July 25th, 2017
Well… the Cryptocurrency mania/bubble/new paradigm appears is in full swing – and it also seems to be sustainable for the time being. Steep drops in coin value are the norm but they also can recover their value- albeit in varied periods of time. This game is not for the faint hearted as they say, although some of the coins have gained so much value that if you were early into the game, you could comfortably ride out the drops, arguably anyways…
The valuations and speed with which new ICO (Initial Coin Offerings) are being produced and the amounts of money being raised is head spinning and mind-boggling at the same time!
-Tezos Coin for example raised $232 million U.S. in about 2 weeks- the largest ICO funding raise to date- at least as of July 15th! It is literally hard to keep up with all the action. Here is a description of Tezos Coin from their website:
“Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth. It facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.”
-EOS Coin raised $185 million and it’s tokens don’t appear to even do anything yet, or have any value!
There is no blockchain backing this project as of yet. The team behind EOS is stellar however, with Dan Larimer having been involved as founder of Steemit and Bitshares, two impressive blockchain projects. The promise of EOS coin is to provide vastly improved transaction speed- to rival that of Visa and other current transaction industry leaders. The team states that they won’t be ready for a year however, and in this time Ethereum may be able to solve it’s bottleneck problems, rendering EOS less valuable or not needed… Since this is stated from the outset by EOS coin management, the risk is clearly delineated.
Dan Larimer is a major heavyweight in the industry so we will be watching this one with great interest.
Here is a great interview with Dan Larimer by Jeff Berwick which shows how brilliant the work is that Dan has done so far, and why keeping a close watch on EOS coin might be a very profitable idea…
Disclaimer (the editor holds EOS coins).
Please return to read more news on this crazy internet 3.0 development !
Author: Brian Allossery