- Amit Joshi – Senior System Engineer. 6+ years of experience as a system engineer.
ICloudSec’s whitepaper is one of the most tech-oriented documents I’ve read for an ICO until now. Most other ICOs just focus on general things, but the team behind ICloudSec focuses solely on the technical side of the product they’re creating. This is encouraging as it shows they want to create a great & usable product.
Here’s the key elements from the ICloudSec Roadmap:
- November 2017: ICloudSec concept & Team build-up
- December 2017: Beginning Smart Contract development
- January 2018: Website launch & UI design, smart contract testing.
- February 2018: ICloudSec ICO launch
- March 2018: ICloudSec tool chain development
- April 2018: ONAP source code inclusion
- May 2018: ICloudSec token sale end
- June 2018: Blockchain integration with ICloudSec framework. Listing the token on exchanges.
- August 2018: ICloudSec alpha release.
- TBD: ICloudSec public release
ICloudSec ICO rating from various ICO review sites:
- SANGUS: 74/100
- ICOBench: 4.1/5
- ICOMarks: 7.9/10
The aggregated rating score is 78.4% (out of a total of 100%). Anything over 70% is an excellent rating with very good chances of resulting in a finish product.