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But isn't there some link between ICO and traditional cryptocurrencies? I thought the transactions are somehow logged to e.g. ethereum blockchain?

• dfox 9y ago
  Most tokens are implemented by ethereum contracts, because it is the simplest way to implement such thing, but they don't have to be.
  • beefield 9y ago
    Here is where I go confused. New tokens are supposed to be completely independent from ethereum economically, but at the same time they are somehow ethereum contracts. Would that not mean that someone needs at some point own ethereum and take the market risk?
    • wmf 9y ago
      Yes, to transact tokens that run on top of Ethereum you have to pay transaction fees in ETH, which AFAIK means you need to buy at least a small amount of ETH. There are some recent proposals that would allow fees to be paid in other tokens, so I guess if those go through then you could use tokens without ever touching ETH.