Bitcoin Investment Boomed: $160 million into the experimental company
A month earlier thousands of investors had plowed some $160 million into the experimental company. Their contributions were made in Ether, a year-antiquated digital currency (and challenger to Bitcoin) that they had exchanged for virtual tokens. The DAOs creators had meant the software to kill the will of its token holders, based regarding a bank account of their collectively computed votes.
The investors had been assured the child maintenance was safe behind they deposited it in the DAO. The network powering it was more safe than each and every one bank put together, Stephan Tual, one of the DAOs originators as expertly as a cofounder and the chief in force supervisor of Slock.it, had boasted during the projects funding campaigning up.
Now the biggest challenger to Bitcoin, the $10 billion cryptocurrency that mysteriously burst onto the scene less than a decade ago.