The Tezos fundraiser came to a close yesterday raising an incredible $232 million. Over the two week uncapped fundraiser exactly 65,637 Bitcoins and 361,122 Ether was invested. This record-breaking sum will certainly draw attention to the state of the ICO market calling into question whether a more structured framework is needed.
The ICO, which began on July 1 and lasted until the bitcoin network had processed 2,000 transaction blocks, collected a total of 65,630 BTC and 361,122 ETH. The Tezos ICO attracted high-profile investors including billionaire venture capitalist Tim Draper.
The first version of Tezo's is yet to launch despite this it has garnered interest from some of the industries, major investors. Tezos describes itself as a digital currency with smart contract and self-governance capabilities. The fundraiser comes at a time when bitcoin is suffering due to its governance structure. Which has caused years of infighting over which scaling solution to adopt. Ethereum has also had its troubles regarding scalability during the recent ICO boom. This has set the scene for Tezos and it will be interesting to see how it will stack up against the two dominant cryptocurrencies.
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