Building your own Initial Coin Offering
An Initial Coin Offering (ICO) is a method of crowdfunding through cryptocurrencies and blockchain. In general, the ICO provides tokens for investors in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ethereum. ICOs provide a means by which startups can get funding for their projects. This can also help avoid the costs of intermediaries, such as venture capitalists, banks, and stock exchanges.
This recipe focuses on creating an ICO contract in Ethereum.
Getting ready
You need to have a development environment that supports solidity programming and an Ethereum network to deploy and test your code.
If your ICO distributes tokens to the investors in exchange for their investment, then you should have a token contract implemented with a widely accepted standard such as ERC20. Refer to the first three recipes of this chapter to create an ERC20 token.
How to do it…
- Create a crowdsale contract that can be used for the Initial Coin/Token...
