Encryption projects should return to the original intention of decentralization and high risk, high return.

In the rapid development of the cryptocurrency industry, ICOs once played an important role, but were gradually replaced by venture capital-supported projects. However, this shift has also brought some problems. Over-reliance on centralized trading platforms and venture capital-supported high valuation projects has become a shackle for the industry's development.

The reason why cryptocurrency has become one of the fastest-growing networks in human history can be attributed to three main factors: Decentralization combats the high concentration of wealth and power, blockchain is a groundbreaking technology, and cryptocurrency provides ordinary users with the opportunity to accumulate wealth. However, in recent years, changes in the way capital is formed have made it difficult for ordinary investors to achieve significant returns.

In contrast, although Meme coins have no practical use, their egalitarian capital formation mechanism and viral propagation characteristics provide more opportunities for ordinary investors. This reflects the current issues in the encryption market: the venture capital-supported token model has deviated from the path of stimulating community greed.

The advantage of the ICO model is that it allows any creative team to showcase their projects to the community and gain financial support without being controlled by any gatekeepers. Although most ICOs ultimately fail, a few successful cases can bring astonishing returns to early investors. This is precisely what attracts ordinary investors.

With the advancement of technology, ICOs are making a comeback in new forms. Nowadays, the speed of token issuance and trading is faster, liquidity is higher, and user experience is better. This creates favorable conditions for the revival of ICOs.

However, both project parties and investors need to learn from past lessons. Project parties should avoid high valuation and low circulation models, while investors need to say "no" to certain problematic practices. Only in this way can ICOs truly return to their original intentions and bring new vitality to the industry.

Overall, encryption projects should return to the essence of decentralization and high risk, high return. By re-embracing the ICO model, the industry is expected to reignite the spirit of innovation and create more opportunities for ordinary investors. Although this means taking on higher risks, it is precisely this characteristic that makes cryptocurrency a unique and attractive field.