TheCryptoNews.eu
Altcoin

EOS Rallies 24% Earlier than Antelope Rebrand 

EOS Rallies 24% Earlier than Antelope Rebrand 

The Proof-of-Stake blockchain is determined to yelp its novel branding because the project strikes to distance itself from old developer Block.one.

Key Takeaways

  • A brand novel tweet from the EOS Basis implies the project’s long-discontinuance up for rebrand will happen in a while the present time.
  • In respose, the EOS token has rallied bigger than 24% over the past 24 hours.
  • The community-led protocol Antelope is attributable to hardfork the EOSIO codebase on September 21.

The EOS Basis additionally plans to hardfork the EOS blockchain on September 21. 

EOS Prepares to Rebrand 

The EOS blockchain is rebranding. 

An early Wednesday tweet from the EOS Community Basis has printed that its long-awaited EOS rebrand is impending. “Who’s ready for the EOSIO rebrand? 15.5 hours… Tick Tock,” read a Wednesday tweet, implying that the foundation’s rebrand would drag dwell on the present time at around 16: 00 UTC. 

The foundation’s CEO Yves La Rose hinted that the EOS rebrand would beginning “this week” on August 15, but it became easiest after EOS Community Basis’s tweet that the market entered an EOS buying frenzy. EOS has jumped over 24% because it became posted, making it one among the easiest-performing crypto tokens of the past 24 hours, in step with CoinGecko

EOS/USD chart (Source: CoinGecko)

EOS famously raised a epic-breaking $4 billion via its preliminary coin offering in 2017 but confronted criticism after failing to dwell as much as its guarantees. The EOS token has additionally underperformed those of diversified Layer 1 blockchains and has by no way damaged its 2018 all-time high label. Though EOS has attracted indispensable backers equivalent to PayPal co-founder Peter Thiel, an interior fight between the blockchain’s developer Block.one and the non-profit EOS Basis has weighed on the project. 

Below La Rose’s management, the EOS Basis has worked to cut ties with Block.one. In February, La Rose announced the Basis would inspect upright recourse against Block.one for what it known as “negligence and fraud” following the EOS ICO. The EOS community additionally voted to discontinuance issuing vested EOS tokens to Block.one in leisurely 2021, claiming that the company had failed to ship on its guarantees for EOS.

Now, the EOS Basis is gearing as much as completely lower ties with Block.one, coming into what La Rose has known as a “novel chapter” within the blockchain’s pattern. The foundation will rebrand EOS below a brand novel name to distance itself from the duration of lacklustre pattern that it blames on Block.one. Additionally, the EOS Basis plans to hardfork the blockchain’s current EOSIO codebase on September 21, a compulsory step to switch project possession away from Block.one and its affiliated companies. “This marks the terminate of a turbulent gallop from a codebase controlled by a toxic entity to a in actual fact decentralized and commence provide project,” acknowledged La Rose in a Monday tweet storm explaining the rebrand and hardfork. 

Onlookers can enjoy to relief unless later this afternoon to deem what more or less brand and image EOS will transition to. On the assorted hand, with diversified upcoming Layer 1 blockchains equivalent to Aptos gaining the market’s attention in current weeks, EOS can enjoy its work lower out if it needs to safe an impact. Compared to when EOS launched in 2017, the Layer 1 blockchain home of 2022 has change into enormously more saturated. 

Update: The EOS Community Basis announced Wednesday that the community-led protocol Antelope will fork and rebrand the EOSIO codebase. The hardfork is slated for September 21.

Disclosure: On the time of writing this half, the author owned ETH and a number of diversified cryptocurrencies. 

The solutions on or accessed via this internet website is obtained from fair sources we imagine to be lawful and legit, but Decentral Media, Inc. makes no illustration or warranty as to the timeliness, completeness, or accuracy of any files on or accessed via this internet website. Decentral Media, Inc. isn’t any longer an funding consultant. We make no longer give personalized funding suggestion or diversified monetary suggestion. The solutions on this internet website is field to substitute with out inspect. Some or all of the files on this internet website could perchance change into outdated, or it’s far inclined to be or change into incomplete or inaccurate. Shall we, but are no longer obligated to, update any outdated, incomplete, or inaccurate files.

That you can unruffled by no way safe an funding dedication on an ICO, IEO, or diversified funding based completely completely on the files on this internet website, and likewise it’s seemingly you’ll perchance unruffled by no way define or in every other case depend upon any of the files on this internet website as funding suggestion. We strongly recommend that you just search the suggestion of a certified funding consultant or diversified certified monetary legitimate at the same time as you is inclined to be attempting for funding suggestion on an ICO, IEO, or diversified funding. We make no longer salvage compensation in any construct for analyzing or reporting on any ICO, IEO, cryptocurrency, foreign money, tokenized sales, securities, or commodities.

Thought stout terms and conditions.

EOS Basis Seeks $4.1B in Damages From Block.one 


News


The EOS Basis is planning to pursue upright recourse against EOS backer Block.one. The foundation is soliciting for $4.1 billion in damages for “negligence and fraud” on the portion of Block.one…

EOS Foundation Seeks $4.1B in Damages From Block.one 

EOS Personnel Votes to Reside Vesting to $4B Backer Block.one


News


EOS block producers enjoy voted to discontinuance vesting tokens to Block.one. The war between the EOS Basis and the project’s founding crew, Block.one, continues.  EOS Personnel Votes to Cease Vesting…

EOS Community Votes to Halt Vesting to $4B Backer Block.one

EOS Basis CEO Addresses Mission’s Heart-broken Efficiency, Outlines Ne…


News


EOS Basis CEO Yves La Rose has addressed the EOS’s unlucky performance, outlining a brand novel roadmap. Rose assign powerful of the blame on the blockchain’s ICO backer, Block.one. EOS Basis…

EOS Foundation CEO Addresses Project’s Poor Performance, Outlines Ne...

Read More

Related posts

ChangeNOW Review 2022: Crypto Swaps, Lending, Buying and selling and More

The Crypto News

Sichuan Orders Shutdown on 26 Bitcoin Mining Farms

The Crypto News

ParaSwap “Investigating” That you would possibly presumably be take into consideration Deepest Key Hack

The Crypto News

Leave a Comment

Or Login with

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More