I-2017 ibumba ukuba ibe Unyaka we-ICO.I-China isanda kuvimbela ukunikezwa kohlamvu lwemali lokuqala, futhi yayala izinkampani ezenze imizamo enjalo yokuqoqa imali zibuyisele imali eziyitholile.Nakuba amaRandi ayizigidi eziyizinkulungwane ezingu-2.32 akhushulwe nge-ICO - i-$ 2.16 yezigidigidi zalokho ephakanyiswe ku-2017, ngokusho kwe-Cryptocompare - abantu abaningi basazibuza: yini emhlabeni i-ICO, noma kunjalo?

Izihloko ze-ICO ziye zahlaba umxhwele.I-EOS iphakamisa amaRandi ayizigidi ezingu-185 ngezinsuku ezinhlanu.UGolem unyusa u-$8.6 million ngemizuzu.I-Qtum inyusa amaRandi ayizigidi eziyi-15.6.Amagagasi anyusa amaRandi ayizigidi ezi-2 emahoreni angama-24.I-DAO, isikhwama sika-Ethereum sika-Ethereum esihleliwe sokutshala izimali, iphakamisa amaRandi ayizigidi ezingu-120 (umkhankaso omkhulu wokuxhasa abantu abaningi emlandweni ngaleso sikhathi) ngaphambi kokuba i-hack engu-$ 56 million ikhubaze iphrojekthi.

Kafushane 'ngomnikelo wohlamvu lwemali lokuqala', i-ICO iyindlela engalawuleki yokuqongelela izimali futhi ngokuvamile isetshenziswa amabhizinisi asekelwe ku-blockchain.Abasekeli bokuqala bathola amathokheni ngokushintshanisa ama-crypto-currencies, njenge-Bitcoin, i-Ether nabanye.Ukuthengisa kwenziwa kwenzeke yi-Ethereum kanye nezinga layo lethokheni le-ERC20, umthetho olandelwayo oklanyelwe ukwenza kube lula kubathuthukisi ukudala ama-crypto-tokens abo.Ngenkathi amathokheni athengisiwe angaba nokusetshenziswa okuhlukahlukene, amaningi awanawo.Ukuthengiswa kwamathokheni kuvumela abathuthukisi ukuthi baqoqe imali yokuxhasa iphrojekthi kanye nezinhlelo zokusebenza abazakhayo.

Umlobi we-Bitcoin.com u-Jamie Redman ubhale okuthunyelwe kwe-acerbic 2017 ethula i-ICO eqanjiwe ethi "Do Nothing Technologies" (DNT) ICO."[F] uhlushwa isaladi yamagama e-blockchain kanye nezibalo ezihlobene ngokuxekethile," iphepha elimhlophe elihlekisayo likwenza kucace ukuthi "Intengiso ye-DNT ayilona utshalomali noma ithokheni elinanoma yiliphi inani."

Iyanezela: “Inhloso ye-blockchain ethi 'Ungakwenzeli Lutho' kulula ukuyiqonda.Usinika ama-bitcoins kanye ne-ether, futhi siyathembisa ukuthi sizogcwalisa amaphakethe ethu ngomcebo futhi ngeke sikusize ngalutho.”

I-MyEtherWallet, isikhwama semali yamathokheni e-ERC20 avame ukuhlotshaniswa nama-ICO, muva nje iphendule nge-tweet isimangalo sama-ICO: “Awunikezi usekelo kubatshalizimali bakho.Awubavikeli abatshalizimali bakho.Awusizi ukufundisa abatshalizimali bakho. ”Akuwona wonke umuntu ogxeka kakhulu i-craze.

"Ama-ICO ayindlela yemakethe yamahhala yokuqongelela imali yokuqala ngezimali," kusho u-Alexander Norta, uchwepheshe wenkontileka ehlakaniphile."Empeleni kuyindlela yokuxhasa ngezimali engenangqondo, futhi izoholela emisha eminingi ezonciphisa kakhulu indima yamabhange anomgunyathi kanye nohulumeni abakhulu kakhulu.Ama-ICO azovuselela ubungxiwankulu bemakethe yamahhala futhi anciphise lo hulumeni osebenzisa i-crony-capitalism esinawo manje. ”

Ngokusho kukaReuben Bramanathan, Umeluleki Womkhiqizo eCoinbase, amathokheni ngamanye asebenza imisebenzi namalungelo ahlukene.Amanye amathokheni abalulekile ekusebenzeni kwenethiwekhi.Amanye amaphrojekthi angenzeka ngaphandle kwethokheni.Olunye uhlobo lwethokheni alusebenzi ngalutho, njengoba kunjalo kokuthunyelwe kwe-Redman's satirical.

“Ithokheni ingaba nenani lezimpawu,” kusho ummeli ogxile kwezobuchwepheshe, ongowokuzalwa e-Australia osehlala endaweni yase-Bay.“Kungenzeka ube namathokheni athembisa amalungelo afana nezabelo, izabelo noma izintshisekelo enkampanini.Amanye amathokheni angase ethule okuthile okusha nokuhlukile, njengezinhlelo zokusebenza ezisabalalisiwe noma izimiso ezintsha zokushintshana ngezinsiza.”

Amathokheni enethiwekhi ye-Golem, isibonelo, anika amandla ababambiqhaza ukuthi bakhokhele amandla okucubungula ikhompuyutha."Ithokheni elinjalo alibukeki njengesivikelo sendabuko," ngokusho kukaMnu. Bramanathan.“Kubukeka njengephrothokholi entsha noma uhlelo lokusebenza olusabalalisiwe.Lawa maphrojekthi afuna ukusabalalisa amathokheni kubasebenzisi bohlelo lokusebenza futhi afuna ukutshala inethiwekhi ezosetshenziswa ezinhlelweni zokusebenza.UGolem ufuna bobabili abathengi nabathengisi bamandla okusebenza kwekhompyutha bakhe inethiwekhi. ”

Nakuba i-ICO iyigama elivame kakhulu esikhaleni, uMnu. Bramanathan ukholelwa ukuthi ayanele.“Nakuba leli gama livela ngenxa yokuthi kukhona ukuqhathanisa [phakathi kwezindlela ezimbili] zokuthola imali, linikeza umbono ongalungile ngalokho okuthengisiwe ngempela,” usho kanje.“Nakuba i-IPO iyinqubo eqondwa kahle yokuthatha inkampani esidlangalaleni, ukuthengiswa kwamathokheni kuwukudayiswa kwesigaba sokuqala sempahla yedijithali emele inani elingase libe khona.Ihluke kakhulu ngokuya ngethisisi yokutshala imali kanye nesiphakamiso senani kune-IPO.Igama elithi ukudayiswa kwethokheni, ukuthengiswa kwangaphambili noma ukudayiswa kwabantu abaningi linengqondo ngokwengeziwe.”

Ngempela, izinkampani ziye zasuka egameni elithi "ICO" kusukela kamuva ngoba leli gama lingadukisa abathengi futhi lidonse ukunakwa kokulawula okungadingekile.I-Bancor ibambe “Umcimbi Wokwabiwa Kwethokheni.”I-EOS ibize ukuthengiswa kwayo ngokuthi “Umcimbi Wokusabalalisa Amathokheni.”Abanye basebenzise amagama athi 'ithokheni yokuthengisa', 'i-fundraiser', 'iminikelo' nokunye.

Kokubili i-US neSingapore baye basayina ukuthi bazolawula imakethe, kodwa akekho umlawuli othathe isikhundla esisemthethweni kuma-ICO noma ukuthengiswa kwamathokheni.I-China ikumisile ukuthengiswa kwamathokheni, kodwa ochwepheshe phansi babona kusengaphambili ukuthi kuzoqalwa kabusha.I-US Securities and Exchange Commission kanye ne-Financial Conduct Authority e-UK baye baphawula, kodwa akekho osungule isikhundla esiqinile mayelana nendlela umthetho osebenza ngayo kumathokheni.

“Lesi yindawo yokungaqiniseki okuqhubekayo konjiniyela nosomabhizinisi,” kusho uMnu. Bramanathan.“Umthetho wezokuphepha kuzomele uvumelane nezimo.Okwamanje, uma imikhuba emihle ivela, sizobona abathuthukisi, abahwebi nabathengi befunda izifundo ekuthengisweni kwamathokheni okudlule.Silindele futhi ukubona ukuthengiswa kwamathokheni kuthuthela kumodeli ye-KYC noma okungenani imodeli okuhloswe ngayo ukunciphisa inani abantu abangalithenga futhi bakhulise ukusatshalaliswa. "