The EOS ICO raised $4.1 billion in the largest ICO ever. It was called the Ethereum killer because of it extremely high TPS (transactions per second). Even with the funding and technology to back it up, EOS failed to live up to expectations as a blockchain and token. This led to many developers, including the man behind the technology, Dan Larimer to leave Block.one. EOS thus missed out on the Defi and NFT booms that soon followed. Most crypto entrepreneurs have been vocally critical of EOS and Block.one for its shortcomings, until recently.
ENF CEO Yves La Rose Vs Buterin Over TPS as TrustEVM adds Ethereum Virtual Machine to EOS
The dissatisfied members of the EOS community formed an organization opposed to Block.one as a result. The EOS Network Foundation (ENF) rebelled against Block.one and took over the network codebase. In response to Buterin, ENF CEO Yves La Rose said EOS is the “most performant blockchain” and can “handle 100m+ transactions per day.”
“Technology is not an issue for EOS… but leadership was a major issue in the past,” he said.
In recent news, the foundation announced TrustEVM, a new virtual machine that will provide Ethereum Virtual Machine (EVM) compatibility to EOS, allowing developers to create smart contracts using the popular programming language Solidity. EOS, the project’s native token, is currently trading at USD 1 at 9:28 UTC, down by 2.2% over the past 24 hours and up by 4% over the last week. Since reaching its all-time high of USD 22.71 in April 2018, the coin has fallen by 95.6%.