Interactive coin offerings

Ethereum has emerged as a dynamic platform for exchanging cryptocurrency tokens. While token crowdsales cannot simultaneously guarantee buyers both certainty of valuation and certainty of participation, we show that if each token buyer specifies a desired purchase quantity at each valuation then everyone can successfully participate. Our implementation introduces smart contract techniques which recruit outside participants in order to circumvent computational complexity barriers. 1 A crowdsale dilemma This year has witnessed the remarkable rise of token crowdsales. Token incentives enable new community structures by employing novel combinations of currency rewards, software use rights, protocol governance, and traditional equity. Excluding Bitcoin, the total market cap of the token market surged over 60 billion USD in June 20171. Most tokens originate on the Ethereum network, and, at times, the network has struggled to keep up with purchase demands. On several occasions, single crowdsales have consumed the network’s entire bandwidth for consecutive hours. Token distributions can take many forms. Bitcoin, for example, continues to distribute tokens through a competitive, computational process known as mining. In this exposition, we shall concern ourselves exclusively https://coinmarketcap.com/charts/