Block.One Releases News For Long Awaited EOSIO 1.0 For EOS Blockchain Launch

Block.One, a startup company based in the Cayman Islands has seen its year-long token sale provide an investment of over $4bn. The capital funding is set to be the largest amount raised for a digital token in history.

While this is a groundbreaking achievement for digital token sales. What remains unknown to investors is how precisely the company intends to use the investment capital. If Block.One is successful in obtaining the full estimated amount, it would make it the single largest Coin Offering.

The previous largest ICO was Telegram, which raised funding of over $1.7 billion. The fact that this company could successfully build such a high amount of money for a little-known company demonstrates the high level of liquidity and interest there is in blockchain-based companies.

This interest entered a fever-pitch in late 2017, with cryptos like Bitcoin and Ethereum hitting record levels of value. They gained a higher level of investor interest with the introduction of Bitcoin to the Chicago Stock Exchange in November 2017.

Even when cryptos entered a bearish trend during early 2018, the level of investor interest hasn't lost much steam compared to other areas. By early January, a further $1.6 Billion was funneled into various ICOs as the applications for blockchain expanded alongside investor interest.

This expansion of interest and blockchain application is demonstrable through the amount of funding from 2017 and 2018. ICO's in the first months of 2018 has raised over $7.15billion compared to 2017's $6.6billion.

2018 is already breaking records in the first quarter, and that's not even including the round of funding accomplished by Block.One. While, according to recent research, one in five ICOs turns out to be fraudulent. Investors clearly see them as a method of getting rich through an exciting opportunity.

creen Shot 2018-05-29 at 18.18.49.png

The reason for some of this investment hype is because blockchain-backed companies are able to issue white papers and concepts that promise to disrupt broad areas such as the internet.

Block.One is a company that fits very much into this category of investment; promising to completely decentralise things like the Internet or dramatically change the architecture of a known quantity.

It's the hope that platforms like Block.One will be able to revolutionise areas like online payments. Cryptocurrencies like Ripple have demonstrated themselves to be fierce competitors with established payment systems like Paypal.

Other crypto forces include Ethereum, which has gained significant ground thanks to its use as a foundation platform for other blockchain companies. But while it's regarded as the second largest cryptocurrency, Ethereum still has a problem with scaling. This artificially caps the crypto's transaction rate at 15 transactions per second.

EOS believes it can seize the initiative in this area and successfully occupy the gap between Android and Ethereum. It intends to do this by creating systems that aren't as decentralised, allowing them to process more transactions per second.

The $4bn ICO, as a result, gives Block.One a vast war-chest that can immediately be put to use against Ethereum and in creating the new underlying software it plans to develop. Confusingly, this system will also be called ‘EOS'.

Block.One is still unclear on how it intends to use the money gained through its token sale. But with an abundance of capital, the options are numerous, one of which is the development of a platform for hosting web applications.

While this is an exciting prospect, EOS intends to develop and unveil the platform in June. But has no intention of continuing to develop it over time. Block.One does intend to allocate over $1bn to funding companies that seek to build on top of the EOS system.

This leaves over $3bn in funding that still remains in the dark as to how it is going to be used, however.

So far, Block.One has currently sold over 900 million EOS tokens over the year, with daily auctions contributing immensely to this total. According to Dafeng Guo, a 30 year old Hong-Kong citizen exemplifies the level of interest placed at the foot of companies like Block.One.

“I believe the (block.one) team has the technical capability of carrying this project out.”

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

sixteen + 16 =