A fierce competitor to the Ethereum network, EOS is one of the most popular cryptocurrencies trading on the market today. Block.one, the developer behind EOS, has already raised a record-breaking $4 billion USD from its yearlong ICO ending on June 1.
The Largest ICO To-Date
The initial coin offering phenomenon has taken the world over as a new method for startups to raise significant amounts of capital without having to give up equity and draw investments from venture capital or institutional firms.
According to WSJ, the total amount invested in ICOs has risen from $6.6 billion in 2017 to $7.15 billion USD in 2018 so far – despite regulatory uncertainty and restrictions in many major countries, such as China and South Korea.
EOS has sold over 900 million ERC-20 tokens worth nearly $4 billion USD in their yearlong coin offering launched June 26, 2017.
Dwarfing most other ICOs and nearly doubling the second largest coin offering of this year (Telegram at $1.7 billion USD), EOS is well-prepared to launch its mainnet on June 2 and compete with Ethereum for the mantle of the most popular blockchain operating system.
EOS, currently ranked #6 by market cap, is up 7.95% over the past 24 hours. EOS has a market cap of $5.82B with a 24 hour volume of $2.57B.
Chart by CryptoCompare
EOS: Post-Crowdsale Plans and Expansion
According to their website, EOS plans to leave their software open source for developers to build out the platform and ecosystem via upgrades to the public chain and decentralized applications (dApps).
In addition, EOS has invested over $1 billion USD in startups developing applications on the Dawn 3.0 smart contract platform.
Despite a recently uncovered security flaw regarding a potential “Supernode Attack” that would leave the EOS network susceptible to breaches in private data, the next-generation smart contract platform has made strides in reaching its determined mainnet launch on June 2.
In an effort to expand the team, Dan Larimer, Co-founder of Steemit and EOS CTO, has listed eight key developer positions for software engineers looking to work on the EOS project.
Block.one CEO, Brendan Blumer, has also recently hired Richard Jung, former CEO of leading Korean cryptocurrency exchange, Bithumb, as Head of Korea operations – a clear move towards assembling a world-class team to spearhead the scaling of EOSIO 1.0.
Cover Photo by Jesse Echevarria on Unsplash