If you’ve been keeping up to date with recent crypto-trends then you may have noticed that many “Blockchain 3.0” ICOs(initial coin offerings) have popped up.
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Among these is a new competitor in the space that I think may be able to dethrone Ethereum and eventually compete with EOS. Although EOS has one of the smartest brains in crypto behind them and the creator of STEEM, I don’t think we should be ignoring this new contender.
ArcBlock has recently started their private sale for their ICO. They are looking to raise $45M USD. When it comes to ICOs I only choose to invest into the cheaper and less well known ones, because often times the ones that are overhyped and have huge fund raising goals and bring low returns.
Let’s take a look at another platform coin that recently had its ICO: DragonChain. DragonChain came onto the market just a few months ago after its successful ICO. Similar to ArcBlock, Dragonchain looks to be a platform for other DAPPS to build upon their blockchain architecture. With a miniscule ICO of just $15M USD raised, the platform has now grown its total market cap to close to $1 billion dollars. This is a 6600% increase, so if you were to have invested $1000 into the DragonChain ICO, you would have made $66000, but here’s the catch – DragonChain is a Blockchain 2.0 project, it doesn’t intend to pioneer and take this industry forward. It instead intends to compete with other platforms such as NEO, QTUM and Ethereum.
ArcBlock intends to bring something new to space. It wants to take the entire blockchain industry to the next level. EOS is also looking to do that and thats why EOS currently has a market cap of $7.6Billion dollars. If ArcBlock were to compete with EOS and be able to produce a product that is ahead of EOS then we could be looking at a similar valuation.
So what kind of returns would we expect for ArcBlock if it to reach where EOS is now? Well we would be looking at a 168x increase. You heard correct, that’s 16800%. So if you were to place $1000 into the ArcBlock ICO, you could be looking at $168000, but wait – how long did it take EOS to reach where it’s currently at? It took EOS 6 months to go from a $350M market cap to the now close to $8 billion. The returns in EOS were not as great as what we could see with ArcBlock as EOS started at a much larger market capitalization.
I have seen many blockchain projects come and go, but if you are able to get into the ArcBlock ICO, I would highly recommend you attempt to do so. I expect it to sell out in minutes and the returns from this could be huge.
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