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Blockchain 3.0 pioneer concludes initial coin offering within 20 minutes with 53,206 participants from 170 countries
SEATTLE–(BUSINESS WIRE)–February 4, 2018–
With momentum building from a successful Private Sale that netted more than one million Ethereum (ETH) from over 5,000 individuals, ArcBlock, the pioneer in Blockchain 3.0 technology, announces that it has reached its total hard cap of 12,500 ETH and six million CyberMiles Tokens (CMT) in just 19 minutes.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180204005070/en/
ArcBlock I.C.O. Update
Registration for the Public Sale portion of ArcBlock’s I.C.O., scheduled to commence Feb. 3, attracted more than 25,000 Know Your Customer applications and over 45,000 signups on the first day alone, ultimately reaching a record-setting 100,837 K.Y.C. applications and 147,204 signups in only six days. The demand was so strong that ArcBlock had to end its registration period seven days prior to the originally scheduled end date of Jan. 28.
The bullish sales were driven by 53,206 people participating, ranking ArcBlock’s public sale first compared to other successful I.C.O.s. To ensure general participation, ArcBlock decided to reduce individual cap to three ETHs and 7,500 CMT. The gas limit, meanwhile, was adjusted to 60 gwei, 200,000 for both ETH and CMT to ensure further a smooth-sailing public sale.
“This outcome owes its success to ArcBlock’s community and supporters from around the world,” Robert Mao, C.E.O. of ArcBlock, said. “The process of our token sale event is a reflection of a shared vision toward decentralization, something the ArcBlock team now looks forward to carrying out as we build our amazing platform.”
Assisted by an experienced team of advisors (including notably Salman Dhanani, Ding Lei, Justin Tomboulian, and Dr. Shoucheng Zhang) as well as investors and partners such as Bibox, CyberMiles, and EtherDelta, ArcBlock has outlined a 2018 roadmap and token distribution schedule as part of its overall development plan.
- Select the first group of founding clients that will be powered by ArcBlock
- Distribute all tokens sold (token distribution: hardcap of 12,500 ETH and six million CMT distributed to ETH-wallet provided upon registration) within four weeks after the end of the Public Sale
- List ABT on the exchanges (tentatively February), followed by an official announcement
- Launch the first decentralized consumer application (“dapp”) built on ArcBlock with development partners
- Implement Hyperledger Adaptor with Open Chain Access Protocol, then launch the tokens in exchanges
- Publicly release first candidate for Open Chain Access Protocol (RC1)
- Implement Open Chain Access Protocol and its reference on Ethereum and Hyperledger
- Officially release Open Chain Access Protocol and adaptors for Ethereum and Hyperledger
- Ready the full ArcBlock platform for clients and partners, then open the platform to the general public
“The ArcBlock team is excited to demonstrate the power of decentralization by launching dapps with our partners, while rewarding ArcBlock’s community and supporters by increasing the value of our token economy,” Robert Mao said. “All of us are very much looking forward to showing our progress in action and cultivating a vibrant future together.”
ArcBlock is a comprehensive solution that combines blockchain technology with cloud computing, versus a standalone software package or set of A.P.I.s. The brain child of Robert Mao, a technology innovator, entrepreneur and researcher formerly with Microsoft Research, ArcBlock is the world’s first blockchain ecosystem for building and deploying decentralized applications. Together with Flavien Charlon, the creator of Colored Coins, Open Assets Protocol, and Openchain, Mao and the ArcBlock team aims to seamlessly connect between the existing system and services, and blockchain networks, throughout dynamic industries. Learn more at arcblock.io and follow ArcBlock on Twitter and Facebook.