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What is ICO Blockchain?

What is ICO Blockchain?

ICO Blockchain has replaced the traditional fundraising mechanisms and opened doors to easy and quick monetary dealings. Earlier, startups and other established organizations had to look for IPOs to raise capital for establishing or diversifying their firms. With the emergence of cryptocurrency and its notion of decentralization, the mechanism of Blockchain came into existence. Followed by this was the establishment of ICO which is completely built upon this mechanism. One of the very first fundraising events that took place through ICO Blockchain was that of Mastercoin held in July 2013. From then on, the concept has been widely welcomed by cryptocurrency investors all over the world.

Blockchain Technology

The concept of Blockchain was first introduced along with Bitcoin. It can be considered as a digitalized spreadsheet that is available to each and every user. It records every transaction that takes place and stores it in blocks. Blockchain stores the details of every peer to peer transaction and is a digital equivalent of a ledger. Since the whole system is decentralized and there is no particular authority to look over the transactions, the users are responsible for the proper maintenance of records. Several cryptocurrencies and platforms have adopted Blockchain technology, like Bitcoin and Ethereum.

ICO Blockchain

ICO helps organizations raise funds for their needs, with the help of Blockchain technology. In other words, one can say that ICO is conducted on the Blockchain. The ICO coins are given to investors for their participation and do not ensure any ownership. On the other hand, ICO Tokens give the investors their right to ownership of the part of the project. These tokens are given to the investors in return for cryptocurrencies like Bitcoin and Ethereum coin. The project creators have to first submit a white paper consisting of the details of the project they need the funding for. It is up to the investors to decide. As it uses Blockchain, all the information regarding every transaction is easily visible to all the users.

Benefits of ICO Blockchain

The financial data of the ICO is released through Blockchain. Since the mechanism is self-regulatory, the users can easily spot any mishaps or fraud in the transactions. The decision-making process is also decentralized. This gives every investor equal opportunity to pitch in their ideas and opinions. Unlike IPOs where you receive equity or shares in return for your investment, ICO gives the investor only the rights of the project they have invested in. One of the major highlights of ICO is that there is no need to pay taxes for the tokens. This could have been a major burden otherwise. Using ICO Blockchain has brought ample changes in the face of digital currency and modes of investments as a whole. Built into the algorithm framework of bitcoin, Blockchain has been adopted and tweaked to suit the needs of various applications and platforms.