A More Detailed Defination and View On ICO

Date

May 16, 24

Reading Time

29 minutes

Category

Chatbots, AI and Machine Learning

Author

Relinns

Relinns Careers Website

In an ICO, What happens generally is: a company offers coins or tokens for specific purchase by the public. These coins serve as a custom currency that has a specific purpose, i.e the utility of the coins is defined up front with a contract with the offering company. In general, the company configures the offering so that if it is successful, the value of the coin will increase or give coin holders a reward for their transaction.

The main process of offering an ICO is that any company that wants to offer coins need to sign up a contract. Then next is to advertise, get listed with upcoming ICO's and hope the fundings which generally:

- Raise a lot of money.
- Does not affect your business long-term prospects.

Many of the ICO's have to be carefully used while cryptocurrency exchange to avoid classification of their token as a security. Enigma and Filecoin used different approaches for investment and for claiming tokens in cryptocurrencies.

Enigma is selling their tokens to anyone and anywhere in the world, without any kind of restriction and claims that their token is same as a purchase of their software. Filecoin, on the other hand, has taken an approach that looks a lot like Venture Capital investment. They generally require/wants various investors to avoid security rules.

Neither Enigma Nor Filecoin has been tested in court and existing laws generally don't contemplate cryptocurrencies for better exchange and earnings.

 

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