Bootstrapping

Bootstrapping is a term commonly used to describe the process of starting a business from scratch, typically with minimal initial capital provided by the founder. In the context of blockchain technology, bootstrapping entails the development of the blockchain protocol, the establishment of the ecosystem’s cryptoeconomic and governance structures, and the strategic planning of fundraising initiatives, such as coin/token sales, to fulfill capital requirements. The term “bootstrapping” originated from the expression “pulling up by one’s own bootstraps,” which initially conveyed the idea of an impossible feat but later became a metaphor for achieving success without relying on external support.