EOS (EOS): Project Review, Recent Developments, Future Events, Community

  • The EOS Network Foundation (ENF) has announced that the project has been renamed Antelope, forming a coalition with Telos, Wax, and UX Network.
  • The ENF also announced that Leap v3.1 will be the node software that implements the Antelope protocol.
  • Going forward, Antelope will build a network that supports inter-blockchain communication between all four blockchains.
  • The news of the rebrand sparked a major rally that saw EOS become the best-performing crypto, gaining 28% in a bearish market.

Project Review

The EOS Network is an open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience. As a 3rd generation Layer 1 blockchain, EOS leads the pack in high performance and low latency.

EOS was one of the most hyped crypto projects when it launched. At launch, Block.one, its then parent company, raised a record $4 billion in its initial coin offering (ICO) at the height of the ICO craze in 2017.

However, the hype fizzled out due to internal problems with its developer, Block.one. EOS is now on its way to a comeback, collaborating with three other projects and rebranding as Antelope.

Social Media: Website | Blog | Discord | Twitter | Antelope | Github | Blog | Telegram | Twitter 

Recent Developments

In mid-2021, Block.one ceased supporting EOS.io development. However, community members discharged Block.one and took control of the project. Unfortunately, the project has seen little progress ever since.

To reclaim its top position in the crypto space, Yves La Rose, the CEO of the EOS Network Foundation (ENF), on August 15, announced that it had put together a group of talented developers “EOSIO dream team,” to handle the EOS codes.

On August 17, the ENF announced that it is collaborating with Telos, Wax, and UX Network to combine its resources into a coalition of blockchains with a shared codebase. The ENF called the coalition Antelope.

According to the ENF, although the members serve unique markets, they will be related by a common framework, Antelope. The ENF also announced that Leap v3.1 will be the node software that implements the Antelope protocol.

Antelope is an open framework for building next-generation Web3 products and services. The coalition aims to carry the torch of open-source development for the whole ecosystem.

Price Updates

The news of the rebrand caused EOS, the native token of the EOSIO ecosystem, to rally in a bearish crypto market, becoming the top performer in the last week with gains of 28.2%.

EOS graph coinmarketcap crypto token

The 7-day price chart for EOS (EOS). Source: CoinMarketCap

The rally helped EOS hit a three-month high at a price of $1.89 before retracing to its current price of $1.67. Despite retracing, EOS is still the second best-performing crypto over the last month with gains of 48.5%.

EOS graph coinmarketcap crypto token

The 30-day price chart for EOS (EOS). Source: CoinMarketCap

EOS is now ranked as the 33rd largest cryptocurrency, with a market capitalization of $1.7 billion.

Future Events

Yves La Rose announced that the hard fork that will begin the rebranding process for EOS is scheduled to launch in September. 

Before the launch, La Rose said that the EOSIO dream team was working on fixing outstanding issues and adding new functionality to the EOS codes. The community should expect EVM compatibility and faster finality time on the EOS chain before the hard fork arrives.

Future developments will see Antelope launch trustless inter-blockchain communication between all Antelope-based blockchains, a robust suite of Secure Smart Contract Libraries, SDKs, and P2P Code Improvements, among other promised innovations.

According to the Antelope road map, the inter-blockchain communication is scheduled to launch in Q4 of 2022. However, in Q3, users should expect the EVM launch, an EVM product suite, a yield portal, and a scalability blue paper.

On the Flipside

  • A United States district court has rejected a $27.5 million settlement fine in the Block.one ICO case. 
  • The case was intended to resolve investors’ allegations that Block.one sold unregistered securities in the 2017 ICO of EOS.

Community

EOS belongs to a handful of crypto projects that can be said to be owned by the community. The coalition, Antelope, aims to be the most user-friendly, stable, and secure protocol for building new chains that are infinitely flexible and constantly upgradeable.

The coalition, in particular, has reinvigorated the belief of community members in the future of the project. Reacting to the news, crypto strategist @Trim_Bot wrote;

Another user, Chuck MacDonald, writes about the upcoming upgrade;

Announcing its support for the new EOS, 4BillionDAO wrote;

Why You Should Care

Since its launch, EOS has shown the potential of a top cryptocurrency project. Moving past its ties with Block.one and collaborating with other high-performance projects, EOS is gunning for the position it once held as a leading project in the space. The respective experience of the four members of the coalition may be enough to push Antelope into the spotlight.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).