EOS Raised $4 Billion in Largest ICO Ever, Now they are Launching their Platform

EOS, described as an operating system on which scalable Decentralized Autonomous Communities, or “DACs,” can easily be built, launched, and governed, is ready to go. The company seeks to “empower communities to create the next era of disruptive organizations.”

In a Tweet, EOS announced that their EOSIO stack exchange is now available to the public.

 

EOS (aka Block.One) is notable for multiple reasons beyond being a new blockchain ecosystem.

First, Cayman based EOS raised a whopping $4 billion in an initial coin offering (ICO) that started in 2017 – the largest ever. The money poured in even before the platform was built out – perhaps a testament to the marketing prowess of the EOS team.

Second, EOS received a blistering onslaught from John Oliver who focused on EOS’s affiliation with Brock Pierce who was prominently displayed in Oliver’s monologue that ridiculed EOS and cryptocurrencies in general.

A write up in WSJ.com from last December described EOS as having no purpose.

What EOS does have is plenty of cash. With $4 billion sitting in Cayman, EOS can do quite a bit.

EOS is kind of like an Ethereum alternative. The new shiny in smart contracts and blockchain to build DApps. EOS benefits from Ethereum’s advantage of being first so now EOS can improve upon intrinsic shortcomings of Ethereum such as scalability and speed.

The EOSIO StackExchange is in Private Beta now accepting feedback from the community during the “probationary” period as EOS seeks to “discover how active and useful the site will really be.”

So can the hype match reality after raising more money than the average IPO? Hard to say.

The EOS launch has not been without the inevitable scams and questions regarding code flaws. EOS tweeted earlier this week and addressed claims of vulnerabilities stating that everything was copacetic.

 

In the end, like most blockchain projects it is going to take some time to see if lift off occurs or, perhaps, not so much. Can EOS compete with its Ethereum cousin and deliver on its decentralized vision?

“I hear a few founders are thinking about raising funds with EOS rather than with Ethereum ICOs – as they originally planned – because EOS is “newer” and promised to subsidize its ecosystem,” shared Fabio Ciucci, a Fintech and crypto expert.

In the blockchain world, EOS is just more of what has become the new normal. At least for now.

 

 

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