Our friends at Modular have a great explanation for you: "Token sales in the past have faced many issues, most notably the tradeoffs between capped and uncapped sales. In a capped sale, there is a chance that some buyers will not get to the sale in time and be excluded. In an uncapped sale, the buyers have no idea what the total valuation will be and thus have no guarantee of what percentage of the total tokens they will be buying. The interactive crowdsale protocol aims to solve both of these issues by allowing the market to decide the valuation through a series of bids that everyone is allowed to participate in. This is accomplished by having participants submit what is called a personal valuation cap, in addition to the regular ETH payment for tokens." - https://medium.com/modular-network/building-the-interactive-token-sale-1545514bf108

We have published our thoughts on the Interactive Coin Offering in our own Medium article: https://medium.com/tvtwocom/what-icos-should-look-like-in-2018-a96eda686a9b

You will just need MetaMask and our website to participate. A detailed explainer video will follow in April. The code of the smart contract is up on GitHub: https://github.com/TrueBitFoundation/interactive-coin-offerings