ImToken may not be one of the most popular wallets, but this multiwallet startup has raised $ 10 million in an ICO that just ended. The company, which claims to operate the largest Ethereum wallet, has 4 million active users and is ready to be a leader in coin storage.
The Chinese startup which originally supported just Bitcoin and Ethereum recently added EOS support ahead of more prominent coins. The CEO of the company, Ben He, said that the consideration was made based on the feedback they got from clients who needed a wallet capable of supporting the increasingly popular coin.
“Earlier we supported ETH20 tokens, which generated immense traction on ImToken, and ultimately we feel that the obligation to build our EOS DPOS wallet was based on our users’ feedback and what they’re looking for in a wallet right now. As a result, when EOS launched its MainNet, we wanted to provide support for these users since with imToken being the largest Ethereum wallet, there’s been a natural cross over with the growing interest in EOS.”
Ben He, who said that the company’s second largest market after China is South Korea stated that 24 percent of the trading volume on EOS is coming from the Asian country. According to him, the decision to support the digital currency was not a difficult one due customer demand and the fact that he foresees it as a coin with high prospects.
He said that the interest Chinese have in EOS is premised on the fact that perception of the coin is such that people believe it will gain demand and consequently, a surge in value. He is of the opinion that many who are technically savvy view EOS as a “technical breakthrough that will help advance the cause of blockchain” due to its scalability, through-put and on-chain performance.
The EOS platform has been involved in a few controversies stemming from an extensive ICO which critics dubbed “never ending” that finally ended last month. The platform’s launch also had issues with a bug which experts said could put exchanges at risk of hacks. As the issue was resolved, there arose another of governance which was entrusted to a foundation instead of the community.
Reacting to the controversies, Ben He said,
“EOS is a new technology, and although there are issues and drawbacks that have arisen as a result of its introduction and launch of its MainNet, it can be expected for new technology. At least in China, there are people who do see the potential in the technology and concept that EOS has introduced, so we are naturally observing the process and the outcome.”
The ImToken CEO said their emphasis would be on support for cryptocurrencies that are in demand and those that have “solid technology” behind them
. “Our plan is to offer on-chain governance tools, and other ecosystem tool kits that will support our users who are invested into the EOS ecosystem.”