The token of the open-source blockchain platform EOS was the top gainer last week — the coin shot up 13.8% in the period, outperforming gains clocked by Bitcoin BTC/USD, Ethereum ETH/USD, and Dogecoin DOGE/USD.
Fork Sets The Buzz
The EOS Network Foundation announced recently that it had combined resources with partners such as Wax and UX Network to form a “coalition of blockchains.”
EOS will go through a rebranding and will be called “Antelope,” according to a blog post by the EOS Network.
The blog post said that Block.one, the company associated with EOS, “ceased” supporting EOSIO development which in turn “put the future of EOS and all other EOSIO-based blockchains in jeopardy.”
Yves La Rose, the founder and executive director of EOS Network Foundation said while they are revealing the EOSIO rebrand this week, a hard fork will be activated next month in a tweet on Aug.16.
This week we are revealing the highly anticipated EOSIO rebrand, and next month, $EOS will activate its v3.1 consensus upgrade (hardfork).— Yves La Rose (@BigBeardSamurai) August 15, 2022
Here’s what you need to know about #TheNewEOS.
La Rose said last year EOS’ community “fired” Block.one and “took control of the network.”
Last year, the $EOS community fired @B1 and took control of the network.— Yves La Rose (@BigBeardSamurai) August 15, 2022
As crazy as it sounds, a bunch of #EOS community members stood up to a multi-billion dollar corporation and won!https://t.co/1gMWOm28Bh
Hardfork A Workaround Against IP
The Network Foundation CEO said firing Block.one was necessary for EOS to make a “comeback,” another problem was posed by the fact that the technology firm Bullish owned EOSIO intellectual property.
La Rose said, “How can the #EOS community move forward without it? That is why we need to hardfork and rebrand!”
Firing @B1 was necessary for $EOS to make a comeback, but it also posed a problem: who will handle the EOSIO code? Since @Bullish owns the EOSIO IP, how can the #EOS community move forward without it? — Yves La Rose (@BigBeardSamurai) August 15, 2022
That is why we need to hardfork and rebrand!https://t.co/2K07NNV9uk
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