Four EOSIO Protocol-Based Blockchains Commit $8M to Rebrand Technology Stack

EOS, Telos, WAX, and UX Network have come together to gain control over the development of the EOSIO protocol core code that underpins each of these blockchains. Collectively, the coalition has announced dedicating a whopping $8 million annual budget for core development and developer outreach this year.

Rebranding EOSIO

According to the press release shared with CryptoPotato, all four blockchains will remain distinct from one another and will work towards adding new features to EOSIO’s core code. The entire code developed by the group will be available for any EOSIO protocol-based initiatives. It will be free to use and open-source in nature.

The coalition started to form in January this year. At some point, it included various other EOSIO protocol projects such as Ultra, Proton, FIO, EVA, and even the now-estranged Block.one’s exchange and NFT projects.

Two months later, ENF founder and “community-elected CEO” Yves La Rose, represented by the Telos Core Developers (TCD) led by Douglas Horn, agreed to form an alliance to support the core protocol code. Soon, WAX and UX Network followed suit and joined the coalition. The statement also revealed that other groups might join soon to contribute and have a say in the development priorities.

La Rose called the move “a huge milestone” and 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.”

The Coalition

Coalition members will weigh in on the detailed review of the current state of the EOSIO protocol and identify ways to fund priority proposals, and offer a public and specific development roadmap.

All four EOSIO protocol-based blockchains have their own focus areas and are set to compete in various arenas. The group, as a whole, will focus on the areas where the chains overlap and incentives are positioned to accelerate the development of the core protocol.

Taking a jibe at Block.one, Douglas Horn, Chief Architect of Telos stated,

“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.”