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With the advent of cryptocurrency as a strongly secured mode of asset and transaction procedure, there has been a reduction of scams and fraud. This form of virtual currency is used in <strong>Initial Coin Offering</strong> (ICO) which is a mean of raising capital for new ventures and startups. Investors prefer using ICO for capital investment to startups and acquire these in exchange for legal currency or other forms of cryptocurrency. ICO is necessary for startups; usually, the new ventures use blockchain marketing for better transactional facilities. These companies are also known as a <strong>decentralized autonomous organization</strong> (DAO) and are primarily funded through crowdfunding. These startups use the blockchain technology for data management as well as modification of data.