-- Slightly off topic -- I've got a dumb question as someone who only catches bits and pieces of crypto currency stuff by way of HN and twitter. Is an ICO a w

-- Slightly off topic -- I've got a dumb question as someone who only catches bits and pieces of crypto currency stuff by way of HN and twitter. Is an ICO a way to put coins out on the market and skipping all the mining stuff? Does the mining still happen to release new coins or is the amount floated at time of the ICO the total number of coins that will exist for currency? edit: added off topic note.