A white paper has been released detailing the protocol. As per the protocol, the ICO could respond to the action of buyers., released today, the authors detail a system by which an ICO could respond to the actions of buyers.
Ethereum founder Vitalik Buterin and developer Jason Teutsch, the creator of smart contract scalability project TrueBit are together working towards making a protocol which would work to seek a balance between capped and uncapped token sales.
A white paper has been released detailing the protocol. As per the protocol, the ICO could respond to the action of buyers., released today, the authors detail a system by which an ICO could respond to the actions of buyers. In particular, purchasers would present a valuation table by means of a smart contract that would empower them to make purchases in accordance with real-time evaluation.
All the more basically, the new ICO convention would give purchasers the choice to pull back investment offers on tokens, while assessing the purchaser’s stake with respect to the whole ICO and moving bids appropriately.
Along these lines, it tries to tackle the issue of ICO deals offering out too rapidly, or not at all.
On Medium, Teutsch spoke about this gap between the vision of the protocol and the present state, writing:
“I hope that the present foray into algorithmic game theory will encourage our community to continue to think explicitly about assumptions and goals for crowd sales as we experiment with and build upon the trustless, crypto economic power of smart contracts.”
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