Ethereum Founder Vitalik Buterin Co-Authors Plan for Interactive ICO Protocol

A new white paper has been published detailing a potentially transformative protocol for initial coin offerings (ICOs). The protocol, which would seek to produce an "equilibrium" between capped and uncapped token sales, represents a collaborative effort between Vitalik Buterin and developer Jason Teutsch, the creator of smart contract scalability project TrueBit. In the white paper released today, the authors detail a system by which an ICO could respond to the actions of buyers. On Medium, Teutsch wrote:

"I hope that the present foray into algorithmic game theory will encourage our community to continue to think explicitly about assumptions and goals for crowdsales as we experiment with and build upon the trustless, cryptoeconomic power of smart contracts."

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