ABSTRACT

Initial coin offerings (ICOs) are an alternative financing source for startups. Based on blockchain technology, they allow entrepreneurs to raise funds digitally, ensuring speed and low costs. ICOs increased significantly in number and size until the first quarter of 2018, and then the market declined. Mismanagement and fraud are suspected to be the cause. In this respect, our paper analyzes the literature on ICO benefits and challenges and provides recommendations for sustainable ICO activity.

中文翻译：

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衰落之后的 ICO：文献综述和可持续发展建议

摘要

首次代币发行（ICO）是初创企业的另一种融资来源。基于区块链技术，它们允许企业家以数字方式筹集资金，确保速度和低成本。直到 2018 年第一季度，ICO 的数量和规模都大幅增加，然后市场出现下滑。怀疑管理不善和欺诈是原因。在这方面，我们的论文分析了有关 ICO 好处和挑战的文献，并为可持续的 ICO 活动提供了建议。