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Monday, March 13, 2017

ICO, Explained

ICO, Explained

1. What is an ICO?

An ICO is a recently emerged concept of crowdfunding projects in the cryptocurrency and Blockchain industries.

ICO stands for Initial Coin Offering. It’s an event, sometimes referred to as ‘crowdsale’, when a company releases its own cryptocurrency with a purpose of funding. It usually releases a certain number of crypto-tokens and then sells those tokens to its intended audience, most commonly in exchange for Bitcoins, but it can be fiat money as well.

As a result, the company gets the capital to fund the product development and the audience members get their crypto tokens’ shares. Plus, they have complete ownership of these shares.

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