Building From Scratch
The EOS community had to start from scratch because they didn’t own any existing intellectual property. Capital had to be injected quickly and effectively since the ecosystem had been starved of capital for years. However, this had to be done before the decision-making processes and frameworks were established.
Rejecting Block.one’s Settlement Proposal
The settlement proposal from Block.one was only a fraction of what they raised in their ICO sale. Yves La Rose urged the community to reject it because it fell short of the promised $1 billion injection into the EOS Network and community.
EOS on the Path to Recovery
Despite a drop in price over the years, Yves La Rose believes that EOS is on a path to recovery. The recent whitelist approval from the Japanese Virtual and Crypto Asset Exchange Association is seen as a positive sign for the cryptocurrency.
The Benefits of EOS EVM
The EOS EVM allows developers who were previously unable to enter the EOS ecosystem to participate. It opens doors for them and enables interoperability with Ethereum. Smart contracts on EOS can read and call smart contracts on EOS EVM, creating atomic transactions. This concept of interoperability between virtual machines is exciting.
Leveraging the Developer Community
EOS EVM leverages the large developer community in web3 by providing access to familiar tools like Hardhat and Openzeppelin. The wealth of applications built for Ethereum can now run on EOS, and developers can benefit from existing tooling, protocol improvements, and open-source code. Additionally, EOS developers contribute their own innovative code, such as the EOS EVM version of Silkworm C++ Ethereum implementation.
Hot Take: The Future of EOS
Despite its challenges, EOS is making strides towards recovery. With the integration of EOS EVM and the support of a growing developer community, there is potential for EOS to regain its position as a prominent cryptocurrency in the market. The approval from the Japanese Virtual and Crypto Asset Exchange Association further validates the potential of EOS. As the ecosystem continues to evolve and innovate, it will be interesting to see how EOS establishes itself as a strong player in the blockchain industry.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
