• EOS network has recently celebrated its fifth anniversary
• Despite a few setbacks, the community and EOS Network Foundation have worked together to revive the project
• The blockchain platform announced the beta launch of its Ethereum Virtual Machine (EVM) mainnet, designed to improve interoperability with the Ethereum Blockchain.
EOS 5th Anniversary
The EOS network has turned five. Despite facing a few bumps in the road over its five year lifespan, EOS still stands in the top 50 cryptocurrencies by market cap due to its resilient community and EOS Network Foundation.
In what was touted to be one of the biggest ICOs in history, EOS managed to raise over $4 billion in funds back in 2018. Unfortunately, it failed to live up to expectations and congestion issues as well as centralization concerns lead to developers leaving the ecosystem. This left members of the community feeling abandoned.
EOS Network Foundation
In order to revive what was left of it, a not-for-profit organization known as ENF took over and got rid of Block.one – which had initially founded it. After ENF took control, numerous improvements were made such as launching an Ethereum Virtual Machine (EVM) mainnet designed for better interoperability with Ethereum Blockchain.
EOS also partnered with DWF L Capital Solutions for expanding liquidity solutions on DeFi platforms like Uniswap and Sushiswap for enabling users access DeFi products from their wallets or through transactions on blockchains other than Ethereum’s. With this partnership, users can now use a wide range of tokens across different blockchain networks within their wallet or transfers without having any need for additional steps or transfers between chains/platforms etc..
The EOS network has been able to survive due largely in part thanks to its supportive community that continues to stand behind it even after five years since launch. La Rose from ENF believes that formative years of EOS have taught them a lot and that they are just getting started all thanks to their passionate supporters who remain loyal despite any setbacks faced by the project over time.