This Week: A Strong EOS Ecosystem to Power the World into Web3

EOS seems primed to be the leading blockchain network for dApps (decentralized applications) and smart contract deployment this year. Various initiatives, collaborations, and infrastructure developments have already seen EOS gain industry recognition as one of the projects to pay close attention to this year.

As EOS continues to attract activity to its network through the various initiatives, it seems only a matter of time before it is recognized in the real world as a vehicle for onboarding businesses and organizations onto the next iteration of the internet - Web3.

This week’s developments highlight why and how EOS is setting itself apart from other blockchain competitors, but also how it is aiming to be an integral partner for the world’s Web3 (blockchain) needs.

Antelope Coalition meeting

The Antelope Coalition between EOS, WAX, Telos, and UX Network blockchains held its weekly meeting this past week in which they discussed various initiatives that aim to improve the Antelope ecosystem as a whole.

The following projects are some of what was discussed in the recent meeting:

IBC milestone #5 - With IBC milestones #7 and #8 having been marked as complete in last month’s Program & Operations Health Report, this month sees milestone #5 reach completion. The milestone will be reviewed by a Coalition representative to confirm if all requirements have been met before being validated as complete.

Telegram support groups - In this past week's meeting the Coalition discussed the existence of two telegram groups that help each member chain with the integration of IBC. One channel focuses on discrepancies with the accounting to ensure token supplies, and that token transactions from one chain to the another are accurately accounted for. The second channel is for technical support to keep member chains alerted about any issues as well as to help solve any issues that arise.

P2P Peer Discovery - The project is doing well and its progress is currently ahead of schedule. They’ll be a review by Coalition representatives to ensure everything meets the set requirements and that it is still on track towards achieving its other milestones.

Instant Finality - This project continues to hit its benchmarks. It will go under review to better gauge how far along the project is in its development, but seems to be on schedule for a September 2023 launch. There was also discussion on when and how the rebranding to a new consensus mechanism for Antelope chains will take place. A rebranding that will see Antelope chains moving away from DPoS because of the negative connotations associated with its history.

Yves La Rose headed for Hong Kong

Earlier this week, the CEO and founder of the EOS Network Foundation, Yves La Rose, announced he was making a trip to Hong Kong. While in the city of Hong Kong Yves will be attending 20+ events including the Hong Kong Web3 Festival 2023 on April 12-15. Among his missions on this trip is to collaborate with Hong Kong government officials to seek ways in which EOS can play a key role in their city’s future.

This comes after Hong Kong’s recent announcement that starting on June 1 retail investors would be permitted to trade certain major cryptocurrencies, including Bitcoin and Ethereum, on exchanges licensed by the Securities & Futures Commission. In its plans to once again become Asia’s leading fintech hub, EOS’ industry-leading infrastructure could give Hong Kong the edge it needs to compete with the likes of Singapore.

Yves La Rose will be looking to replicate recent successes in South Korea where the EOS Network Foundation signed a memorandum of understanding with the Busan Metropolitan City government. That agreement would lead to the establishment of the Venture Capital Alliance of Busan Blockchain (VCABB) which will actively contribute to the development of the blockchain ecosystem in the second largest city in South Korea. A similar or better arrangement with the city of Hong Kong would be highly beneficial for both entities, EOS and Hong Kong.

EOS EVM security audit complete

The final milestone before the mainnet launch of the EOS EVM on April 14 was achieved this week as the EOS EVM passed its security audit. Conducted by Sentnl, one of the industry’s leading audit firms, the EOS EVM has passed the audit with no major issues. The EOS EVM code was completed on March 22 (1st milestone) and was deployed on a testnet five days later on March 27 (2nd milestone).

Ahead of the mainnet launch on April 14, the security audit, which is the third milestone, ensures that not only will the EOS EVM be the most performant EVM in the industry, but that it will also be a highly secure platform on which Ethereum (Solidity) developers can build world-class blockchain applications. In addition, Sentnl has created an AI tool that scans Solidity smart contracts for potential vulnerability, giving applications deployed on EOS EVM an extra layer of security.

The EOS EVM launch on April 14 will be a beta version (version 0.4) which will continue to be worked on, updated, and improved upon in the weeks and months following the launch. Once deployed on mainnet the EOS EVM will open up many avenues and greater opportunities for EOS, as well as Ethereum, to integrate into many of the world’s processes and systems.

Suggested read - EOS EVM: A Bridge Between EOS and Ethereum Ecosystems

Leap v3.2.3 patch release

A patch has been released for the previous iteration of v3.2. With the latest patch release all users of ‘ state_history_plugin’ running v3.2.0 through v3.2.2 are highly recommended to update to this v3.2.3 release.

This update sees a fix to the SHiP forking behavior. With the previous releases the ‘state_history_plugin’ (SHiP) was not sending updated blocks when ‘nodeos’ forked. There has been an enhancement made to the ‘ship_streamer_test’ to generate a fork and verify SHiP sends new blocks on forks.

This update also comes after Leap (Antelope codebase) recently got upgraded to v4.0.0, which is a release that focuses on optimizing node performance, improving block propagation, scheduling future snapshots, adding read-only transactions, and improving performance of EVM related functions.

For detailed info check the - Leap v3.2.3 Release Notes

As of writing EOS is trading at $1.19 (slightly down from last week’s price of $1.20). It is currently doing $99 million in daily trading volume, and its market cap sits at $1.3 Billion. This week sees EOS move maintain the 42nd position by market cap rankings. All stats are based on CoinMarketCap data.

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Sources

● Antelope Coalition meeting

● Yves La Rose headed for Hong Kong

● EOS EVM security audit complete

● [Leap v3.2.3 patch release](

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