The EOS community is so excited as EOS Network Foundation (ENF), the organization behind the project, confirmed they will establish the brand and deploy incredible features in the future. At the time of writing, EOS suddenly increased sharply despite Bitcoin correction in the past 24 hours and is trading at 1.62 USD.
Perhaps this is the biggest move of EOS since it was taken over by ENF. Although EOS was once known as the largest crowdfunding project in the crypto space with $4.1 billion through an ICO in 2017, it has gradually sunk into oblivion. Then, EOS Network Foundation (ENF), which represents the community, takes charge of the network.
At that time, EOS was abandoned by its development company, Block.one. Instead of developing the project, they turned their attention to the Bullish exchange, which was invested by SoftBank with $7.5 million. Besides Bullish, Block.one also focused on launching Voice, the social media platform was originally claimed to be built on EOS but the fact was not. It later became an NFT platform.
Things got so bad that CTO Dan Larimer, who had many contributions in developing EOS announced to leave Block.one. Until the end of 2021, EOS found hope again when CEO ENF Yves La Rose publicly criticized Block.one and called on the community to join him in reviving EOS.
Since then, ENF received a lot of support from the community and officially took over the project. The EOS community even decided to stop $250M payout in EOS to Block.one because Block.one has been drifting away from the network’s interests and failing to deliver on promises. CEO Yves La Rose also planned a legal battle with Block.one to ask the company to pay $ 4.1 billion in damages to the EOS community. In all fairness, ENF has only been managing EOS for less than a year, but it has done a lot more for the project than Block.one. ENF successfully persuaded Dan Larimer to come back and build the foundation, set a roadmap EOS growth by the DAO, partnered with four major EOSIO-based blockchain and are working hard to support Ethereum Virtual Machine (EVM).
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