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EOS was once among the top ten cryptocurrencies by market cap. Now it stands in the top 50. The shocks in its journey have been some of the most talked about in the industry.
But La Rose of the EOS Network Foundation believes that the early years of EOS taught him a lot and that the blockchain project is just getting started, all thanks to the community.
EOS Network’s Bumpy Ride
EOS – which launched with great fanfare, an active community and robust technology – has faced many obstacles along the way over the past five years. In what was being called the largest ICO in history, EOS managed to raise over $4 billion in funding in 2018.
However, the project failed to live up to its hype. Subsequent congestion issues, as well as centralization concerns by researchers, triggered a developer exodus from the EOS ecosystem. Development dried up, leaving the community feeling neglected and cheated.
As a result, the community-formed EOS Network Foundation (ENF) – a non-profit organization – took up the baton to revive what was left of its founding company, Block.one.
post ENF
Since ENF took over, EOS announced the beta launch of its Ethereum Virtual Machine (EVM) mainnet, designed to improve interoperability with the Ethereum blockchain. The open-source blockchain platform has also entered into a strategic partnership with market maker and investment firm DWF Labs through a $60 million investment deal to accelerate the growth and development of the ecosystem.
Later, the foundation pledged an amount of $20 million to developers wanting to create DeFi as well as GameFi projects for users on EOS. ENF also partnered with industry giants including Binance and Messari to revitalize the network.
In the latest press release shared with crypto potatoENF founder and CEO Yves La Rose celebrated the 5th anniversary of the launch and said he was inspired by the “resilience” of the EOS community.
“We have faced great uncertainty in defending our network against corporate greed. Today, we have emerged as champions for the ethos of free and open-source software, not only for ourselves, but for the entire Web3 space as a whole. Paving the way for innovation.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
[ad_1]
EOS was once among the top ten cryptocurrencies by market cap. Now it stands in the top 50. The shocks in its journey have been some of the most talked about in the industry.
But La Rose of the EOS Network Foundation believes that the early years of EOS taught him a lot and that the blockchain project is just getting started, all thanks to the community.
EOS Network’s Bumpy Ride
EOS – which launched with great fanfare, an active community and robust technology – has faced many obstacles along the way over the past five years. In what was being called the largest ICO in history, EOS managed to raise over $4 billion in funding in 2018.
However, the project failed to live up to its hype. Subsequent congestion issues, as well as centralization concerns by researchers, triggered a developer exodus from the EOS ecosystem. Development dried up, leaving the community feeling neglected and cheated.
As a result, the community-formed EOS Network Foundation (ENF) – a non-profit organization – took up the baton to revive what was left of its founding company, Block.one.
post ENF
Since ENF took over, EOS announced the beta launch of its Ethereum Virtual Machine (EVM) mainnet, designed to improve interoperability with the Ethereum blockchain. The open-source blockchain platform has also entered into a strategic partnership with market maker and investment firm DWF Labs through a $60 million investment deal to accelerate the growth and development of the ecosystem.
Later, the foundation pledged an amount of $20 million to developers wanting to create DeFi as well as GameFi projects for users on EOS. ENF also partnered with industry giants including Binance and Messari to revitalize the network.
In the latest press release shared with crypto potatoENF founder and CEO Yves La Rose celebrated the 5th anniversary of the launch and said he was inspired by the “resilience” of the EOS community.
“We have faced great uncertainty in defending our network against corporate greed. Today, we have emerged as champions for the ethos of free and open-source software, not only for ourselves, but for the entire Web3 space as a whole. Paving the way for innovation.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
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