Why are ICOs only in ETH?

[semaforo]

I can't figure out why the recent EOS ICO is in ether- the tokens have 0 functionality, how would anyone ever makr money with these? Do they even confer an ownership or decision making stake? If this seems like a newb question can anyone link to something that explains, because it seems like sheer insanity.

[Rhosadah]

ICO is basically a fundraising mechanism that allows a person / investor to receive tokens in exchange for other popular digital currencies such as Ether or Bitcoin. Typically, ICO on the Ethereum network issues an ERC20 compatible token to its users through smart contracts (prohibiting organizations / individuals holding ICO to create more tokens than originally specified in the original contract); This allows developers to take advantage of the security provided by the Ethereum protocol, minus all additional technical overhead and complexity. Without having to worry much about security (a secure initial token contract is of course still a top priority) developers can be very focused on the application layer; Create smoother user experiences to help implement their platform / project.

[dbc23]

I can't figure out why the recent EOS ICO is in ether- the tokens have 0 functionality, how would anyone ever makr money with these? Do they even confer an ownership or decision making stake? If this seems like a newb question can anyone link to something that explains, because it seems like sheer insanity.

Sounds like A CLEAR reason not to invest in it.

First two things I look at for any ICO or long term but is:
1) does it offer any real function/novel use case that isn't already solved
2) do the developers/support team seem too know what they're doing and able to actually realize their goal

MANY projects don't pass the sniff test for these two points, and I move on.

I think ETH had become popular for ICOs because many of the projects were running as tokens on the ETH platform, combined with the common view that ETH is the new BTC and had higher profit potential.

[HaXX0R1337]

I can't figure out why the recent EOS ICO is in ether

They are using the ethereum platform for funding purposes,from what i understand they will be having their own blockchain and if the EOS could deliver what they are promising ,it will be an interesting project because of the scalability and lets wait and see whether they could deliver the product.

[thepo1m]

Because any jack can create a token on Ethereum platform in minutes, you don't need to do anything more than have a good marketing team to sell your ICO. Waves platform too  has this function but don't have the strong community Ethereum has

[slackcryptoz]

The development of a ICO token is quite a easy task on the ethereum platform. The same is highly risky if one tries to make it through the technology behind bitcoin. Also as most of the ethereum based projects were successful it serves as an added advantage.

[stupid_seb]

The development of a ICO token is quite a easy task on the ethereum platform. The same is highly risky if one tries to make it through the technology behind bitcoin. Also as most of the ethereum based projects were successful it serves as an added advantage.

Also because most ICOs sell NOTHING and therefore ask for a currency that will soon be of zero value.

It's a fair move ;-)

[Joel_Jantsen]

I can't figure out why the recent EOS ICO is in ether- the tokens have 0 functionality, how would anyone ever makr money with these? Do they even confer an ownership or decision making stake? If this seems like a newb question can anyone link to something that explains, because it seems like sheer insanity.

Because they can't do jack with the bitcoins code.Whatever idea they have,is released in the form of tokens based on ETH/Waves/Lisk's main chains.Nothing complex here,you can have your coin running in a few minutes.

[Kazkar]

This is a very understandable platform. Everything is simple and accessible.

[Haladay]

I can't figure out why the recent EOS ICO is in ether- the tokens have 0 functionality, how would anyone ever makr money with these? Do they even confer an ownership or decision making stake? If this seems like a newb question can anyone link to something that explains, because it seems like sheer insanity.

No they are not. Look Primbalbase project ico. It was organized and design to allow people join with bitcoin waves and ethereum. The other icos are conservative.

[headachy]

I think Waves have more interesting ICOs, and when Tokenomica arrives it all more legal and trustworthy..

[ivanst776]

I can't figure out why the recent EOS ICO is in ether- the tokens have 0 functionality, how would anyone ever makr money with these? Do they even confer an ownership or decision making stake? If this seems like a newb question can anyone link to something that explains, because it seems like sheer insanity.

Ethereum it's not only a currency but it is also a platform where other coins can be "run" as tokens and this is the "plus" of ethereum.

But there are also other platforms which offer similar service like Waves which there are tokens too, fast transaction and cheap fees.

[CrowdFunder]

I can't comment on EOS but generally the advantage of having a project funded in ETH is that the tokens can be automatically sent to the person who funded the project without any manual intervention.

[AztecGoldHero]

they are not. there ıs some ıco at waves also and lots of ıco comıng on waves platform too. also etherıum clasıc etc wıll have some ıco too. etherıum has a good platform and more people usıng ıt thats the 1 reason they have more ıco

[voltesbit777]

I can't figure out why the recent EOS ICO is in ether- the tokens have 0 functionality, how would anyone ever makr money with these? Do they even confer an ownership or decision making stake? If this seems like a newb question can anyone link to something that explains, because it seems like sheer insanity.

Maybe because most of the ico that connected into eth has a higher rate than other altcoin campaign, or most of it has a good project compare to other altcoin campaign.

[richsoon]

they are not. there ıs some ıco at waves also and lots of ıco comıng on waves platform too. also etherıum clasıc etc wıll have some ıco too. etherıum has a good platform and more people usıng ıt thats the 1 reason they have more ıco

True the icos are increasingly being spread out to different platforms, originally they were done only in bitcoin now you can find some in ethereum and some that even accept ethereum tokens.

[Armstand]

they are not. there ıs some ıco at waves also and lots of ıco comıng on waves platform too. also etherıum clasıc etc wıll have some ıco too. etherıum has a good platform and more people usıng ıt thats the 1 reason they have more ıco

True the icos are increasingly being spread out to different platforms, originally they were done only in bitcoin now you can find some in ethereum and some that even accept ethereum tokens.

There also other ico's i saw with Waves and XCP, But mostly it is eth, i rarely seen now that in other platform , eth were really popular in ico nowadays, some ongoing ico announces to accept btc when at first hand all they accept is eth, maybe tgere are still whales using btc for investing.

[carlisle1]

I think they prefer to use eth since its already been tried and tested by some other new ico ended coins as they proclaim that the ico was successfully done they just tend to use it too, maybe its just trending for the investors but we are not lock with eth we do have waves and xcp so developers also have some options.

[danim1130]

well many of the altcoin is based only in bitcoins. ethereum is now the central of the new altcoins now adays because they know that many of the users use ethereum .

[bitbob82]

they are not. there ıs some ıco at waves also and lots of ıco comıng on waves platform too. also etherıum clasıc etc wıll have some ıco too. etherıum has a good platform and more people usıng ıt thats the 1 reason they have more ıco

yes that i right that there are some icons that are preferring other currency but i think in majority of ICOs are using Etheirium and i am sure that the main reason for that will be that it more convenient to transfer fun directly even automatically the person who funded here.