RT Journal Article
SR Electronic
T1 Token Sales and Initial Coin Offerings: <em>Introduction</em>
JF The Journal of Alternative Investments
FD Institutional Investor Journals
SP 7
OP 12
DO 10.3905/jai.2019.21.4.007
VO 21
IS 4
A1 Paul P. Momtaz
YR 2019
UL https://pm-research.com/content/21/4/7.abstract
AB 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.TOPICS: Currency, volatility measures