Distributed database that is used to maintain a continuously growing list of records, called blocks
An open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements
Blockchain community tries to improve the ICO process to avoid technical and other issues happening, like recent Bancor ICO.
Matthew Di Ferrante, coder from London, created few rules for safe and convenient ICO process.
- The money raised be released all at once to the development team.
- Give investors the ability to set personal caps on valuation.
- Change of ICO during and the week before is absolutelly forbitten.
- Token resale by the investors is forbitten for 3 months after the ICO.
I just published “Towards Responsible Token Sales (ICOs)” https://t.co/ROmG4LRuR4
— Matthew Di Ferrante (@matthewdif) June 27, 2017
Matthew asked community's opinion on these rules and Vitalik Buterin, creator of Ethereum, replied to him.
— Vitalik Buterin (@VitalikButerin) June 28, 2017
Buterin liked the idea but also added:
- Token resale ban isn't good because it can lead to the "wrapped contracts";
- Market-driven killswitch is better than democraty-actived killswitch. To prevent malicious "draining" of the developers funds, he proposes the mechanism where tokens bought back for X$ were resold for the same price.