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
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Tezos thinks it opened a more successful ico than bancor
Good information Thanks. .
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
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!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
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?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
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.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
https://www.minds.com/newsfeed/738672564238295057
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
$232 Million, 65,630 BTC and 361,122 ETH, that's what is needed to launch new chains these days?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
welcome to the hype train, sry but there is not that much needed for a hardware wallet... that doesnt make sence
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Any information on how is the voting power to make changed distributed in the network/ecosystem?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nobody cares about the money raise really, go in for the profit or stay out. Am in with tezos
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It seems like such a risky time to buy ico's but you never know. It could end up being a top 10.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @sirwinchester, thanks to you I know this community. Followed you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
When I posted at exactly after breaking record of crowd sale no one even noticed my posts .
https://steemit.com/news/@mysurrounding/usd232-million-finishes-record-setting-token-sale-of-tezos-blockchain-ico
i dont get I uploaded it yesterday still no one even noticed my post , and look at your blog , you posted just 3 hours ago and more than 288 votes , some times i dont understand Steemit Community.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Perhaps the case is this guy with top content has more than 3k followers, and you've just started with around 70. Don't despair, hard work and consistency of original content and engaging articles are of value here. Keep going
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Okay I get That , Thanks , for your reply .
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for an inspiring review. Check the Tezos name, there are typos in the title and elsewhere.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Should be who is backing behind this projects? EOS is guy who helped build up bts and steemit. He's good. Saw that draper and possible bankor backing behind Tezos which might explains that high funds being raised.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has been ranked within the top 10 most undervalued posts in the second half of Jul 14. We estimate that this post is undervalued by $58.79 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jul 14 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think Tezos has huge potential but like many new projects raising funds via ICO (Bancor, Status, etc) is is overvalued at this moment. We are seeing many projects now cheaper than when they ICO'd and this might happen with Tezos when it reaches exchanges. Still this is a quality project and although ICO's are getting out of hand I think with mainstream adoption they could get even crazier. 230M+ might not be so crazy 5+years from now.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm into Tezos. I think it'going to be an important crypto.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Not 100% sure but i believe EOS collected a lot more funds then Tezos!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes your's right
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Going to be interesting to see how it plays out. Tezos will compete heavily with Ethereum.
I have been following you since I started on steemit and I would really appreciate it if you gave my new cryptocurrency app a look, it provides data for all 900+ cryptos on coinmarketcap.com, charts for those supported by Poloniex, and a customized cryptocurrency Twitter feed.
Please if you have the time check it out and let me know what you think here is the link: https://itunes.apple.com/us/app/cryptocap/id1257341716?ls=1&mt=8
A review or any feedback would be much appreciated!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Still undecided about Tezos
EOS looks much better IMHO
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
people talking about the end of crypto and we just had the biggest ICO, makes me LOL
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit