What is ICO
What Is ICO– ICO stands for “Initial Coin Offering”. In a nutshell, ICO is a process to raise fund for a specific project in terms of cryptocurrency, such as Ethereum or Bitcoin,Bitcoin Cash, Litecoin in return for its tokens that can be used in its specific services or applications.
And users, in their turn, can either spend digital tokens on the platform or sell them later on exchanges at x3-x100 the price. Tokens are basically like vouchers that you can exchange for goods or services on a certain platform. According to William Mougayar, author of ‘The business blockchain’, a token is “a unit of value that an organization creates to self-govern its business model, and empower its users to interact with its products while facilitating the distribution and sharing of rewards and benefits to all of its stakeholders.”