EOS breaks ICO record with $185 million, but what’s even scarier is that it will take a year for ICO to be completed

Block.One, a blockchain solutions company, has set a new ICO record – raising $185 million in 5 days.

This new era of fundraising technology, ICOs and crowdsales, is becoming mainstream, and evidence of this shift in trend is the performance of various ICO projects recently. Last month, Bancor surpassed the ICO record set by the now-defunct The DAO project last year with a scale of over $150 million. While many people are still discussing the success of Bancor, another decentralized platform, Block.One, has surpassed Bancor and set a new ICO record by raising over $185 million in five days.

Block.One is one of the companies that has recently launched an ICO. The company provides decentralized digital ledger solutions for enterprises. The company decided to take a different approach to its ICO. Unlike many projects that limit the duration of their ICO to a week or a month, Block.One's token sale will last for about a full year (341 days), and participants can join the ICO at any time and purchase the platform's EOS tokens.

The company has announced this new milestone in a recent press release. A well-known startup news outlet also quoted the company’s announcement,

“Block.one plans to develop the EOS.IO software to support distributed applications that will have the same look and feel as existing web-based applications, but with all the benefits of blockchain — such as transparency, security, process integrity, speed and lower transaction costs.”

As part of a long ICO, the company has set aside 1 billion EOS tokens, of which investors have already bought 20%. The main purpose of the 341-day crowdsale was to reduce the flash pump effect, i.e., the rapid increase in token prices, which is common in other ICO projects. However, the platform seems to have underestimated the enthusiasm of the market.

Current trends show that the demand for EOS tokens will not subside anytime soon. The success of the EOS token sale also brings the Block.One project closer to its goal of providing usable blockchain solutions for businesses of all sizes.

Meanwhile, the controversy surrounding the EOS token sale has never ceased since it was announced, and the one-year period alone is very bold. Before EOS token trading began, many people believed that the project would break even and would likely mark a calming of the recent frenzy of ICOs. These ICOs that have raised large amounts of money are indeed worrying, especially since most of these projects have not yet achieved any real results. Some believe that these ICOs increase the risk of underperformance in the long run.