have you hear the word “ICO”?
you may instantly have an image in your mind of a man with a gun in his hand, asking you for upfront money in exchange for some ether. Or you might imagine someone with a suitcase and money in his pocket asking you for some ether to purchase some hot air. No, the term “ICO” should not have any preconceived images. The term “ICO” simply stands for “ICO or investment program“. Now, let’s discuss what a “ICO” is and how it works.
If you have heard about ethically encoded intelligence on the distributed infrastructure of the Internet, then you have probably heard about Ethical Autobiography Machine. This is where the smarts of an individual are encoded onto the distributed autonomous machine, or DAO, which is an open-source smart contract platform. In this case, we are talking about the use of an “ICO” to fund projects using ether as the collateral.
execute a series of instructions given by the programmer
There are several projects currently being funded using ethane. One such project is Tendermint, which is currently in development. Tendermint is a software platform that will allow anyone to create custom contract templates that can be used in securities and financial instruments. A smart contract, in general terms, is a program that performs a function when given a specific set of instructions. A smart contract in this sense can be compared to an automated software program, or a computer program that can execute a series of instructions given by the programmer.
Another use of ethane in the distributed ledger environment is through the smart contracts built on top of ethereal’s blockchains. These smart contracts are essentially applications written in Solidity programming language for the Ethereum platform. This is similar to a Java or PHP program written in these languages. The main difference however, is that smart contracts will be run directly on the ethereal network without needing to be downloaded or installed on users’ computers. As a result, these programs are called “dApps.”
who wants to get started building on the ethereal platform?
If you’re interested in learning more about ethereal and its new dApps, I invite you to follow the course “ICO2K Guide to Getting Started With the Enterprise Development Program of etherchain.” This is a comprehensive guide developed by Vitalik Buterin and Emin Gun Sirek with Vitalik Bakirca as the principle author. I highly recommend this resource to anyone who wants to get started building on the ethereal platform.