Fri. Sep 24th, 2021
block one

The hot streak for initial coin offerings (ICOs), which is a way for the public to buy new cryptocurrencies, continues. Hong Kong-based company Block.one announced today that it has raised about US$185 million (ETH 652,902) for its Ethereum-based EOS tokens.

The startup’s main product, also called EOS, is a software that allows developers to build blockchain applications on top of it. EOS can support hundreds of thousands of transactions a second without charging users any fee, the company claims. That’s more than the 24,000 transactions that Visa handles every second.

Like many ICOs, Block.one doesn’t have a working prototype to show to the public. Investors decide whether to back the currency based on a whitepaper produced by the firm. Because of the nature of ICOs, plus the fact that it’s unregulated, there are concerns that the ICO is a bubble waiting to burst.

To Block.one’s advantage though, one of its founders is CTO Dan Larimer, a cryptocurrency veteran who’s responsible for projects like BitShares, a decentralized exchange, and Steem, a Reddit-like website where users can make money by posting content.

Block.one looks set to raise even more from its sale, which has been running for five days and still has 350 days remaining. It has sold 20 percent of the tokens on offer.

The previous ICO record holder, Bancor, which raised about US$153 million, is a platform for users to launch their own blockchain tokens.

Block One Sources

>> Whitepaper
>> Tech Asia: Hong Kong company raises $185m in record-breaking initial coin offering

By BNA

3 thoughts on “Block One: Hong Kong company raises $185m in record-breaking initial coin offering”
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  2. Definitely believe that which you said. Your favorite justification appeared to be on the internet the simplest thing to be aware of. I say to you, I definitely get irked while people consider worries that they just don’t know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side-effects , people could take a signal. Will probably be back to get more. Thanks

  3. Well, with STEEMs founder on board with this, you know good things will happen. And if it was able to sell 20% of tokens in just 5 days, I think it will do just fine.

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