ICO market exceeded $1 000 000 000 in 2017

This year's ICO volume has already exceeded 2016's volume in 10 times
11 July 2017   3511
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

According to Smith & Crown, a company specializing in crypto assets, this year start-ups attracted more than $ 1 billion through the ICO, which is ten times more than for the entire 2016 year. The Wall Street Journal reports it.

 Smith+crown rate
Smith & Crown ICOs graph

Bitcoin

First decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

The agiotage around the initial placements of coins greatly contributed to the sharp growth of the cryptocurrency Bitcoin and Ethereum, which were actively used to buy tokens of new block-startups conducting ICO. So, in the first half of 2017, bitcoin rose in price by 160%, and Ether - by 3,350%.

The middle of this year was marked by two large crowdsdale. So, to date, the project Tezos from the startup Dynamic Ledger Solutions Inc. And EOS from the company block.one in aggregate collected more than $ 300 million.

According to the British company Dealogic, the amounts collected by both start-ups are comparable to the average value of funds raised through traditional IPOs. So, in 2016 the average amount attracted by US joint-stock companies was $ 219 million.

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.