Investing.com - 2017 was a wild year for cryptocurrencies. The exponential rise of Bitcoin encouraged many entrepreneurs to try and raise funds through Initial Coin Offerings, or ICOs. In total, over 3.6 billion dollars where raised through ICOs in 2017.
Here are the top 5 biggest ICOs of 2017.
Number five: Status – $108 Million
Status is a mobile ttt. The idea is to create an operating system which turns a mobile phone into a secure client able to access the Ethereum ecosystem and apps from anywhere.
Number 4: Bancor - $153 Million
Bancor is a decentralized liquidity network that allows users to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, thus eliminating costly exchanges.
Number 3: EOS - $180 Million
EOS is a blockchain platform on which smart contracts and apps can run. EOS's founders aim to establish a blockchain with a legally binding constitution to create a common jurisdiction for disputes. EOS also aims to solve scalability issues encountered by the Ethereum blockchain.
Number 2: Tezos - $232 Million
Like EOS and Ethereum, Tezos aims to create a platform for smart contracts, but with changes in the governance method, coding language, consensus, and more. For example, Tezos proposes a new system in which users vote to implement changes on chain, instead of forking the way Ethereum does.
Number 1: Filecoin - $257 Million
FileCoin wants to create a decentralized storage network, where users can rent out unused storage space on their computer or devices, and get paid FileCoins in return. The development team uses the InterPlanetary File System, a new file sharing protocol, adding to the excitement of the project.