This Week: EOS Is Building At A Level Above The Rest

EOS development remains at the top as a leading solution for high-performance blockchain architecture. Building at a level above the rest with its advanced scalability and security features, EOS has established itself as a game-changer in the world of decentralized applications.

Its innovative technology enables developers to create and launch fast, efficient, and secure decentralized applications (dApps). By delivering unparalleled speed and capacity, EOS is helping to shape the future of blockchain and taking the industry to new heights.

Antelope Coalition meeting

In the latest Antelope Coalition meeting members discussed a variety of projects under the coalition’s oversight. There weren’t too many new updates this past week, as much of the ongoing project updates were covered and remain unchanged from the other week.

This week the coalition meeting provided updates on the following:

● Scalability+ Update (RAM limitation fixes): The members discussed the ENF’s revised proposition for the RAM limitation fixes RFP and have invited the bid for a smaller scope on the RFP. All of the members have agreed that the smaller scope will still meet the RFP’s (Request for Proposal) priorities.

● P2P Peer Discovery RFP: Last week it was communicated that a single team had been awarded the P2P Peer Discovery RFP contract following a unanimous vote by the coalition members. All bidding participants have since been notified. The next steps are to set up a kickoff meeting with the winners (Fudan) next week.

● Coalition top-up to fund RFPs: The current rough draft of the numbers that every member has agreed on are as follows - EOS ($1 million), Telos ($65,522.56), WAX ($179,531.82), and UX ($65,622.56). These numbers come from the Coalition’s formula of looking at liquidity depth and market cap to weight the fund allocations for each blockchain network. In total these amounts make up roughly $1.3 million. With the roughly $600k the coalition still has in treasury, the total budget for 2023 falls just under $2 million. This budget will be used to fund new projects as the current ongoing projects have already been funded with last year’s budget.

● Instant Finality: There’s been a back and forth in communication between the relevant parties regarding Instant Finality. A couple of decisions have been taken that will see the project push back some of its milestones, but overall the project will still be delivered on schedule. The project is scheduled for a Q2 2023 launch.

● Wallet SDK: There’s been a change in priorities from the previous version of the project (version 3). As a result of the priority changes the payment schedules have also shifted for the new version (version 4). After being notified of these changes to the RFP, the Coalition members have voted to adapt the current payment contract to align with the project’s new milestones/payment schedule.

Pushing Towards an Interoperable Web3 Future

EOS Network Foundation CEO and Director, Yves La Rose, was recently featured on a podcast by Bittrex Global (crypto exchange). Hosted by Bittrex’s Head of Digital Assets and Markets, the pair discussed Yves’ history in the industry. They also discussed Yves’ experiences with the EOS blockchain - his former role as a block producer, leaving EOS to reflect on its past and future, and his return to establish an EOS foundation that’s different from others in the industry.

The podcast’s topic of discussion was centered around interoperability being the future of Web3 (blockchain). Yves did well to communicate EOS’ role in pushing towards this future with initiatives like inter-blockchain communication (Antelope IBC), and the upcoming EOS EVM (Ethereum Virtual Machine).

EOS’ direction, mission, and its future were eloquently communicated, along with how the blockchain project has learned from its history and lessons learned from other blockchain projects in the industry. Unlocking interoperability on its network enables EOS to leverage infinite scaling and opens the doors to accessing benefits from other blockchain networks as well.

Such initiatives, along with others being worked on, will ensure that EOS is ready for mass onboarding of Web2 apps and users when the worldwide transition to Web3 inevitably occurs.

EOS Network Foundation Q4 Report

The ENF has published its quarterly report for Q4 2022. The report highlights how the ENF has grown in a year; having gone from an initial team of three to now having over forty team members, fourteen of which were recruited in Q4.

It also highlights the ENF’s massive role in facilitating the re-emergence of the EOS network as a community-led DAO capable of asserting its sovereignty and protecting itself against powerful corporate interests. The report also showcases all of the ENF’s initiatives in the EOS ecosystem for the last quarter of 2022.

They include: the ENF Progress Report, Milestones, Events, Community Funding, Ecosystem Initiatives, ENF Technical Developments, Antelope Coalition Developments, and the ENF Operations and Financial Overview.

All these impressive initiatives for the EOS ecosystem have cost the network $7,885,340 in total spending for the ENF in Q4 2022. The budget went towards Grants ($2,331,200), Core Code Development ($2,310,000), PR and Marketing ($1,709,800), Operations and Insurances ($649, 440), Training and Development ($306,400), Professional Services ($295,000), Social Media and Engagement ($283,500).

Read the detailed report - ENF Q4 2022 Quarterly Report

EOS Asia proposes a MSIG

Top 21 block producer, EOS Asia, has recently proposed a multi-signature (MSIG) to add a smart contract to the eosio.saving account. If approved, the smart contract would allow for network issuance to programmatically be distributed, allowing for on-going funding to automatically be distributed to the relevant recipients.

At the moment EOS issuance flows directly into the eosio.saving account and requires a MSIG that needs to be approved by multiple BPs before transfers to fund EOS-related initiatives can be funded. This creates inefficiency and time delays, especially for time sensitive requests.

As of writing, the proposal has been approved by eight block producers and is pending votes from other block producers. It needs a total of fifteen approvals for it to be implemented on the network. “It would make funding more predictable, which is very important for organizations, and also help showcase EOS as a DAO of DAOs”, states Yves La Rose in his tweet about the proposal.

Find out more about what this proposal entails - EOSIO Saving v1.0.0 Release Notes

As of writing EOS is trading at $1.11 (up from last week’s price of $1.10). It is currently doing $103 million in daily trading volume and its market cap currently sits at a slightly improved $1,205,065,990. This week also sees EOS move up one spot to 44th in position by market cap rankings. All stats are based on CoinMarketCap data.

Sources

● Antelope Coalition meeting (YouTube)

● Pushing Towards an Interoperable Web3 Future

● EOS Network Foundation Q4 Report

● EOS Asia proposes a MSIG

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