Decentralized Autonomous Initial Coin Offering (DAICO), its loophole and Implementation

Too Long; Didn't Read

The innovation of Initial Coin Offering was first introduced by <a href="https://www.ethereum.org/">Ethereum</a>. Ethereum came into the blockchain scene to serve as a better implementation of proof of work which was introduced by bitcoin some ten years ago. Through Ethereum, smart contracts can be built to collect funds from investors who agree to the terms as included in the smart contract. Smart contracts are binding agreements between parties which are enforced without third parties, just programming. Smart contracts were built to allow investors reclaim their funds if an ICO was a failure. But through unscrupulous fellows, over times the weaknesses of an ICO through smart contracts became&nbsp;known.