Ever since bitcoin became a big hit, excitement arose concerning decentralized technologies. Humans are starting to see the immense new technologies that the new technologies can deliver. According to the Wall Street Journal, Bitcoin currently has a market capitalization of $40 billion. In the world of cryptocurrency, bitcoin is the most valuable and widely accepted.
The rise of bitcoin has brought about the development of other cryptocurrencies operating on the blockchain platform. One of them is the Ethereum (ETH). Ethereum has had an impressive run in the last two years thanks to a great crowd sale which has seen it gain astronomically. More developers, institutions and multinational organizations have adopted their use.
The attraction to public blockchains such as Ethereum is more socio-technical than technical. The whole space has been disrupted with the spread of tokenized assets which are created on Ethereums incentivized public platforms. The token owners use this asset when interacting within their platform.
The future of crypto
All experts in the cryptocurrency field point out to the huge potential of Etherium solving many problems in today’s industries. The adoption of the technology alone can re-invent new industries altogether. There is an EVM, Ethereum Virtual Machine, which is simply a decentralized computer executing the smart contracts which take place in the public blockchain.
All these contracts run themselves in the manner they were pre-instructed. Unlike other technologies, with the blockchain, there is no vulnerability to censorship or manipulation. This provides a reliable platform in which programmers can adapt to oversee processes such as real estate, finance, e-commerce, legal contracts, and much more.
Ethereum allows users to create their own tokens. The token is valuable and acts as digital assets. Ethereum developers have standardized this process when creating the token standard. The standardized contract has several functions that allow distribution, asset control, and issuance. All this takes place in a standard and formal manner. The token standards allow decentralized Ethereum apps running on the public blockchain to operate with ease.
Sale of ethereum tokens
Most developers today prefer ethereum as their best bet when starting new projects. In the center, we have the ICO which stands for Initial Coin Offerings. An ICO is quite similar to an IPO, except for the securities. ICOs are fundamental for small start-up businesses which seek to raise money. Investors may receive tokens in exchange for other digital currencies such as Bitcoin or Ether. ERC20-compatible tokens are issued to ICOs running on the ethereum network. This platform bars individuals or organizations from taking advantage of the ICO and making more tokens than is required in the original contract.
The formats that enable an individual or organization c\old ICO crowd sales keep evolving. Nevertheless, it is expected that a uniform standard methodology acceptable by all will be arrived at. This will ensure tokens are distributed to the maximum.