QUEST
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well-designed token networks include an efficient mechanism to incentivize network participants to overcome the bootstrap problem that bedevils traditional network development.
06/02/17
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Here’s how an ICO typically works: A new cryptocurrency is created on a protocol such as Counterparty, Ethereum, or Openledger, and a value is arbitrarily determined by the startup team behind the ICO based on what they think the network is worth at its current stage. Then, via price dynamics determined by market supply and demand, the value is settled on by the network of participants, rather than by a central authority or government.
06/02/17
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Brave, the upstart web browser founded by Mozilla co-founder Brendan Eich, completed an initial coin offering (ICO) today that is likely to be distinguished for its speed and earnings. Overall, the sale for Brave's ethereum-based Basic Attention Token (BAT) generated about $35m and was sold out within blocks, or under 30 seconds.
06/02/17