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EOS ICO Approaches $4 Billion after Year-Long Crowdsale

The initial coin offering (ICO) for blockchain project EOS is approaching $4 billion as it nears the conclusion of its year-long token sale.

According to a report in the Wall Street Journal, EOS creator Block.one is on track to raise $4.2 billion by the end of the ICO, which began on June 26, 2017, and is scheduled to end on June 1, 2018, at 22:59:59 UTC.

Block.one has been somewhat opaque about what it intends to do with the funds, particularly since it claims that it will not develop or maintain the EOS software following its initial release. However, the company has already committed hundreds of millions of dollars to venture capital funds launched to support the development of projects that will utilize the EOS platform.

The EOS ICO is far and away the most lucrative token sale, in part because its 355-day duration is also the longest of any major blockchain project. Block.one raised $185 million during an initial five-day crowdsale, and that figure is often used when ranking EOS against other ICOs. Nevertheless, the full EOS crowdsale has raised more than twice as much as any other project.

The next highest raise belongs to encrypted messaging app provider Telegram, who claims to have raised $1.7 billion in a private sale restricted to a group of fewer than 200 investors. The company had initially planned to hold a public sale as well, though it reportedly canceled those plans due to regulatory uncertainty surrounding the ICO industry.

The EOS software is scheduled for an early June release, though questions have mounted over whether the development team — led by Daniel Larimer — will be able to meet that target.

As CCN reported, Chinese security researchers recently identified what have been described as “epic vulnerabilities” within the EOS codebase. At least one specific issue has now been patched, but the EOS price has nevertheless declined on fears that there could be other serious bugs that have not yet been discovered.

Today EOS is the 5th Cryptocurrency on the market and trading at $8.13 at the time of this article.

What lesson is there to be learned from EOS ICO? 

Despite so many proofs that common crypto project practice/model is a recipe for failure, many people are brainlessly criticising projects like EOS and ONECOIN for trying to do something different and possibly actually succeed. How crazy is that?

So with above in mind, will mass market adopt some coin that has no users base, no usability, no product or will it accept coin that already has usability in the private mode, 3.5 million active approved users? So ONECOIN is now ready to start going public phase.

After 3 years of building its community of over 3.5 million users, its usability platform with over 70,000 merchants on its e-commerce platform, ONECOIN is now ready for the mass market.

Mass market is waiting for a new digital currency that can be mass adopted, used by masses mostly consisted of non-IT and unbanked people.

On July 2018. in Cordoba, Argentina event, Konstantin Ignatov (Onecoin Sofia Management Group) announced that the company is about to transition from private to public and after that, the coin will start mass adoption. The transition of going public will be through coin offering that will start on September 2018 and end in January 2019.

The coin offering will be conducted via selling OFC (Optional Future Certificates) bundles, each comes with certain amount of OFCs.

Round 1 will start on September 08. This will be an informational stage where the company will give details about the rest of the process. The ICO will be completed over 4 stages, the last stage ending on January 2019.

Read full article about ONECOIN going public here: https://atozcrypto.org/is-onecoin-ready-to-go-public-ico-revealed-by-konstantin-ignatov/

The post EOS ICO Approaches $4 Billion after Year-Long Crowdsale appeared first on CCN.

Featured Image from Shutterstock.

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