Faculty of Economics and Business Administration Publications Database

Token Sales and Initial Coin Offerings: Introduction

Momtaz, P.
Volume: 21
Number: 4
Pages: 7 - 12
Link External Source: Online Version
Year: 2020

Token sales or initial coin offerings (ICOs) are smart contracts on a blockchain designed to raise external finance by issuing tokens or coins. This introduction provides an overview of this novel financing method. Differences between tokens and coins, types of tokens, and various ICO mechanisms are discussed. The author also describes the evolution of the ICO market and surveys some advantages of ICOs.