EOS.IO software by block.one wants to “Decentralize Everything”. Mr. Larimer has already put two notable blockchain systems live: BitShares and Steem.
The successful ICO campaign of EOS surpassed the amount of capital raised by billionaire investor Tim Draper-endorsed Bancor Network in its ICO.
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Cryptocurrency exchange Kraken has announced today support for EOS trading. The EOS Token distribution, which began last Monday has already raised over $185 million through the first week.
While many saw BitShares’ introduction of market-pegged assets as a much-needed hedge against cryptocurrency volatility, others saw the project as overly convoluted and deceptive. And, many were flustered by Larimer’s abrupt exit from BitShares, which left the entity with no clear path forward.
The crypto markets have spent the last week struggling to stay above the $100 billion threshold, and that fight continued on Wednesday.
ICOs, the most preferred way to raise funds for cryptocurrency startups have been creating records lately. If the EOS token does not have any uses, purpose, or functionalities then purchasing the token seen superfluous.
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EOS is definitely building it's reputation from the transaction ability of Bitshares and the community of Steemit. If the tokens become oversold and EOS is unable to produce, that would be an issue, but at this point, everyone in the crypto space is building and I think there's a lot of leniency and time for building. Mass adoption is quite a ways away there's a lot of new money coming into this sphere...especially with the demise of fiat coming. That wave hasn't even started yet. Those people will have to find a place to put their dollars and it hasn't even begun yet.
@good-karma @kingscrown @jerrybanfield @curie @eos