If you want to ask a question of what does ICO stand for? The answer is not quite clear initially. Different companies, organizations, and communities think with a different meaning for it.
What Does ICO Stand For?
Basically, ICO abbreviation comes on the current topic. Also, it is important the popularity of this abbreviation word use case. For an instant, on the cryptocurrency community ICO mean initial coin offering on the other hand somewhere ICO mean International Coil Group on of the famous technology organization.
However, here I am going to focus on ICO base on Initial Coin Offering. Here ICO stands for initial coin offering. A step-by-step guide and explanation will be here so that you can get a clear sense of what dose ICO stand for? Moreover, you can read an article about what is an ICO?
What is An Initial Coin Offering? OR ICO’s
Today is the top trend in the cryptocurrency sphere ICO might be the right thing to start. ICO is a project where any company or organization offers tokens to collect money for upcoming blockchain-based projects.
It is a quick process to raise funds for any future lunching project. In a word presale coin of crypto.
Our article is about ICO presale, past and upcoming Rico’s concept. Moreover, you can get an overview of the ICO use case by the definition and what does ICO stands for.
Since 2013 generally ICO is used to raise funds to develop any blockchain project and cryptocurrency projects.
After creating a new token with smart contact and distribute the token among the contributor. After that, they can exchange it to get profits.
Background of ICO
It is not a hundred percent sure, but possibly Ripple was the first cryptocurrency-provided ICO. In the past 2013 the main owner of XRP, Ripple Labs develop this crypto coin XRP as a payment system. They offer 100 billion XRP tokens to raise funds to develop this crypto coin.
The token is exchanged with Bitcoin and the amount of XRP token sold and receive more than $1million.
In the same way, there are several projects to receive funding with the initial coin offering project. Most of the ICO projects, completing with Ethereum smart contract project. 2017 was the best time to receive money from the ICO investor.
There are a number of ICO projects complete with successes and failures. For example, below are the shortlist of successful initial coin offerings on the Ethereum platform. What does ICO stand for
- Ethereum: This crypto token sale ended in 2014 with $16,000,000. Every token was selling at $0.31.
- Lisk: List ICO raise 6,500,000 USD moreover, it was a successful initial coin offering.
- Augur: It was a USA-based ICO project and raise $5,000,000 and ICO ended in17 August 2015.
- Melonport: 15 Feb 2017 with $2,900.000 ICO fund moreover, it was another success.
- Golem: Global supercomputer Golem raised funds of $800,000 through the initial coin offering.
- ICONOMI: They raise funds at a single token price of $0.10. Total ICO fundraises $10,000,000.
- Singular DTV: It was an Ethereum base token. They raise $7,500,00 funding for their projects.
- First Blood: Blockchain base eSports platform. However, they got $5,500,000.
- Digix DAO: The DGD token sell was $4.2 also fundraise $5,500,00.
As Per Article Top 20 Popular ICO Stand For
1. ICO – International Coal Group, Inc. – Organizations, Technology
2. ICO – Intelligence Community Officer- Military
3. ICO – Information Commissioners Office – Business, Protection
4. ICO – Institute de Crédito Official – Spain, Business, Para, Banking
5. ICO – Intermediate Circular Orbit – Technology, Telecom, Telecommunications
6. ICO – Illinois College of Optometry – Education, Science, Medical