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Why use Ethereum for ICOs (Ethereum IDO)

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Why use Ethereum for ICOs? According to a report by CryptoGlobe, the Ethereum Fo

Why use Ethereum for ICOs (Ethereum IDO)

Why use Ethereum for ICOs? According to a report by CryptoGlobe, the Ethereum Foundation recently published an article on why ICOs are conducted on the Ethereum platform. The author of the article explains that launching a project on Ethereum requires public fundraising, which is not bound by blockchain technology constraints and incentives. If a project’s token issuer or investor does not have sufficient information to ensure the completion of the project, it will be considered a “valuable product.” Therefore, the Ethereum Foundation aims to encourage people to use the network through this approach.

Ethereum IDO

Ethereum IDO stands for Decentralized Autonomous Organization (DAO), which allows anyone to create a project and manage their own tokens.

To achieve this, the team has chosen a new technology called “eth2” to launch Ethereum nodes, which is related to the previously released ETH2.0 specification on GitHub. This technology called eth2 enables developers to build applications, dApps, or smart contracts based on blockchain networks and easily connect their chains to the public mainnet. These protocols typically use sharding to support communication between blockchains.

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