Creator Of Javascript Able To Raise $35 Million In Half A Minute

Brendan Eich used to be the CEO of Mozilla but he decided to resign from the post after political backlash he received upon supporting California’s anti-gay marriage bill. He is also popularly known as the creator of Javascript and the very reason why many are now enrolling to Javascript training in Sydney. He is now on the scene with a lot more cash than before. He is starting a new browser which he called Brave. According to reports from TechCrunch, he was able to gather $35 million in less than 30 seconds after posting.

All of that was possible despite one’s disbelief and it’s all thanks to the initial coin offerings or what they also call as ICOs. This very much resembles an IPO or initial public offering and it happens when the private company sold their stock to the general public for the very first time. ICO is very much like a company fundraising but instead of using traditional cash as currency, cryptocurrency is used instead.

Brave in fat developed their own coin which they referred to as BAT or Basic Attention Token. The price basis is another cryptocurrency known as ETH or Ethereum. In conversion, every ETH is worth 6,400 BAT. The company then offered to the public for sale a maximum amount of 1.5 billion BAT. They are aiming to gather a total of 156,250 ETH which is equal to more than $35 million in real currency. The cryptocurrency was purchased and out of stock in less than 30 seconds which made history after that. The money will be added to $7 million that Eich was able to gather from investors.

With the cryptocurrency from Brave, the buyers will not have shares or any type of ownership but they are merely getting digital coupons which they can later on use for trade or sell to another person. Owning a BAT does not give them any rights for ownership. Majority of the people who bought BAT tokens did so in the hope that the new Brave browser will be successful much like Javascript which prompted people all over the world to enroll in courses such as Javascript training in Sydney.

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