Initial coin offerings, or ICOs for short, are the latest craze in the cryptocurrency world. Despite being just a couple of years old, ICOs have managed to attract a lot of attention.
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It seems that in the past few months every news outlet had something to say about them, both good and bad. Some praise them for enabling startups to receive funds quickly, but some people despise ICOs because of their unregulated and fraudulent nature. However, one thing is for sure; they have revolutionized how projects receive funding.
While no one can argue that ICOs are flawless, a case can be made that they offer more pros than cons. Sure, ICOs have little, if any, regulatory oversight, and their track record is riddled with thefts, frauds, and failures. However, without them, we wouldn’t have Ethereum, the second biggest cryptocurrency right now, as well as numerous other new-technology startups. Judging ICOs based on the failed projects and without acknowledging their advantages creates a false image. After all, even some traditionally funded projects have turned out to be frauds.