The latest episode of Good Morning Crypto discusses the end of the year-long EOS ICO and what it means for the cryptocurrency ecosystem. The format ensured that tokens were distributed in a fair way, and allowed those who missed out on earlier distribution the opportunity to participate as the ICO continued, while also generating $4bn for EOS. Meanwhile, Ethereum now has Block.one as one of its biggest token holders. The video also talks briefly of news that software pioneer John McAfee has announced plans to launch his own paper currency.
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Good Morning Crypto: The End of EOS ICO and Its Impact on Ethereum
Welcome to another episode of Good Morning Crypto with Ivan on Tech. Today, we broadcast one hour earlier than usual due to some missing guys outside who are part of the team. Nonetheless, we are excited to have you here with us. In this episode, we will focus on the end of EOS ICO and how it affects the global crypto industry, particularly Ethereum.
Market Update
Before delving into the main topic, let’s first review the market. Currently, the markets are slightly reddish with almost zero movement. Among the big winners are Golem, Tokenbox, and Binas. Investors are disappointed with the slow implementation of most crypto projects, which usually takes more time than initially promised.
Coding Academy
Today is the last day to enroll in the Coding Academy, where you can learn programming from scratch and programming on Eos, Name and Ethereum. The course is extensive and will be launched tomorrow, September 1, 2018.
End of EOS ICO
EOS ICO has been one of the most significant ICOs in the history of cryptocurrencies. The ICO has lasted for one year, allowing for a more equitable token distribution. The concern with most ICOs is that the first users to use the ICO contract usually get all the tokens. Therefore, having a one-year ICO enabled each day’s participants to purchase tokens while capping the release of tokens each day. This approach is an experiment on how to structure future fundraisers, and it has proved successful for EOS since the ICO has raised a lot of money.
Impact on Ethereum
The end of EOS ICO has put Block.one in a powerful position within the EOS ecosystem. Currently, EOS has raised 4 billion dollars, and the market is eager to see what the company will do with this money. Block.one’s plan is to fund projects that will build on top of EOS, thereby promoting the ecosystem. The impact on Ethereum is noteworthy since Block.one is now one of the biggest Ethereum holders globally. There have been concerns that the sale of Ethereum by Block.one could lead to significant changes in the market.
Launch of EOS Network
EOS launch of its network has been unique compared to other cryptocurrencies. Block.one has released the codes, but the community has to launch the network. This approach provides enough time for the network’s stakeholders to get to know each other better before launching the EOS platform.
Conclusion
The end of EOS ICO is a significant milestone in cryptocurrencies, and its approach to token distribution may inspire other projects to adopt the same strategy. The impact of EOS on Ethereum is still unclear, and it will take time to see how the market responds to the launch of EOS ecosystem and the release of Ethereum by Block.one.
