When I look at the overwhelming list of new ICOs that came into existence throughout 2017 – It occurs to me (as it should any sensible investor) to ask ‘What is this?’ and then do the due-diligence & research necessary to decide whether to invest in it. And with EOS, ‘Why EOS’.
What does such-and-such a token actually do? Is the core technology of the token worth $400million+ USD or whatever the asking price?
And if I do think it has potential, then I usually choose to invest.
When I came across EOS, I immediately came across Dan Larimer, the blockchain developer, and discovered that he had 2 prior blockchains under his belt, BitShares and Steem.
I was shocked to discover that these blockchains weren’t future promises of development, but they were existing, operational and fully functional blockchains, built for purpose and brilliant in their execution.
Not only did I discover this, but I also found out that Dan Larimer built the entirety of Steem in a few months, practically by himself, and this mirrored my own feelings about how entrepreneurs, startups and businesses should establish themselves – Ideas should be bootstrapped into working products at minimal cost, and something tangible should exist before the fundraising begins, to establish whether the product is capable of existing, and if the team/resources are going to withstand a development cycle.
For me, Dan’s previous experience building functional blockchains, and the fact that these are operating successfully today and perform much better than other blockchains which grind to a halt when even asked to perform 1/100th of what Steemit can do – immediately jumped off the page to me as a great investment opportunity and one that I wanted to be involved in more actively.
I have seen some criticisms online pointing to Dan’s decision to leave his previous projects when they were operating successfully – but this seems a very unfair point to me. The entire point of decentralisation is that there is no ‘main man’ in charge, no single point of failure – Why should someone be obligated to dedicate their entire existence to a sole project for eternity, when their skills and ability could be better spent developing the next thing?
Those blockchains exist, serve their purpose and perform incredibly well – Why stifle an Entrepreneur’s’ innovative ability because you feel the projects requires them to stay (the blockchains in question have proved that they don’t require this) – and that is what Decentralisation is all about.
EOS is the next project of Dan Larimer – a framework for other people to build decentralised applications such as Steem, Bitshares, or whatever the mind can conceive and the spirit can drive into existence.
And this, is why I hold EOS.
My opinion does not constitute investment advice.
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