Bitcoin Forum

Hi everybody
 ???
I'm wondering how big is the etherum network where the bulk of ICOs are rely on it? how all these ICOs would produce their own services withEth contracts?

thanks

in terms of size, do you mean nodes? i believe at present there are about 6000 nodes. between them, they can process a transaction with about 15 confirmations across the network in 8 seconds. the speed will increase and also the number of transactions possible per second up to the thousands.

all ICO's are basically making applications which are known as dApps (decentralized applications). they only rely on the network for transactions. the smart contracts are deployed on the network to complete the transaction but the work is done within the dApps on their websites.

Ethereum is a smart contract platform where anybody can make their decentralized apps. Tokens is also one form of dapps where developers can automate several process through smart contract for example, issue of fixed number of tokens to all that will send ETH to contract address, automatic profit distribution to token holders and many more.

Almost every tokens made on top of ETH network right now are only using smart contract for profit distribution, they have their own different platform/product where they make profit through different operation.

The ethereum network is big and has a large supporting cast.  A lot of ICO's use the ethereum network to create an asset (token) of the company and offers that token as a service or share of the company.  It is pretty simple for a company to make a basic token instead of a coin, which needs a blockchain specialist to create a new network. 

The icos will product their own service through another way, the smartcontract gives an ability for the ico to build its new platform in the decentralized system. If you are understand how martcontract works. that means about to give the utility to the token itself. To make the token will be useful as the more improvement in the smartcontract.