50% of All EOS Tokens Are Held By Only 10 Addresses

According to Bloomberg, which released the news, this will value the company at a record US$2,3 billion from the US$40 million evaluation of its seed round in 2017. Thus, the state of the entire EOS blockchain is likely to be determined by a mere 1,000 address holders, as they account for 85 percent of the total amount of EOS tokens. Given that there are more than 160,000 contributors to the project, arguments can be made regarding the level of democracy supposedly governing the project. This text is informative in nature and should not be considered an investment recommendation. Any investment or trading is risky, and past returns are not a guarantee of future returns.

There was no similar ICOs to EOS token sale, which was long, complex and among the most successful in ICO history. Its overall time span was around a whole year, starting June 26, 2017, with 350 separate periods of token distribution. At the end of each period, total number of EOS tokens designated for that period was distributed to contributors based on the amount of ETH they invested divided by the total contribution amount. Block.One’s yearlong initial coin offering for the EOS blockchain raised a record-breaking $4.1 billion in 2018. Block.one, the developer of EOS and main competition to the Ethereum network, will finish its year-long coin offering tomorrow having raised $4 billion in investor funds. The fine was relatively modest compared to the amount raised during the ICO.

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This allowed Block.one to reallocate the remaining funds to other EOS related-projects like the upcoming launch of a subsidiary called Bullish, a cryptocurrency exchange valued at about $9 billion even before its launch. Decentralized applications were supposed to be developed, hosted, and run on the blockchain-based platform with zero transaction fees while handling thousands of transactions per second, even millions in the future. Using common languages, like C++, developers would find it easier to build DApps on top of EOS rather than learning an entirely new language like Ethereum’s Solidity. More importantly though, this questionable buyback shows that token holders are not worth the slightest consideration. In fact — by pocketing the ICO funds — Block.one´s management and shareholders signal a total disregard for token holders´ legitimate — though not legally enforceable — expectations.

• There can be variations in the different blockchains; however, the main principle of decentralization in governance should be observed for the technology to make a difference in the industry.
• Given that there are more than 160,000 contributors to the project, arguments can be made regarding the level of democracy supposedly governing the project.
• There was no similar ICOs to EOS token sale, which was long, complex and among the most successful in ICO history.
• Samuel Haig is a journalist who has been completely obsessed with bitcoin and cryptocurrency since 2012.

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The sale of tokens is comparable to a crowdfunding campaign, with the difference that all subscriptions and issuance transactions are recorded on a public blockchain ledger. EOS began raising funds in the summer of 2017 with a year-long initial coin offering that raised a record-breaking $4 billion USD. EOS tokens first began trading at around $1.28, and apart from a brief spike to $5.10 in July 2017, EOS spent its first few months trading below $2. This changed at the end of November, when EOS’ market cap surpassed $1 billion as its price increased by more than 560%, reaching $17.57 in January 2018. Block.one held an initial coin offering of EOS tokens in 2018, releasing 900 million tokens for approximately $4 billion, making it the largest ICO. Block.one raised $4 billion in ICO, but many people have been disillusioned with the company’s trajectory since then.

eos ico raisedIO’s Dawn 1.0 was launched on the EOSIO mainnet on June 1, 2018, and is currently operating under version 2.1.0. The original test net, Dawn 1.0, was released on September 3, 2017, with test net versions Dawn 2.0 released on December 4, 2017, Dawn 3.0 on January 25, 2018, and Dawn 4.0 on May 7, 2018. VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact.

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But investors still don’t know how the majority of that capital will be used. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.

The best performing cryptoasset sector is Yield Farming, which gained 9%. Energy used by proof-of-work based cryptocurrencies makes EOS stand out for its energy efficiency. The crypto network’s delegated proof of stake consensus mechanism uses less energy, making the network energy efficient than many of its peers.

Of course, it’s worth pointing out that individuals or entities can hold more than just one address, so that particular number doesn’t necessarily reflect the number of holders. Conversely, individuals may not be involved in the blockchain and participate in EOS token trading only through exchanges, so the number of address holders can be widely underestimated. EOS uses a delegated proof-of-stake consensus mechanism, whereby 21 delegates are voted for by EOS token holders out of a larger group of candidate block producers. These voting rights, along with the share of block rewards that EOS holders are usually compensated with, could drive demand for EOS – which would provide upward pressure on its price. Block.one’s EOS ICO has raised approximately $700 million USD, despite EOS’ FAQ page clearly stating that token-holders will not be afforded any rights or functions. The token sale currently comprises the largest ICO to date, with the company anticipating a launch in June 2018.

Sign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context. For comparison, six months into the EOS sale, the startup behind it, Block.One,had raised $700 million, according to a December 2017 report by the Wall Street Journal. LiquidApps declined to provide comment on the results of its token sale so far, despite multiple attempts by CoinDesk for comment. New cryptocurrencies aren’t raising money like they once did, even during marathon sales. However, six months in, LiquidApps had sold only $2.8 million worth of DAPP.

Eos MARKET CAP

But this competition will have at least 10 https://www.beaxy.com/ instead of two and “it’s going to be much messier,” Samani said. Other pundits say faith in Brendan Blumer, the company’s CEO, and Dan Larimer, its chief technology officer, are the reason investors trust that the start-up will deliver. Larimer has founded two high-profile crypto companies, Bitshares and Steemit. Mougayar called Block.one an anomaly, on the “extreme” side of the fundraising spectrum.

• RAM is the ready, easy-to-access memory that applications need to work through a given function.
• As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.
• This meant that on one day, investors could transfer 1 ETH and the amount of EOS they received the day before for transferring 1 ETH could be dramatically different depending on demand for the day.

These trends are particularly evident for big players which finds more interest from large investors in the private sale. For instance, Telegram canceled its public sale after it had raised $1,7 billion during a private round. Instead of being run by a limited number of mining pools, EOS is intended to have a group of 21 Block Producers voted in by the community. Under the Delegated Proof-of-Stake algorithm the network is running, block producers will be creating the blocks of the blockchain and receiving substantial rewards in EOS tokens which are produced by token inflation. EOS’s second surge in Q2 of 2018 may have been driven by an influx of investors wanting to get involved with the ICO before it ended in June – it was already making waves for raising more than any previous ICO.

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The research does not accuse Block.one itself of any wrongdoing, and the company has cited a report stating there was no evidence it was involved. Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Since releasing vRAM, LiquidApps has put out many more useful tools for developers, such as a way to make accounts for free , an oracle system and a time tool, among other things. LiquidApps XLM eos ico raised published a detailed account of progress so far early this year.

Like many cryptocurrencies, EOS price follows what’s known as a ‘boom-and-bust’ cycle. This is a pattern where growing excitement causes a spike in interest and a sudden explosive surge in price, at which point doubt and disillusionment set in – resulting in an equally sudden crash. Let’s take a look at its historical price performance to see how EOS has performed in the past. The more people are using and building on the blockchain, the more likely the value of its token will increase. According to the agency, the company must pay a fine of $24 million for running an unregistered ICO.

The biggest IPO this year, AXA Equitable Holdings, raised $2.8 billion in its May 10 offering, while ADT raised $1.5 billion in January, according to data from Pitchbook. Judging by the improved mood in global equity markets, investors are ETC once again having a go at central banks. Despite a slew of data from around the world showing stronger-than-expected performance in economies and labour markets – red signals for inflation – equities are on the mend. On Tuesday, Asian equity markets ticked up but the main focus of investors will be Federal Reserve Chair Jerome Powell’s testimony before Congress on Tuesday and Wednesday.

Tokens price is characterized by an high volatility and the risk to lose value in the long term. The top 1,000 addresses hold 858,120,383 (or 85.81 percent) of all tokens, leaving the 900 addresses between 100 and 1,000 with no more than 11 percent of the entire amount. Nearly 50 percent (49.67 percent) of all EOS tokens are currently distributed among just 10 wallets, according to a reportfrom Trustnodes.

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Larimer had previously worked on the decentralized exchange Bitshares from 2013 to 2016. After that, he worked on Steemit, a blockchain-based social media platform. Based on a white paper published in 2017, the EOSIO platform was developed by the private company Block.one and released as open-source software on June 1, 2018. At the launch of the blockchain, one billion tokens were distributed as ERC-20 tokens by Block.one.

This means that the next 90 addresses outside of the top 10 hold roughly 250 million tokens — or 25 percent of the total lot. It also bears mentioning that less than ten entities or individuals could conceivably be in charge of these accounts. As outlined by Trustnodes, it’s highly likely that most of the addresses belong to popular cryptocurrency exchanges such as Bitfinex, Binance, Upbit, Huobi, Bithumb, and OKEx.