Study Shows Many ICO Protocols Fail to Match White Paper Promises

On July 19, a group of interdisciplinary researchers from the University of Pennsylvania, with guidance from the esteemed Penn Law professor David Hoffman, published an in-depth study of initial coin offerings (ICOs) that promise innovative concepts like autonomous governance and operate by the belief that ‘code is law’. However, most of the ICOs the group researched failed to match the original contractual promises and the so-called ‘trustless trust’ offered by these projects had...

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