It is very difficult to find a more contentious digital currency than EOS – a digital currency whose ICO raised a groundbreaking $4 billion. Even John Oliver – HBO Comedian – spoke ill about the EOS project – a project aimed at creating a distributed ledger platform to power software binding the underlying technology of Bitcoin.
Yet, that has not stopped the digital currency hedge fund – Multicoin Capital that is based in Austin and backed by Andreessen Horowitz’s Marc Andreessen, Union Square Ventures, Chris Dixon, as well as other VCs, from believing and sticking around EOS.
What the Co-Founder of Multicoin Capital Said about EOS
The co-founder of Multicoin Capital – Kyle Samani said his firm is holding its position behind the digital currency. He said the Mainnet launch of EOS didn’t go as expected, but all things considered, the launch is not as bad as people say it is.
He also acknowledged the recent hitches that have delayed and plagued the launch, from code errors that shut down the blockchain temporarily to strife amongst the developers of the project. He said he knows that the project didn’t meet the expectation of many, and there were some mistakes. But those mistakes don’t actually matter on a long-term time horizon, as they are just rounding errors.
Samani Compares EOS Mainnet Launch to that of Ethereum
Samani said the issues associated with the launch of the EOS Mainnet is similar to what Ethereum faced when it launched its blockchain network a couple years ago. Today the platform of Ethereum is one of the most sought after and it is currently the second most valuable digital currency in the world based on market cap.
Samani Is Bearish on Litecoin (LTC) and Ripple (XRP)
Samani said that from his own point of view, Litecoin (LTC) does not have any reason to exist. He said the coin is just hanging around with no tangible development or investment thesis. On the other hand, his beef with XRP emanated from his belief that Ripple (XRP) is a security. He said the decentralization of the network is what makes it a security.