ICOs: A Brief History

Despite being one of the most failure-prone ventures, it just can’t be denied that ICOs, or Initial Coin Offerings, have been one of the biggest ventures/happenings in the world of cryptocurrency. This is due to the fact that despite the huge failure rates of these ventures, with more than 70% of these failed in the years 2017-2018, it still managed to raise billions, $7 billion to be exact, in the same year. To be able to have better chances of ICO success, it’s best to be on the lookout for the top rated ico, and these are offered by a lot of these sites. With that said, here is a brief look at the history of the ICO.

ICOs Early Beginnings

The pioneering ICO event was held by Mastercoin in July of 2013, where they raised as much as 3,700 BTC within 12 hours of its announcement. In 2014, the Karmashares Project was conducted by Karmacoin in 2014.

While these three were the most popular, it only started to boom 3 years after, in 2017. At this point, there already were 18 sites that tracked these ICOs in the middle of the year, and in May, one of the fastest-raising ICOs was launched, which was for a new web browser, Brave. For the said site, there were able to raise, in just 30 seconds, $35 million. Another massive-raising of funds occurred with Kik in September of 2017.

ICO Now

Nowadays, the best blockchain platform for ICOs is the Ethereum, which, in 2018 February, has had a market share of 80% already, with tokens being based on the ERC-20 Standard. There have been a couple of scams like phishing and Ponzi schemes in the said network, contributing to about 10% of the total number of ICOs. As a matter of fact, advertisements were banned by Facebook as a result of this.