The EOS blockchain has turned 5 years old, although it has gone through a bumpy journey. EOS Network Foundation believes the community’s resilience and support has helped the project survive.
EOS Network’s Journey and Troubled Early Years
EOS launched in 2018 after raising over $4 billion in the largest ICO at the time. However, it soon faced:
- Fines from the SEC
- Allegations of wash trading during the ICO
- Exodus of developers
This led the community to form the EOS Network Foundation (ENF) and take control from Block.one.
Progress Since ENF Took Over
Since ENF took over, EOS has:
- Launched an Ethereum Virtual Machine mainnet for interoperability
- Received a $60 million investment to accelerate growth
- Pledged $20 million fund for DeFi and GameFi project developers
- Partnered with industry leaders like Binance and Messari
The Road Ahead
La Rose believes the formative years have taught EOS a lot and that the project is just getting started, thanks to the support and resilience of its community. EOS currently ranks in the top 50 cryptocurrencies by market cap.
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