ICOs suffer several vulnerabilities:An innovator seeking to serve her intended audience could find that a third-party actor can intervene against her ideas; these antagonists may inhibit the innovator, even with personal and malicious intent, regardless of the innovation’s valueDuring the initial stages of an ICO, wealthy technocrats (often referred to as “whales” for their large financial capital) have an unequal advantage; they can usurp the majority coin supply in a single purchase at the opening moment, and thereby manipulate the market priceICOs are generally conducted in escrow, whereby the purchasers must transfer money to one node, typically a website on a single server, and then wait while the issuer verifies the transactions, and eventually distributes the coins. During this time, the funding is centralized, and therefore vulnerableBecause of the highly traceable nature of ICO transactions, it is difficult, if not impossible, to perform ICOs within our human-inherent Right to Barter in Private An ICO innovator may experience unhealthy pushback from an opposing demographic
One weakness of the ICO process is, paradoxically, rooted in a great strength of blockchain technology: its borderless nature. A key power of any blockchain is that any human capable of accessing the technology can activate it, thus anyone can provide yet another verifiable record of the transaction history.
This ability to circumvent man-made barriers is integral to a blockchain’s survival because it prevents malicious actors from creating subjective borders around our records and then using authority to falsify and manipulate. An ICO innovator, therefore, may prefer to use a blockchain platform which transcends man-made barriers to protect their innovation.
This creates a conundrum, however. As a human race, we also find strength and empowerment in subjectively defining our ow...