In 2018, Block.One – a Cayman Island-based startup, raised 4 billion dollars in funding for the development of EOS Crypto, raising eyebrows the world across. Financial experts questioned the sanity and financial viability of such a venture in an industry that was so young.
The concerns were compounded by the fact there was no live product and no clear financial planning for how the funds would be used. Yet the fact remains that the investors had enough confidence in Brendan Blumer, the CEO of Block.One, to come together to invest such a huge amount during the token’s public and private sale.
At its core, EOS is a decentralized operating system with intrinsic support commercial-scale DApps. The developers aimed to solve issues involving scalability, economic viability and technical limitations faced by DApps on Ethereum’s main network. However, nearly a year later there are almost no major commercial adaptations using the EOS operating system, and as-of-yet, no truly successful EOS based DApp has been produced.
Eos Crypto Graph Report : TradingView.com
With the current bullish trend of EOS token prices gaining over 25% in less than 24 hours, the community behind EOS appears to be growing ever more impatient about the lack of project development. However, the community must face the reality, that even for a cryptocurrency centric company, developing a new disruptive operating system for the world computer is easier said than done.
Despite this, EOS has managed to gain more than 30% in the last week, and does not appear to be slowing down, ending today on a solid upswing. If it continues in this fashion, achieving $4 may come sooner, rather than later.
— Trading Room (@tradingroomapp) February 18, 2019
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