Tokens and ICOs

Tokens have been an explosive development in the Ethereum ecosystem. It is likely that they will become a very important component of all smart contract platforms like Ethereum.

Nevertheless, the importance and future impact of these standards should not be confused with an endorsement of current token offerings. As in any early-stage technology, the first wave of products and companies will almost all fail, and some will fail spectacularly. Many of the tokens on offer in Ethereum today are barely disguised scams, pyramid schemes, and money grabs.

The trick is to separate the long-term vision and impact of this technology, which is likely to be huge, from the short-term bubble of token ICOs, which are rife with fraud. Token standards and the platform will survive the current token mania, and then they will likely change the world.