# kaal:claim:3067615-004

**Claim.** Because Ethereum's decentralized platform incorporating smart contracts lets developers build applications directly on its blockchain, the majority of developers chose to write smart contracts on the Ethereum Virtual Machine rather than create their own blockchain technology, giving ICOs a uniform protocol.

**Type.** mechanism  **Support.** evidenced

**Holds when.**

- ICO market through 2017

**Source quote.**

> Given these advantages, the majority of developers opted for writing smart contracts on the Ethereum Virtual Machine rather than creating their own blockchain

**From.** Wulf A. Kaal, Marco Dell'Erba, *Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags* (2017), I. Introduction, page 5

**Cite as.** Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

**Verify.** sha256 of source PDF `164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Dell%27Erba%20-%202017%20-%20Initial%20Coin%20Offerings%20Emerging%20Practices%2C%20Risk%20Factors%2C%20and%20Red%20Flags.pdf

**Topics.** smart-contracts, open-source-and-code

**Keywords.** ethereum, smart-contracts, protocol-standardization, developer-adoption

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.