4 Billion Dollar ICO!
Yes, that is true. And no it was not accomplished by Telegram which most of us following ICOs believed definitely was the frontrunner in becoming the largest ICO to date. Yet, the veterans of the blockchain space out of Hong Kong and some parts "US", showed what kind of funds can be raised with a year long ICO pulling in funds. Have you heard of "EOS?" A very advanced platform for blockchain development.
EOS more specifically, is developing blockchain infrastructure designed to support smart contracts and address scalability issues with existing blockchains. The project’s developers say it “has the potential to scale to millions of transactions per second,” according to the latest EOS press release. You may be smiling and say, "I think I've heard other companies that are addressing the scalability problem of bitcoin blockchain or others. Yes, there are many popular tokens or coins that have taken on this mission. Litecoin for starters. DASH, Bitcoin Cash, Ripple, NEO, Monero, NEM, and ZIL just to name a few.
Seems like many have a different angle on how to expand the blockchain for better useability or operability across platforms. Some have focused on digital wallets to allow for ease of token or coin transfers. Others have dug deeper into the blockchain and found great ideas yet, limited scalability. We have the likes of Zulliq which is using something called "sharding" to support the additional transactions and the speed. Reports show that ZIL is closer to credit card speed transaction capability and thus near mainstream entry. Others promote "blockchain-like" platforms that have fast transaction speeds yet, have not solved the inter-blockchain problem. Don't forget about The "Lightening Network" or "Raiden Network" in this fight. IOTA has created a means to be used for blockchain development yet, they use "The Tangle" to support their direction in this race. All very powerful on their own.
I did read that the proper consensus mechanism can make a lot of difference with transaction speed on the blockchain. According to the whitepaper, EOS mainet is supposed to be faster and more flexible than what we know. The main goal is to eliminate user fees. Many miners and stakeholders measure quality with PoW or PoS yet, one robust mechanism is emerging
; delegated PoS. Will this be the advance that turns the corner on the scaling problem? Will EOS be the front runner? We've heard that Neo has the capability to compete with the ERC20 token attributes of Ethereum as well as TRON yet, it doesn't look like that's developing as we thought. Ethereum now faces a legitimate competitor to force it to scale, speed up, and improve usability. EOS has the funding, developers, platform and strategic partners to create healthy competition in the blockchain era.
Yet, Block.One (company behind EOS) has opened the door for teaming opportunities with some very strategic moves. Galaxy Digital, a full service merchant bank is one of those companies. They are excited to partner with EOS because the EOS community is introducing the first scalable infrastructure to enable mainstream blockchain adoption. EOS also has what they call the EOS Ecosystem Fund to partner with proper ventures that will promote their vision. It doesn't hurt to earmark $1 billion to fund join ventures like the one EOS has recently partnered with; Tomorrow Blockchain Opportunities. These strategic moves will surely give EOS reach well into the future of blockchain technology.
What does it take to raise over $4 Billion in an Initial Coin Offering? I can think of 2 keys things when it comes to the success of ICOs. As you think about what is the simplest thing that makes any business known and perhaps successful? 1-Attention and 2-Exposure to the market. Block.One started with a coin; EOS. Then after trading it for sometime they opened and ICO and before publicly launching you would see or hear about them everywhere. They had successful influencers in the blockchain space out front speaking to crowds across the globe about major solutions to the scaling challenge with blockchain. This is a IT centric approach vs just talking about how to solve one problem. They knew how to get attention and keep your attention. Their promotional methods kept you wanting to know more while waiting for your chance to invest. They captured our attention and kept us interested for almost 1 year. Yes, exposure to this ICO company for at least a year; since last June 2017. No other ICO has been open for this long! Will this be the way of future ICOs?
*As of today Block.One sealed a deal with SVK out of the UK worth $50 million and they launched their first blockchain software "EOSIO" 1.0. EOSIO is touted as a revolutionary decentralized protocol for both enterprise and community applications. Keep listening for more details coming.
So if someone asks how to raise $1 billion for an ICO... you now know the secret. :-) Or refer them to a source that will help them clarify the nuances of this high tech environment. www.reel-e-news.info
#proofofstake #blockchain #bitcoin #ethereum #erc20 #EOS #BlockOne #ICO #fintech #smartcontracts #NEM #HongKong #decentralized