PT  - JOURNAL ARTICLE
AU  - Paul P. Momtaz
TI  - Token Sales and Initial Coin Offerings: <em>Introduction</em>
AID  - 10.3905/jai.2019.21.4.007
DP  - 2019 Mar 31
TA  - The Journal of Alternative Investments
PG  - 7--12
VI  - 21
IP  - 4
4099  - https://pm-research.com/content/21/4/7.short
4100  - https://pm-research.com/content/21/4/7.full
AB  - Token sales or initial coin offerings (ICOs) are smart contracts on a blockchain designed to raise external finance by issuing tokens or coins. This introduction provides an overview of this novel financing method. Differences between tokens and coins, types of tokens, and various ICO mechanisms are discussed. The author also describes the evolution of the ICO market and surveys some advantages of ICOs.TOPICS: Currency, volatility measures