EOS Network Foundation CEO Yves La Rose Comments On Antelope Rebrand

The EOS ecosystem is undergoing some significant changes. Ever since Block.One was ousted, and the community took the reins; everyone worked hard to take the project to a new level. EOSIO will rebrand into Antelope and finalize the move away from Block.One. A Troublesome Relation With Block.One There has been tremendous excitement regarding EOS and […]
Bitcoinist
Posted by Bitcoinist September 1, 2022 3 Mins Read
The EOS ecosystem is undergoing some significant changes. Ever since Block.One was ousted, and the community took the reins; everyone worked hard to take the project to a new level. EOSIO will rebrand into Antelope and finalize the move away from Block.One. A Troublesome Relation With Block.One There has been tremendous excitement regarding EOS and […]

The EOS ecosystem is undergoing some significant changes. Ever since Block.One was ousted, and the community took the reins; everyone worked hard to take the project to a new level. EOSIO will rebrand into Antelope and finalize the move away from Block.One.

A Troublesome Relation With Block.One

There has been tremendous excitement regarding EOS and its future direction from day one. Block.One, the company behind EOSIO, indicated they had a plan to develop one of the first robust proof-of-stake blockchains. In an era where proof-of-work networks can cause harm to the climate, more efficient solutions are in high demand. Proof-of-stake can provide a suitable alternative without compromising network security.

Despite the enthusiasm surrounding EOSIO and its vision for this ecosystem, things never went according to plan. In fact, Block.One seemed to take a slow approach to development without committing too many resources to achieve goals. Of course, a slow and steady approach can be viable in any blockchain environment, but people have high expectations when teams make bold initial claims.

Unfortunately, that approach by Block.One created a cascading effect hampering the growth of EOSIO and the EOS network. There isn’t much other developers can do without proper infrastructure supporting new ideas and innovations. Ultimately, the community got fed up with the situation and took over control of the network. Moreover, the community effectively “fired” Block.One – still a multi-billion dollar corporation – and ousted them altogether. Legal action may still be taken against the company, though.

 

 

EOS Network Foundation CEO Yves La Rose recently commented on how this takeover occurred. In a Twitter post, he confirms how Block.One raised $4.1 billion, yet most of that money was never used to build the EOS ecosystem. Moreover, Block.One caused the user base to dwindle, continued to prevent more DApps from hitting the network, and saw key developers leave the network. Thankfully, all of that is now in the past, and EOS will enter a new era.

From EOSIO to Antelope

As the EOS network is now free from Block.One, a new problem arises: who will maintain and improve the code? A community takeover is always interesting, but someone needs to take charge. Moreover, the EOSIO IP was in the hands of a third party, which would pose another problem. The obvious solution is a hard fork and full rebrand to cast off the shackles of being associated with Block.One and EOSIO. The hard fork will go into effect on September 21, 2022.

All of the code created to date is viable for all EOSIO chains, including EOS. Furthermore, through a coordinated effort by the EOS Network Foundation, all of these chains – which used to operate in siloed environments – have become a united front. That includes networks like Wax, Telos, UX Network, etc. The new coalition will yield cost savings, better distribution of human resources, and a growing quality talent pool.

Moreover, the unified effort will signify a rebrand from EOSIO to Antelope. Under the new banner, Antelope becomes the community-run blockchain protocol and signifies a crucial hard fork. It is worth noting Antelope will replace the placeholder brand “Mandel”, which was part of the EOS Network Foundation’s roadmap for several months. The overall plans and upgrades will still go ahead, but the Antelope brand will be the one used moving forward.

Under the hood, Antelope will be an open framework blockchain with Delegated proof-of-stake consensus rules. In addition, there is an Antelope Coalition that works hard on requesting proposals to improve EOS and build new applications. Furthermore, the new roadmap will offer some exciting developments that aim to restore EOS to its former glory.

A Solid Priority Line-Up

Antelope will bring many improvements to all networks built on the EOSIO framework. These primary points of focus stand out:

  • Faster Finality
  • Wallet SDKs
  • Compatibility with the Ethereum Virtual Machine (EVM)
  • Implementing the Inter-Blockchain Communication protocol (IBC) used by the Cosmos ecosystem and its internet of blockchains.
  • The addition of automated security auditing tools

All of these developments will bring a breath of fresh air to the EOS ecosystem and all networks under the Antelope Coalition banner. Moreover, now that the community has a bigger say in these matters, the ecosystem can embrace decentralization and open-source code once again. There is also the guidance of the EOS Network Foundation to steer this ship in the right direction.

 

 

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