As of October 12, 2017, the capitalization of the cryptocurrency market has reached $162 billion.
The capitalization of the asset market – the cryptographic tokens produced by ICO projects - amounts to $7.8 billion. The appearance of a separate asset market indicates the growing role of ICO projects’ tokens. These digital assets are not only designed to be a means of exchange speculation, but also to have functions significant for business: they provide access to services, allow voting, accumulate a passive income and are used for internal settlements in companies and ecosystems.
Evolution of the blockchain from a distributed accounting system to ICOs.
The blockchain technology is a distributed database that is supported by a number of nodes. There is no single regulatory body in the system. The history of operations and any changes become noticeable to all network members. It is advantageous for businesses to use blockchain for processes in which data transparency and authenticity is important.
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