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Eos, the once famous blockchain tangled in prolonged conflict with the developer.one block, is now on its own and make an offer for web3 relevance.
One time at the four-billion-dollar center, eos underwent a major makeover, and since the breaking of links with block.one was managed by the non-profit organisation eos network foundation dao headed by the long-time developer yves la rose.
As acknowledged by La Rose himself, it’s been a year since EOS “was on life support, left for dead.” But over the past 12 months, this sleepy giant has finally woken up, thanks to a series of positive developments that position him for fast growth in 2023.
Don’t Call It a Comeback
The EOS narrative was toxic for a number of years, a consequence of its nasty divorce from Block.one. A blow-by-blow account of the head-scratching imbroglio was provided by Wired in an that went viral last May. But EOS, it's fair to say, has come out on the other side, with a renewed emphasis on the construction of impactful products that web3 users want and need.
Maybe EOS missed a lucrative boom challenge. He even has his own vc, eos network ventures (env), which manages a war chest of 100 million dollars to invest in web3 protocols.
Perhaps the greatest sign that eos has reopened for business concerns the virtual machine eos ethereum (evm) that the newly teased rose was "at the angle." as the backbone of the ultimate ethereum challenge network, evm provides a running environment for developers to create dapps and other protocols, the execution of intelligent contracts on which all products depend. It is therefore not surprising that many chains of blocks, from the avalanche to the solana through the polygon and the cardano, have invested massively to reach compatibility.
According to La Rose, however, the upcoming EOS EVM is “by far the most performant,” capable of processing over 800 swaps per second – four times faster than Solana. The foundation of the eos network is ready to deal with evm as a public good, launch a rpc node to ensure availability and provide funding for developers wanting to build on the platform. In addition, the evm will be fed with the $eos chip. In addition, the EVM will be populated with the $EOS chip.
It is anticipated that the Mainline will be commissioned in March.
Cross-blockchain communication (ibc) is another significant coup for eos. Considered by many to be the Holy Grail of blockchain, IBC lets two separate blockchains communicate with each other, sharing data about their individual ledgers and thus permitting the transfer of tokens from one to the other. If achieved, ibc could make the unstable bridges currently used by traders to transport chips through outdated blockchain in one night. Something likely to be applauded given the four most expensive challenges of 2022 were the deck exploits (ronin, the smart chain nbb bridge, vortex, nomad).
Several blockchain platforms aggressively pursue ibs, including cosmos and polkadot, and eos does the same through the upcoming launch ibc antelope on the eos main network. Antelope, a community-led protocol that EOS invested $10m in last year, is an open framework for building user-friendly web3 products and services. Antelope, a community protocol in which EOS invested $10 million last year, is an open framework for the development of easy-to-use Web 3 products and services.
Antelope facilitated the first-ever IBC wrap token transfer between EOS and the UX Network earlier this month, with La Rose remarking that the “EOS IBC era is upon us.” Antelope facilitated the very first IBC wrapper token transfer between EOS and the UX network earlier this month, with La Rose pointing out that "the EOS IBC era is just around the corner." Whereas the ibc antelope still uses a bridge, it occurs at the base layer of the chain instead of through a third party.
There is a certain romance in the idea that EOS could return from the brink and actually shake off the controversy of ICO, in the process becoming a go-to chain for DeFi users. But it wants to go much further, with the ambitious goal of encouraging mass adoption and positioning its technology at the cutting edge of innovation. But she wants to go much further, setting an ambitious goal to foster mass adoption and position her technology at the cutting edge of innovation.
