Block One getting billions to make the next generation of the internet

Block.one is an open source software publisher specializing in high performance blockchain technologies. Its first project, EOSIO, a blockchain protocol designed to enable secure data transfer and high performance decentralized applications, has received global recognition as the first performant blockchain platform for developers, following its introduction in May 2017.

The Wall Street Journal reported Block One is on track to raise more than $4 billion through a yearlong sale of digital tokens—the largest fundraising of its kind. This is bigger than the $1.7 billion Telegram is raising.

Block.one raised the money by auctioning off 2 million of their EOS tokens every 23 hours at an accepted high bid, totaling 900 million tokens sold since the auctions began on June 26, 2017.

Despite worldwide regulation issues, ICOs continue to draw massive amounts of investor money since the meteoric rise of the cryptocurrency market in 2017. So far in 2018 ICO’s represent $7.15 billion invested not including the Block.one total according to The Wall Street Journal.

Block Ine plans to launch their platform for hosting decentralized web applications in June but will leave their software open source for developers to build out the platform via upgrades to the public chain and decentralized applications (dApps). Block.one has invested millions of dollars into joint ventures with Finlab AG and other private blockchain investors to help accelerate the development of the EOSIO ecosystem. Additionally, the company has pledged to invest more than $1 billion in startups building on EOS.

EOS tokens are up to $12.41. EOS tokens have an $11 billion market cap.

* Block One may be able to process millions of transactions per second with no transaction fees

The EOSIO engineering team is led by Dan Larimer, the inventor of the revolutionary Delegated Proof of Stake (DPOS) consensus mechanism. DPOS processes the majority of blockchain transactions globally and will power the EOSIO software launching in June 2018.

In December 2017, Block.one committed to investing US$1 billion to launch EOS VC, a vehicle designed to invest in businesses leveraging the transformative capabilities of the EOSIO software. EOS VC has announced deployment of capital through partnerships, including with: Michael Novogratz’s Galaxy Digital, Derek Rundell of Eric Schmidt’s TomorrowVentures, Finlab AG (ETR:A7A), and Michael Cao’s EOS Global.

Block.one is Cayman organization employing over 200 people globally, with offices in Hong Kong, California, and Virginia.

The EOS.IO Technical White Paper v2 March 16, 2018 is here.

The EOS.IO software introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved by creating an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication, and the scheduling of applications across many of CPU cores or clusters. The resulting technology is a blockchain architecture that may ultimately scale to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment and maintenance of decentralized applications, in the context of a governed blockchain.

The software is part of a holistic blueprint for a globally scalable blockchain society in which decentralized applications can be easily deployed and governed.

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