The EOS Network Foundation (ENF) said that the project’s name has been changed to Antelope and that Telos, Wax, and UX Network have come together to form a coalition.
In the ENF, it was also said that Antelope’s node software will be Leap v3.1.
In the future, Antelope will build a network that lets all four blockchains talk to each other.
When the name change was announced, it sent the market into a huge surge that made EOS the best-performing cryptocurrency, with a 28% gain.
Project Review
The EOS Network is an open-source blockchain technology with a focus on performance, adaptability, security, and developer experience. As a Layer 1 blockchain of the third generation, EOS leads the race in speed and latency.
When it started, EOS was one of the most anticipated crypto projects. In 2017, during the height of the initial coin offering (ICO) mania, Block.one, its then-parent firm, raised a record $4 billion in its initial coin offering (ICO).
The enthusiasm, however, dissipated owing to internal issues with its developers, Block.one. EOS is rebranding as Antelope and combining with three other projects to make a return.
Discord | Antelope | Github | Blog | Telegram | Twitter | Website | Blog | Twitter (NYSE: TWTR)
Recent Developments
Block.one halted sponsoring EOS.io development towards the midpoint of 2021. However, members of the community dismissed Block.one and assumed leadership of the initiative. Since then, no progress has been made on the project.
Yves La Rose, the CEO of the EOS Network Foundation (ENF), said on August 15 that it has assembled a group of brilliant engineers, the “EOSIO dream team,” to manage the EOS codes in order to restore its top position in the crypto industry.
The ENF stated on August 17 that it is cooperating with Telos, Wax, and UX Network to form a coalition of blockchains with a similar codebase. The ENF referred to the alliance as Antelope.
According to the ENF, despite the fact that the members serve distinct markets, they will be connected by a shared framework, Antelope. In the ENF, it was also said that Antelope’s node software will be Leap v3.1.
Antelope is an open framework for developing Web3 goods and services for the future generation. The group wants to spread the idea of developing open-source software to the whole ecosystem.
Price Updates
When the rebranding was announced, EOS, the native token of the EOSIO ecosystem, went up by 28.2% in a cryptocurrency market that was mostly down. It was the best performer of the week.
The EOS weekly price chart (EOS). CoinMarketCap is the source.
The rise pushed EOS’s price to a three-month high of $1.89 before it retraced to its current level of $1.67. Despite a retracement, EOS is still the second best-performing cryptocurrency over the last month, with a gain of 48.5%.
The thirty-day pricing graph for EOS (EOS). CoinMarketCap is the source.
With a market value of $1.7 billion, EOS is currently the 33rd biggest cryptocurrency by market capitalization.
Future Events
Yves La Rose said that the hard fork that would start the rebranding of EOS would happen in September.
La Rose stated that the EOSIO dream team was addressing existing bugs and adding additional features to the EOS codes prior to the launch. Before the hard fork, the community should expect the EVM to be compatible and the EOS chain to have a faster finality time.
Among other planned advancements, Antelope will deliver trustless inter-blockchain communication across all Antelope-based blockchains, a strong suite of secure smart contract libraries, SDKs, and P2P Code Improvements in the future.
According to the Antelope road map, the deployment of inter-blockchain communication is anticipated for the fourth quarter of 2022. However, consumers may anticipate the EVM launch, an EVM product suite, a yield site, and a scalability blue paper in the third quarter.
On the flip side
A United States district judge dismissed a $27.5 million settlement fine in the Block.one ICO case.
The goal of the lawsuit was to find out if investors were right when they said that Block.one sold unregistered securities during the EOS ICO in 2017.
community
EOS is one of the few crypto projects that can be said to be community-owned. Antelope promises to be the easiest, most reliable, and safest way to build new chains that can be changed in any way and are always getting better.
The collaboration, in particular, has revitalised community members’ faith in the project’s future. In response to the news, the cryptocurrency analyst @Trim Bot wrote:
More and more individuals are becoming aware that $EOS’s return is near.
# TheNewEOS—TrimBot (@Trim Bot) on August 21, 2022 https://t.co/rZ9nNQP6qj
Chuck MacDonald, another user, comments on the planned change.
The EOS roadmap is the most interesting of all cryptocurrencies. It has been entirely eclipsed for the past two years by the bull, and now the moment has come. “The New EOS” cannot be stopped. All of the outstanding # opensource work done on other chains will have a permanent home on # EOS.
— Chuck MacDonald (@IgnoreRonPaul, 16 August 2022)
4BillionDAO has expressed its support for the new EOS.
excited by the achievement of this milestone by $EOS. # TheNewEOS is no longer affiliated with @B1. 4Billion Dao will devote all of its resources to combating @B1 and returning funds to the EOS. Visit the official website for 4Billion Dao and join our community. https://t.co/nyKSDjDQxf https://t.co/THa2gV5iFx
— 4BillionDAO (@4BillionDAO) on August 17, 2022
Why Should You Care?
Since its inception, EOS has demonstrated the potential of a leading cryptocurrency initiative. By severing links with Block.one and partnering with other high-performance projects, EOS aims to reclaim its former status as the top project in its field. The combined knowledge of the four alliance members could be enough to put Antelope on the map.
