The ICO phenomenon and its relationships with ethereum smart contract environment

2018 International Workshop on Blockchain Oriented Software Engineering (IWBOSE) Pub Date : 2018-03-04 DOI:10.1109/IWBOSE.2018.8327568

G. Fenu, Lodovica Marchesi, M. Marchesi, R. Tonelli

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引用次数: 120

Abstract

Initial Coin Offerings (ICO) are public offers of new cryptocurrencies in exchange of existing ones, aimed to finance projects in the blockchain development arena. In the last 8 months of 2017, the total amount gathered by ICOs exceeded 4 billion US$, and overcame the venture capital funnelled toward high tech initiatives in the same period. A high percentage of ICOs is managed through Smart Contracts running on Ethereum blockchain, and in particular to ERC-20 Token Standard Contract. In this work we examine 1387 ICOs, published on December 31, 2017 on icobench.com website, gathering information relevant to the assessment of their quality and software development management, including data on their development teams. We also study, at the same date, the financial data of 450 ICO tokens available on coinmarketcap.com website, among which 355 tokens are managed on Ethereum blochain. We define success criteria for the ICOs, based on the funds actually gathered, and on the behavior of the price of the related tokens, finding the factors that most likely influence the ICO success likeliness.

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ICO现象及其与以太坊智能合约环境的关系

首次代币发行(ICO)是公开发行新的加密货币以换取现有加密货币，旨在为区块链开发领域的项目提供资金。2017年最后8个月，ico筹集的资金总额超过40亿美元，超过了同期流向高科技项目的风险资本。很大比例的ico是通过运行在以太坊区块链上的智能合约来管理的，特别是ERC-20代币标准合约。在这项工作中，我们研究了2017年12月31日在icobench.com网站上发布的1387个ico，收集了与评估其质量和软件开发管理相关的信息，包括其开发团队的数据。同时，我们还研究了coinmarketcap.com网站上450个ICO代币的财务数据，其中355个代币是在以太坊区块链上管理的。我们根据实际募集的资金以及相关代币的价格行为，定义了ICO的成功标准，找到了最有可能影响ICO成功可能性的因素。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

2018 International Workshop on Blockchain Oriented Software Engineering (IWBOSE)

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