The billion dollar ICO

As we greet June, Goldma has eyes on EOS: the big buzz on the crypto sphere. If you are not technically-minded, their White Paper reads like Latin to the non-Latin speaker. However the more you read about it, the more you want to immerse yourself in this new technology.

“The EOS.IO software is designed from experience with proven concepts and best practices, and represents fundamental advancements in blockchain technology.”

From a layman’s point of view, what we are looking at is a platform on which all the bugs and negative features experienced through current Blockchain Technology have been removed in addition to exciting and innovative new features of its own.

Their ICO project (whose token sale spanned almost a year) raised approximately $4.1billion. Launching June 17, 2017, they raised $200million on their first day which is a phenomenal start to any project. Interestingly enough, April and May 2018 showed a spike from the Asian Market attributing to 70% of money raised.

They appear to have found a way to advance Blockchain Technology such that it improves the experience of the user. For example, you are now able to send your transaction to a recognizable user name versus a wallet address which reduces the chance of you making a error. Due to advanced capacity, there will be a greater number of transactions processed. A third example any user would find thrilling is the fact that there will be no transaction charges for users.

Block One, EOS’s parent company is registered in the Caymen Islands. There, one finds a favorable regulatory and business environment that is suitable for cutting-edge financial technology companies.

The ongoing success of this project makes one take a step back and wonder what we can glean from them.Does extending the time frame for the ICO affect the outcome (in terms of funds raised or eyes on the project)? Or does this not happen without being coupled with a quality product.Do you attract more investors by developing products that benefit users? Or can the success here be based on the simple fact that it is different technology?

Could the Law of Diffusion of Innovation explain why the EOS token had a market price that was below $2 for approximately 4months? The law, to varying degrees, places people on a spectrum of those who try things first, and those that would rather take the cautious approach.

As seen above, there are noticeable changes after December 2017. The law would explain these changes as the result of greater market penetration or awareness. As more people become aware of how good EOS is, they bought the tokens. That, in turn, inspired greater numbers to participate in the EOS token market.

Contrary to popular belief that Blockchain is just a bubble, EOS is proving that the Blockchain technology can be advanced further. Who knows what platform Goldma will be using this time next year! The sky is the limit as far as innovation is concerned and we are all in favor of advancements within this medium!

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