TEZOS - Revolutionary New Blockchain Concluded Largest ICO Ever ($232 Million)
The Tezos ICO just ended - with a total fundraiser of $232 Million, eventually making it the largest ICO to date.
This sum relates to 65,630 BTC and 361,122 ETH which were collected until the close yesterday - this even topped the ICO of Bancor, which had previously been the largest ICO ever.
The ICO started on July 1, and had already raised a record-breaking $160 Million in the first 32 Hours alone.
There was a timed passage of 2,000 transaction blocks on the bitcoin network.
Although Tezos was named the largest ICO ever, I actually believe that Dan Larimer's EOS will surpass it. But the EOS ICO is still running for almost a year, so we'll have to wait and see.
What is Tezos about ?
Tezos is a new, improved kind of blockchain - it's a smart contract platform with a formal governance mechanism.
It's called a "self-amending cryptoledger", which rewards those who upgrade the protocols of the network and allows for
"seamless" upgrades of those protocols .
"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."
Tezos vs. Ethereum - What's the Difference?
It seems like Tezos and Ethereum are quite similar since both focus on smart contracts.
But what exactly is the difference?
Both Tezos and Ethereum are smart contract platforms and decentralized ledgers that operate on a blockchain.
The first difference is their consensus: While Tezos operates on a proof-of-stake consensus protocol, Ethereum uses proof-of-work. But it has been announced that Ethereum eventually plans to switch to proof-of-stake in the future as well.
While Ethereum uses a hardfork to upgrade the network, Tezos has come up with another solution:
Their protocol upgrades are formally proposed on the blockchain where stakeholders can then vote for them according to preset governance rules.
If a proposal gets adopted, it is compiled and then automatically moves on to the Tezos testnet.
After a test phase, a confirmation vote is held - and if that turns out successfully, the testnet is automatically promoted to the main network.
This means that Tezos can upgrade without a hardfork.
How can you invest in Tezos ?
Right now, the ICO (crowdfunding) for Tezos is closed. So you can't buy any tokens right now.
But as soon as the tokens are launched on the exchange platforms, you can buy them like any other cryptocurrency.
There was no date announced for the exchange start, but it will probably take several months.
Conclusion
Tezos revolutionizes Blockchain technology - it's a very promising project that ended up being the largest ICO ever.
The technology is completely new and offers many solutions to problems we currently face with Blockchain.
I have also invested in Tezos and I think we'll hear a lot more about it in the future!
What's your opinion about Tezos and how it will influence the future of cryptocurrency?
© Sirwinchester
Tezos has some problems.
See my comprehensive post below for more information.
https://steemit.com/tezos/@kyle.anderson/we-don-t-need-to-hardfork-a-questionable-story-about-tezos-ico-july-1st
Tezos thinks it opened a more successful ico than bancor
Good information Thanks. .
These days anyone from any industry is starting an ICO. Who is this Arthur Brietman? What are his achievements? Working in financial sector as VP doesn't mean he is VP of that company. There are many VPs these days in almost every company. No cap ICO will definitely break the record because there are investors who really don't invest for investing but to sell it off immediately to dumb people who are ready to buy at a higher price.
Personally I could understand a project like BAT raising some huge funds. I am not trying to sell BAT here but Brendan Eich has a huge credibility to invest in. One who has invented Javascript which is running behind as I am writing this code and the founder of Mozilla foundation. That's huge. Just trying to provide an example.
Also when these people receive the money in ETH, they will have to sell it off in the market someday or the other for company expense if they are genuine. I wonder what could happen at that time and how the math would work. What if they delay the project and just abandon giving some lame excuses within legal boundaries as they have no goodwill or credibility associated with their names. Who was knowing Arthur Brietman before? There is no core product and then an idea which is trying to copy Ethereum by adding extra features for the cost of this ICO just doesn't justify it. I also wonder why Tim Draper is investing in this company as there was no cap on the ICO. How can these guys justify the investment crypto investors do?
So just trying to make the community aware of before investing in such ICOs without any research. Yes someone benefits a lot but at the same time someone can lose a fortune and then we call this a crypto community. That's strange...
To conclude, I am not blaming ICOs but trying to show how people are exploiting such opportunities. Be careful, invest wisely. God bless all!
Prepare n brace yourselves when all these ico decided to dump all the eth n btc in open market. Ask yourself these: Why do u need so much money to create a hardware wallet? How much must the company and can the company earn to make up for this kind of valuation?
We'll see how the Tezos ICO scam weathers the complaints to the SEC and state attorney generals that are building daily. You have to go no further than their FB site to see what is going on.
https://www.minds.com/newsfeed/738672564238295057
$232 Million, 65,630 BTC and 361,122 ETH, that's what is needed to launch new chains these days?
welcome to the hype train, sry but there is not that much needed for a hardware wallet... that doesnt make sence
Any information on how is the voting power to make changed distributed in the network/ecosystem?
Nobody cares about the money raise really, go in for the profit or stay out. Am in with tezos
It seems like such a risky time to buy ico's but you never know. It could end up being a top 10.