Ever since the introduction of bitcoin more than a decade ago, we have seen the expansion of the cryptocurrency ecosystem, with over 2,000 cryptocurrencies in existence today and growing daily. In the race towards cryptocurrency and blockchain dominance, came the emergence of a fundraising method for crypto-founders to finance their companies, known as the initial coin offering (ICO). An ICO is a method whereby new projects sell their underlying crypto tokens/coins in exchange for fiat currencies or cryptocurrencies of immediate and liquid value such as bitcoin and/or ether.
Originally published by In-House Community.
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