What is an ICO in Cryptocurrency?
Asking this question is as strange as asking what is the importance of dollar or stock exchange in our economic system. Yes, this is strange, ICO is the central point of the crypto economic system and is famous enough to be known by even 10-year-old child. Initial coin offering works within the cryptosystem and includes the business of cryptocurrency in the investment and other transactions. Crypto coin ICO is the basic need of any Blockchain project these days for fundraising and other similar purposes. We will here provide the basic information related to ICO and will provide the important stats relevant to it.
The first ICO was launched in either 2013 or 2009. You may ask how this is possible that first was launched in two years. If we consider Bitcoin as the ICO then it was launched in the year 2009. If you don’t consider it was launched as the ICO than first come to screen in the year 2013.
Since its start, we are seeing an increase in number as well as the rate of success. In the year 2018 alone some 1000 ICOS is launched and the success rate was highest in all these years.
We at this point can only hope for the better future of this economic model as it provides a great opportunity to investors and companies to raise the funds in an easy way.