4 blockchains commit $8M to advance EOSIO code

EOS (EOS/USD), Telos, WAX and UX Network, all based on the EOSIO protocol, have pooled resources to further the development of the protocol core code, Invezz learned from a press release. The blockchains committed a combined $8 million a year for core development and outreach in 2022.

Rebranding EOSIO tech stack, improving security

The blockchains will collaborate to rebrand the EOSIO technology stack and bring new feature development and additional security to the protocol’s core code. All code developed by the group will be open source.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Yves La Rose, Executive Director of the EOS Network Foundation, commented:

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.

Development to start immediately

Most of the priorities have been defined in the four “Blue Papers”, which represent a detailed overview of the current state of EOSIO. Over 75 proposals enhance the protocol.

Douglas Horn, Chief Architect of Telos, said:

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. Our chains will continue to compete in many areas, but I respect the leadership that the ENF brought in creating a forum for us to come together and we are already working together with efficiency and cooperation. I’m excited about what we can build for the users.

Guillaume Babin-Tremblay, Lead Developer of UX Network, added:

By establishing a common development framework, we indeed get the best of both worlds, as we ensure EOSIO-based chains can continue innovating, while preserving compatibility, interoperability and common tooling.

Each blockchain in the group has its own areas of focus. The coalition will focus its efforts on the areas where the chains overlap and on alignment to advance the underlying core protocol and the tooling around it.