Author: Marco González
Editor: Randall Roland
The EOS Network Foundation led EOS out of a dim future devoid of development. EOS is now a vibrant network with a consistent flow of new products. It took the foundation a whole year to release its first product (Leap 3.0). Another exhausting year saw IBC, EVM, v4.0, nearly $200M in investment, and possibly v.5.0 (with IF).
Antelope Leap 5.0: How We Got Here
August 05, 2021: The EOS Network Foundation was founded, and soon after, the first working groups.
September 21, 2022: The ENF releases its first product with Antelope Leap 3.0 and declares independence for EOS.
November 10, 2022: EOS Network Ventures establishes a $100M EOS ecosystem fund.
December 07, 2022: Binance integrates withdrawals/deposits for USDT/EOS.
January 23, 2023: Inter-blockchain communication (IBC) goes live across the Antelope ecosystem.
April 13, 2023: EOS EVM connects the EOS Network to a larger community and more development options.
April 13, 2023: DWF Labs agrees to a strategic $60M partnership.
April 25, 2023: The ENF releases v4.0.
July 18, 2023: The ENF announces the Antelope Leap 5.0 Consensus Upgrade… for Q4 2023. Included is the revolutionary potential of instant finality that utilizes the HotStuff protocol.
August 02, 2023: Team Greymass publishes The Ports Are Open: v1.0 Session Kit & New Wharf Website Release.
About Wharf
There’s quite a lot to say about Wharf and its Session Kits. A lot still more to come. ENF CEO, Yves La Rose, said:
“…a significant user experience if …developers are capable of doing things that don't take…four weeks… can just do in a couple of hours or…days…a very big net positive for…token holders…”
“…an idea of a long time coming” and a “…known issue and kind of a sore spot for developers for a long time…”
Aaron went on to say:
“…under this Wharf umbrella so developers that are coming into the space and building front-end applications … will know…to go to the CDT to build smart contract… and then for the client… user experience… go to Wharf …has all these products underneath… solving things that you didn't know you needed solved…”
Find out more via Get to Know Wharf SDK on Twitter Spaces.
About IBC
ENF Director of Developer Relations, Nathan James, touched upon an idea on everybody's mind. Expanding upon IBC is a high priority, but no official plan, yet:
“…investigation into Bitcoin …just something that was discussed …a high priority item… when can IBC be taken to other chains…definitely on top of mind…
EOS Labs Takes EOS Private
On August 16, the ENF published EOS Labs: Connect. Engage. Evolve. Funding EOS Labs follows the sunsetting of the Yield+ program.
The EOS Network will remain a public ledger (blockchain). The ENF will continue to produce open-source products that support the AntelopeIO ecosystem. What’s different is that EOS Labs will become independent of the foundation (with increased funding).
EOS Labs will be a dedicated for-profit entity held accountable by block producers (BPs)- just like the foundation. Private-focused growth in support of crypto development is a notion that Psibase (a team responsible for pre-and-post B1 development) currently harbors.
Impact on the EOS Economy
The ENF expects to part with about 25% of its allocation to fund EOS Labs. It’s a rare dynamic where funding comes from inflation controlled by block producers. For-profit development greatly expands the network’s market.
BP’s relationships with EOS Labs will differ from the ENF’s focus on core development and public goods. With EOS Labs, BPs will connect to a more traditional business model. The result may prove to bridge the gap between web2 and web3 economics.
Consider how the ENF developed EOS into a high-performance blockchain. The network in its prior state wasn’t ready for high-level business opportunities. EOS Labs makes sense at this point. Solutions that the foundation isn’t structured for are now within reach.
OUTLOOK
Shifting the focus to incentivizing private enterprise opens up new opportunities for the EOS Network. Public goods are more effective for larger communities. EOS is gearing up to grow through the bear market.
Additionally, investing in a high-value opportunity when prices are low can be very lucrative. EOS Labs aids such development by design. Add inter-blockchain communication, faster transactions, and easier development, and new markets quickly open up.
Sources & References