1. ICO is actually the instry term of
blockchain. It is the abbreviation of initial coin offering. It is the concept of initial public offering (IPO) derived from the stock market. It is the first time that blockchain projects issue tokens to raise
bitcoin, Ethereum and other common digital currencies.
2. Bitcoin is a kind of virtual
digital currency proposed by Nakamoto in 2009. It is characterized by no centralized issuing institution and a fixed total of 21 million pieces. It is not a one-time issue and needs to be proced by miners. Due to the decentralized structure, trust needs to rely on cryptography and consensus mechanism technology to achieve
blockchain is a general technology derived from bitcoin. It implements a decentralized database model. Bitcoin can be called blockchain 1.0 because it has no concept of smart contract. The key technologies of blockchain include cryptography encryption and decryption and consensus mechanism. Blockchain is generally used to combine with specific business logic, which needs to rely on smart contract, which provides an execution mode free from human interference
the IPO of ICO originates from the concept of initial public offering (IPO) in the stock market. It is the behavior of blockchain project to issue token for the first time, raise bitcoin and solve Ethereum and other common digital currencies.
3. ICO (abbreviated as initial coin offering) is the concept of initial public offering (IPO) derived from the stock market. It is the behavior of blockchain project to issue token for the first time and raise bitcoin, Ethereum and other general digital currencies
brief introction to ICO:
ICO is a blockchain instry term, which is a common way to raise funds for cryptocurrency / blockchain projects. Early participants can get the cryptocurrency generated initially as a return
because the token has market value, it can be converted into legal currency to support the development cost of the project. The tokens issued by ICO can be based on different blockchains. The common issue is based on Eth and BTS blockchain, which provides bookkeeping service and value consensus to realize global issue and circulation
ICO participants are very important for the success of a project. They will publicize the blockchain project in the community, so that the tokens generated by it can obtain liquidity before the transaction starts. However, the most important value of ICO participants is still the potential benefits brought by the project development or the price appreciation after the token issue
extended information:
domestic prohibition:
at 3:00 p.m. on September 4, 2017, the people's Bank of China led seven ministries and commissions, including the Information Office of the people's Bank of China, the Ministry of instry and information technology, the State Administration for Instry and commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission, to issue the announcement on preventing the financing risk of token issuance (hereinafter referred to as the announcement)
the announcement points out that token issuance financing is essentially an unauthorized illegal public financing behavior, which requires that all kinds of token issuance financing activities should be stopped immediately from the date of the announcement, and at the same time, organizations and indivials who have completed token issuance financing should make arrangements such as refund
4. ICO is a blockchain instry term, which is a common way to raise funds for cryptocurrency / blockchain projects. Early participants can get the cryptocurrency generated initially as a return. Because the token [3] has market value, it can be converted into legal currency to support the development cost of the project. The tokens issued by ICO can be based on different blockchains. The common issue is based on Eth and BTS blockchain, which provides bookkeeping service and value consensus to realize global issue and circulation.
5. Bitcoin
virtual currency was invented by Nakamoto (alias) in 2009
the underlying technology of blockchain bitcoin is actually that it supports the stability of bitcoin in the past eight years. You can understand it as a subversive accounting method or database, and the core is decentralization
ICO, which is essentially blockchain crowdfunding. If an enterprise does ICO, you can understand it as IPO, But the financing is not money, but virtual currency, such as 3000 bitcoins. Of course, you can choose to sell it in any country in exchange for the legal tender of a country
6. It is a new form of distributed artificial intelligence. 21, which goes beyond the traditional and conventional information verification paradigm that needs to rely on the center. We can query the history of each bitcoin transaction: a spends 80000 to B, so that all data changes or transaction items are recorded on a cloud system. Now suppose that Party A and Party B each have one million yuan in their custody. So. B turns 50000 to a, which records the user's ownership of bitcoin and the records and examples of all users' transactions of bitcoin. 3, and these data are shared by all bitcoin nodes, through the data block, three people of C, and add 80000 yuan in the name of B. Bitcoin's "account book" is called data blockchain, which replaces the current dependence of the Internet on the central server with data blocks and subtracts 50000 yuan from the name of B. the essence of data blockchain technology is decentralized and embedded in distributed data storage. If Party A spends 50000 yuan to Party B, Party C will add 50000 yuan to the account book, and all the funds of Party A and Party B will be kept by Party C. 4. The function of data blockchain is similar to that of C's account book. In addition, each capital transaction should be recorded by C, which theoretically realizes the self proof of data in data transmission: A, C is in the account book record, and C is in the account book record, which reces the establishment cost of global "credit". This kind of point-to-point verification will proce a "basic agreement". All the data blockchains on the network constitute the distributed network database system of bitcoin, subtracting 50000 yuan under the name of institute a, and adding 50000 yuan and 50000 yuan under the name of institute B. If a bitcoin transaction is confirmed by the data blockchain, the relevant information will be recorded in the data blockchain, and the method of transmission and proof will establish a new interface and sharing interface for human brain intelligence and machine intelligence, minus the 80000 yuan in the name of institute a, recording the transaction record data on the whole bitcoin network Data blockchain is an important concept in bitcoin financial system. It's just that this "book of accounts" is made up of the
mining records of every bitcoin miner on the Internet
7. Blockchain is technology, bitcoin is digital currency or electronic currency based on blockchain technology, and blockchain technology is the basic technology of all digital currencies. The two are complementary. ICO is the first time to issue currency, which is similar to IPO in stocks
8. The coin circle is about the issuance, trading, speculation and all related activities of digital currency (virtual currency), as well as the indivial users or institutions involved. The common digital currencies are bitcoin, Leyte coin, etc. here bitcoin is the most heard by people, and many people participate in the trading of bitcoin at ordinary times. Bitcoin was proposed by Nakamoto in 2008. The total number of bitcoin is only 21 million, and its issuance does not depend on any organization. With the continuous mining of bitcoin, it will be more difficult to generate bitcoin in the future, and the cost of acquiring bitcoin may be higher than the price of bitcoin itself
the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press
9. In short, the current ICO is based on the currency issued by Ethereum, as long as a smart contract is established on it, and financing needs to publicize your contract address, so that others can automatically exchange your currency when they call eth. Finally, it is said that domestic ICO is prohibited
10. < UL >
ICO has two important meanings
ICO is the icon file format of windows. Icon files can store icon files of single pattern, multi size and multi color board. An icon is actually a collection of images in different formats, and also contains a certain transparent area
ICO (abbreviated as initial coin offering) is an IPO concept originated from the stock market. It is a behavior of blockchain project to issue token for the first time, raise bitcoin, solve Ethereum and other common digital currencies
