ICO stands for Initial Coin Offering, which is a fundraising method used by new cryptocurrency projects to raise capital. In an ICO, a quantity of the project's cryptocurrency tokens is sold to early investors in exchange for legal tender or other cryptocurrencies. These tokens can represent a stake in the project, access to a specific service or product, or other utility within the project's ecosystem.

Here's a general overview of how ICO development works:

1) Whitepaper creation
2) Smart contract development
3) Token sale
4) Token Distribution
To gain a better understanding ICO development, it is advisable to seek advice from a trusted ICO development company like Developcoins.