coinedition.com
Youtube Channel Altcoin Daily posted a new video discussing the scheduled EVM launch by Layer 1 dApp platform, EOS. While the video states that many people would consider EOS a failure compared to what it could’ve been, the channel goes on about the platform’s 2023 comeback story.
Altcoin Daily explains that EOS was created to prioritize dApp performance via faster transactions and lower gas fees. Moreover, it is more programming language friendly allowing developers to build applications using C++, Java, and Python. The channel adds,
It [EOS] is a scalable version of Ethereum. Yet, they did sacrifice some decentralization.
The video also highlights that EOSIO held the largest-ever initial coin offering (ICO) with over $4 billion in funds by selling one billion EOS in a year-long sale. However, the platform didn’t live up to the hype that the company behind EOS, Block.one, had promised its users, according to Altcoin Daily.
After attending a conference with one of the new EOS leaders Rhett Pool, the YouTube channel reports that as per Pool, the EOS community had fired Block.one and that they “hate” the EOS creator Dan Larimer.
Pool admitted that Block.one had promised $1 billion in a venture capital fund before failing to deliver. He also said the platform is not a security since EOS settled with the US SEC.
However, Pool cited that a year and a half ago, the EOS community stopped the unstaking contract placed by Block.one where they were receiving EOS tokens to “supposedly” maintain the software, which was not being done.
After abolishing the unstaking, the EOS community established a Canadian foundation, which forked the software, renaming it to “Antelope.” Moreover, they upgraded it while removing 2600 bugs.
Additionally, EOS restored its original software developers working for Block.one, who are now working on restoring the software and its mission. Meanwhile, on April 14, EOS is upgrading to EVM compatibility, leaving it interoperable with Ethereum, mentioned Altcoin Daily in its video.