EOS currently has only two options: it's either a SCAM, or it's poised for significant growth. If, for some reason, it can rise to the upper boundary of its current trend channel, that growth could amount to 1800%, potentially bringing EOS back into the top 10 cryptocurrencies. Only time will tell how feasible this is, but currently, EOS appears to be a highly undervalued product. EOS is trading at its autumn 2017 price levels. Its current market capitalization is $800 million, which is more than five times less than the funds raised during its ICO.
There's also a possibility that Ethereum might face some challenges, which could bring EOS back into focus. In Japan, the launch of stablecoins backed by the Japanese yen on the EOS EVM network has been announced. Following all the updates in 2023, EOS's blockchain fundamentally looks much more promising than it did in 2022.
Key aspects of this update include:
1. Ethereum Virtual Machine (EVM) in EOS: The EVM is an environment where Ethereum accounts and smart contracts operate. It acts as a virtual computer used by developers to create decentralized applications (dApps). The implementation of EVM in EOS will enable developers to build dApps and other decentralized finance (DeFi) applications on the EOS blockchain.
2. Benefits of the New Mechanism: According to Yves La Rose, CEO of EOS Network Foundation, the new consensus mechanism will combine EOS's performance with Ethereum's convenience, offering Solidity developers the opportunity to work on a much faster platform. EOS EVM will support over 800 exchange operations per second, which is three times faster than Solana and Binance Coin (BNB), and 25 times faster than Avalanche (AVAX).
3. Strategic Significance: The consensus mechanism update and EVM implementation are part of an overall strategy for the revival and growth of EOS. It also highlights EOS's ambition to attract more Solidity developers and users, improving compatibility with Ethereum and thereby expanding its potential both technically and from a business perspective.
This update could significantly impact the EOS ecosystem, enhancing its attractiveness to dApp developers and contributing to the growth of the total value locked in DeFi applications on EOS.
EOS Network Foundation (ENF) has announced a significant consensus update, Antelope Leap 5.0, scheduled for the fourth quarter of 2023. This update represents the second major improvement in the last eighteen months and includes several innovative features:
Instant Finality: This feature improves the transaction finalization time, crucial for providing a Web3 user experience comparable to Web2. It includes the implementation of aggregated BLS signatures to support the HotStuff consensus algorithm, allowing the combination of multiple signatures and public keys into a single signature and verifying it as a single operation. This significantly improves scalability and transaction finalization time, with most reaching final status within a few seconds.
HotStuff Consensus Algorithm: An open technology developed by VMware in 2018 and later chosen for use by Facebook's Libra initiative, and subsequently by projects like Aptos and SUI. HotStuff significantly expands the capabilities of EOS and all Antelope chains. Introducing aggregated BLS signatures in HotStuff opens the door to features like confidential transactions and additional privacy mechanisms, such as the use of private addresses instead of accounts.
Change in Consensus Mechanism: Leap 5.0 offers the network the opportunity to replace DPoS (Delegated Proof of Stake) with an alternative consensus mechanism, representing a significant shift from EOS Network's original vision to a truly community-governed project. This new mechanism could support greater decentralization and provide improved network security, as well as increased transparency in the transaction validation process. The transition to a new consensus mechanism is expected to enhance network efficiency and make it more adaptable to the changing demands of the cryptocurrency market.
Strengthening Community Role: The Leap 5.0 update also implies increased community participation in network governance. This could include voting on key governance issues, resource allocation, and decisions regarding future network updates. This approach is aimed at increasing accountability and involvement of community members in the EOS network development process.
Technological Improvements: The Leap 5.0 update is expected to bring significant technological enhancements to EOS infrastructure. This may include optimizing transaction speed, improving scalability, and increasing resilience to network attacks. New features that simplify EOS integration with other blockchains and technological platforms are also possible.
DApp Ecosystem Enhancement: Leap 5.0 may also focus on improving conditions for decentralized application (DApp) developers. This could include simplifying the development process, enhancing application security, and providing additional tools for creating more efficient and functional DApps on the EOS platform.
It's important to note that these additions are hypothetical and may not accurately reflect the actual changes or plans for the EOS network update, but the update is indeed significant and long-awaited.
There's also a possibility that Ethereum might face some challenges, which could bring EOS back into focus. In Japan, the launch of stablecoins backed by the Japanese yen on the EOS EVM network has been announced. Following all the updates in 2023, EOS's blockchain fundamentally looks much more promising than it did in 2022.
Key aspects of this update include:
1. Ethereum Virtual Machine (EVM) in EOS: The EVM is an environment where Ethereum accounts and smart contracts operate. It acts as a virtual computer used by developers to create decentralized applications (dApps). The implementation of EVM in EOS will enable developers to build dApps and other decentralized finance (DeFi) applications on the EOS blockchain.
2. Benefits of the New Mechanism: According to Yves La Rose, CEO of EOS Network Foundation, the new consensus mechanism will combine EOS's performance with Ethereum's convenience, offering Solidity developers the opportunity to work on a much faster platform. EOS EVM will support over 800 exchange operations per second, which is three times faster than Solana and Binance Coin (BNB), and 25 times faster than Avalanche (AVAX).
3. Strategic Significance: The consensus mechanism update and EVM implementation are part of an overall strategy for the revival and growth of EOS. It also highlights EOS's ambition to attract more Solidity developers and users, improving compatibility with Ethereum and thereby expanding its potential both technically and from a business perspective.
This update could significantly impact the EOS ecosystem, enhancing its attractiveness to dApp developers and contributing to the growth of the total value locked in DeFi applications on EOS.
EOS Network Foundation (ENF) has announced a significant consensus update, Antelope Leap 5.0, scheduled for the fourth quarter of 2023. This update represents the second major improvement in the last eighteen months and includes several innovative features:
Instant Finality: This feature improves the transaction finalization time, crucial for providing a Web3 user experience comparable to Web2. It includes the implementation of aggregated BLS signatures to support the HotStuff consensus algorithm, allowing the combination of multiple signatures and public keys into a single signature and verifying it as a single operation. This significantly improves scalability and transaction finalization time, with most reaching final status within a few seconds.
HotStuff Consensus Algorithm: An open technology developed by VMware in 2018 and later chosen for use by Facebook's Libra initiative, and subsequently by projects like Aptos and SUI. HotStuff significantly expands the capabilities of EOS and all Antelope chains. Introducing aggregated BLS signatures in HotStuff opens the door to features like confidential transactions and additional privacy mechanisms, such as the use of private addresses instead of accounts.
Change in Consensus Mechanism: Leap 5.0 offers the network the opportunity to replace DPoS (Delegated Proof of Stake) with an alternative consensus mechanism, representing a significant shift from EOS Network's original vision to a truly community-governed project. This new mechanism could support greater decentralization and provide improved network security, as well as increased transparency in the transaction validation process. The transition to a new consensus mechanism is expected to enhance network efficiency and make it more adaptable to the changing demands of the cryptocurrency market.
Strengthening Community Role: The Leap 5.0 update also implies increased community participation in network governance. This could include voting on key governance issues, resource allocation, and decisions regarding future network updates. This approach is aimed at increasing accountability and involvement of community members in the EOS network development process.
Technological Improvements: The Leap 5.0 update is expected to bring significant technological enhancements to EOS infrastructure. This may include optimizing transaction speed, improving scalability, and increasing resilience to network attacks. New features that simplify EOS integration with other blockchains and technological platforms are also possible.
DApp Ecosystem Enhancement: Leap 5.0 may also focus on improving conditions for decentralized application (DApp) developers. This could include simplifying the development process, enhancing application security, and providing additional tools for creating more efficient and functional DApps on the EOS platform.
It's important to note that these additions are hypothetical and may not accurately reflect the actual changes or plans for the EOS network update, but the update is indeed significant and long-awaited.
