Block.one Completes EOS ICO, Launches Mainnet Software

Investing.com - It's a new era for EOS, the fifth largest cryptocurrency by market capitalization.In quick succession, the currency's creator, Block.one, completed a huge initial coin offering and launched the currency's open-source mainnet software. Block.one raised a record $4 billion through its ICO, auctioning 900 million EOS tokens over the course of the last 12 months.Then, upon its completion, Block.one released its proprietary blockchain platform, beginning the migration of EOS tokens from the Ethereum platform. Like Ethereum, EOS is a decentralized, smart contract platform, but is seen as a potential challenger to the number two digital currency. The creators of EOS say it can handle hundreds of thousands of transactions a second without charging user fees, making it faster and cheaper than Ethereum. EOS, which has a market cap of $13.40 billion, hit a high of more than $21 in late April.