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What is a token sale (ICO)?
_{21 jun 2016}

ICOs (Initial Coin Offerings) have become a popular way to fund cryptocurrency projects. An ICO is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for money today. ICOs provide a way for cryptocurrency project creators to raise money for their operations. Most ICOs raise money in Bitcoin or other cryptocurrencies. The ICO usually takes place before the project is completed, and helps fund the expenses undertaken by the founding team until launch. For some of the larger projects, part of the ICO money goes into a foundation that provides ongoing support to the project. They also work as an initial distribution model for the cryptocurrency tokens, especially those with a proof of stake consensus algorithm.