What is an ICO?
If you can get you way around the digital currency world and blockchain technology, then grasping the initial concept behind the ICO should not be a hard task. The Initial Coin Offering (ICO) is a capital generating idea in which a crypto entrepreneur offers his pledge of coins to the public to raise capital from them to kickstart the actual currency form.
This is a form of crowdfunding that gave birth to cryptos like Ethereum. Its equivalent is the IPO in the business world, the only difference being that in ICO, you do not own the currency but take risks to get interests as the end. Launching an ICO is as easy as writing a document detailing the currency to start up and its fulfillments often known as the white paper and creating a website to help in raising the capital.
Well, we have seen tons of ICO’s come and go in the past, others living up to their promises others landing short, but the future still holds a lot much more of such virtual currencies. With the global pandemic playing out its course, some of these ICO’s had their launches stalled but they put a lot of good ideas forward that are worth recognizing.
Robonomics, one such ICO whose launch date is yet to be announced describes the protocol that is designed to integrate intelligent robots into the human economy. Robonomics (XRT) was idealized to birth a decentralized network for the maintenance of smart cities and industries using the Ethereum platform. It is a provider-controlled currency that will run on the Ethereum Virtual Machine using data that is input with the users. The ICO that was developed by Airlab Robonomics provides different scenarios in which it can be implemented that include engineers and roboteers, smart city and industry developers, and launching robots using Ethereum smart contracts among many other uses. The ICO which may be a game-changer in the ever-rising space of artificial intelligence and robotics might see its capital investment rise high enough to roll out its coins.