Generally, tokens for the new cryptocurrency are sold to raise money for technical development before the cryptocurrency is released. Unlike an initial public offering (IPO), acquisition of the tokens does not grant ownership in the company developing the new cryptocurrency. And unlike an IPO, there is little or no government regulation of an ICO. The first ICO was for Mastercoin in 2013. Ethereum raised money with an ICO in 2014. As of May 2017 there were currently around 20 offerings a month, and a new Web browser Brave's ICO generated about 35 millions under 30 seconds. In 2016, a total of $102.5 million was raised in dozens of major ICOs.
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- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
- Venture capitalA form of financing or funding for emerging companies. Investment on early-stage companies in exchange for equity in the companies they invest in.
- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.
- StartupA startup company is an entrepreneurial venture in the initial stage of its operations. Startups are typically young businesses aiming to grow quickly and meet a marketplace need by developing or offering an innovative product, process or service.
- BitcoinBitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
- UrbitUrbit is a stack that allows for a decentralized filesystem address space created by startup Tlon.
- Basic Attention TokenBasic Attention Token (BAT) claims to improve the efficiency of digital advertising by creating a new unit of exchange between publishers, advertisers and users.
- EtherEther (ETH) is the cryptocurrency used on the Ethereum blockchain that can be used to operate smart contracts.
- FilecoinFilecoin is a blockchain based storage and cryptocurrency created by Protocol Labs.
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