Is EOS Making a Comeback? Insider Insights on EVM Launch & Community Overhaul
In a video, Altcoin Daily recently discussed the forthcoming EVM launch of EOS, a Layer 1 dApp platform. Despite conceding that some individuals see EOS as a failure, the channel emphasizes the platform’s possible return in 2023.
EOS promotes dApp performance, according to Altcoin Daily, with speedier transactions and cheaper gas prices. It also supports additional programming languages, including C++, Java, and Python. Although it is a scalable version of Ethereum, some decentralization is sacrificed.
EOS disappoints expectations
According to Altcoin Daily, EOSIO launched the most successful initial coin offering (ICO) ever, generating over $4 billion by selling one billion EOS tokens over a year. On the other hand, as the video said, the platform did not live up to the expectations set by Block.one, the firm that is responsible for EOS.
According to a report by Altcoin Daily on a conference that was attended by one of the new leaders of EOS, Rhett Pool, the EOS community is said to have sacked Block.one and has a poor opinion of the platform’s inventor, Dan Larimer. Pool was in attendance at the conference.
Pool acknowledged that Block.one failed to deliver its $1 billion venture capital fund promise. Additionally, he stated that EOS is not considered a security as it settled with the US Securities and Exchange Commission (SEC).
Pool pointed out that 18 months ago, the EOS community stopped the unstaking contract set up by Block.one, which was receiving EOS tokens to maintain the software but allegedly not doing so.
EOS community overhauls software
Following the termination of the unstaking contract, the EOS community founded a Canadian organization that forked the software, rebranding it as “Antelope.” They also improved the software while eliminating 2600 glitches.
Altcoin Daily reported that EOS had restored its original software developers, who are now working to restore the software and its mission, in addition to upgrading to EVM compatibility on April 14, which will make it interoperable with Ethereum.
