Four EOSIO Blockchains Commit $8M To Rebrand Tech Stack

Four EOSIO blockchains commit $8M to rebrand the tech stack while adding more features with respect to security and code development so let’s read more in our latest EOS news.

Telos, WAX, EOS, and UX Network announced a new coalition to rebrand the technology stack while adding more features with respect to security and the core code development. The four EOSIO blockchains came together to gain control over the latest development for the protocol core code which underpins each of the blockchains. The coalition announced dedicating a stunning $8 million annual budget for the core development and developer outreach this year.

According to the latest press release, the four blockchains will remain distinct from one another and will work towards adding more features to the EOSIO core code. The entire code developed by the group will be available for every EOSIO-protocol based initiative and will be free to use and open source in nature. The coalition was formed in January and at some point, it added different EOSIO protocol projects like Proton, FIO, EVA, Ultra, and other NFT projects. Two months later, the ENF founder Yves la Rose represented by the Telos Core Developers and led by Douglas Horn, agreed to form the alliance to support the core protocol code soon. UX Network and WAX followed suit and joined the coalition while the statemetn also revealed that other groups could join soon and contribute to the development. La Rose added:

“This coalition represents a monumental shift in direction for the future of the EOSIO protocol and is a huge milestone for all of the businesses leveraging its technology. The network effect of multiple EOSIO blockchains working together to secure the growth and sustainability of our common codebase and related open source innovations is a force multiplier that will be paying dividends for years to come.
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The Coalition members will weigh in on the detailed review of the state of the EOISO protocol and identify more ways to fund priority proposals and also offer a public roadmap. All of the four protocol-based blockchains have their own main areas of focus and are set to compete. The group as a whole will focus on areas where the chains overlap and the incentives are positioned to speed up the development of the core protocol. The chief architect of Telos Douglas Horn added:

“This is a watershed moment for the EOSIO protocol. Finally, development is in the hands of the users instead of Block.one. Finally, developers will have communication about priorities and code releases so they can make their own development plans. I’m excited about what we can build for the users.”