The EOS Network Foundation (ENF) is pleased to share recent news from PassPay with the EOS community. Facilitated by EOS Labs, PassPay has announced a strategic alliance centered on leveraging the EOS blockchain for its innovative digital payments platform. This will involve the development of a number of critical financial services for the country of Japan. The most notable of these is the issuance of the stablecoin JPYW, the only stablecoin licensed for the Japanese Yen.
This alliance will help strengthen the EOS Network’s presence in Japan and comes at a time of growing adoption from that demographic. In August, the EOS token received regulatory approval by the Japan Virtual and Crypto Asset Exchange Association (JVCEA). Shortly after, exchanges in Japan began to list EOS, the most recent being a listing from Binance Japan.
In utilizing the EOS blockchain as part of the underlying infrastructure for JPYW, the EOS Network will be exposed to a large user base across Japan. EOS was an obvious choice when considering the speed, reliability and scalability that is required to meet the demands of a country-wide stablecoin. Growth in the Japanese markets is part of a much larger trend of adoption across East Asian markets.
Check out the full press release from PayPass below, to learn more about the exciting implications of this alliance. Those interested in getting in touch with EOS Labs for similar collaborations can do so at EOSLabs.io.
PassPay Co., Ltd., a frontrunner in digital payments (located in Minato-ku, Tokyo, CEO Yoshikatsu Kitano, hereinafter referred to as “our company”), along with blockchain technology innovators EOS Network Foundation and EOS Labs, officially announce a strategic alliance centered on blockchain technology. Through this alliance, PassPay and EOS will work together to optimize financial services using blockchain technology and develop new services. The joint research and development of both companies aim to further evolve the use of blockchain in the financial industry.
Key Points of the Alliance
“PassPayWallet” has recently been making waves in the cryptocurrency industry with its innovative features and rapid growth. In just six months, it achieved over 1300 downloads and continues to grow at an astonishing rate of 200 downloads per month. This momentum is unstoppable, with plans to support more networks in the future. Moreover, PassPayWallet aims to introduce payment functions using stablecoins, allowing users to transact in a currency with more stable value. These innovative efforts demonstrate that PassPayWallet is not just a wallet app, but a pioneer shaping the future of cryptocurrency. The significance of PassPayWallet goes beyond these achievements, continually proving its value with each use.
Our company is also committed to the issuance of the stablecoin JPYW and the development of a wallet that can manage digital assets, including stablecoins, in a one-stop manner. We are working to expand the use cases for JPYW. This alliance will further accelerate our efforts and contribute to the realization of our mission.
Comment from Yves La Rose, Founder & CEO of the EOS Network Foundation
“Our collaboration with PassPay to introduce JPYW on the EOS blockchain fills us with great enthusiasm. This move is set to broaden the horizons of the EOS Network, offering fresh applications and bringing the transformative capabilities of blockchain technology to a wider audience in Japan. Working together with PassPay, we’re poised to propel the integration of blockchain into the fintech sector and establish pioneering benchmarks for the industry.”
Comment from Yoshikatsu Kitano, CEO of PassPay Co., Ltd.
“Our new partnership with EOS represents a significant step in maximizing the potential of blockchain, and we are confident that PassPay is entering a new stage in digital payments. We look forward to providing our customers with even more secure and efficient services.”
EOS Network Foundation is a leading organization supporting and promoting the blockchain technology and ecosystem of EOS. Established to ensure the technological innovation and sustainable development of EOS, the foundation’s core activities include developer education, community support, funding research, and strengthening the technological foundation of EOS. Its efforts are aimed at maximizing the potential of blockchain and building a sustainable digital future, delivering true value to technicians, businesses, and end-users.
EOS Labs Official Website
PassPay Co., Ltd. is dedicated to overcoming the “three walls” that hinder the use of cryptocurrencies in everyday life. The “three walls” refer to the challenges in using cryptocurrencies for real-world transactions due to significant price volatility, the underutilization of the borderless nature of cryptocurrencies, and the transitional period of increasing digitalization and cashless transactions.
As a solution to these challenges, our company has issued the Japanese Yen stablecoin “JPYW”. In addition to stablecoins like JPYW, we have developed the “PassPay Wallet”, a mobile wallet for managing various cryptocurrencies and NFTs on the blockchain, and are advancing the development of our ecosystem. Our future endeavors will focus on expanding the use cases for JPYW and developing applications to bridge people and digital life.
PassPay Official Website
PassPay Whitepaper
The monthly EOS Block Producer (BP) meetings are intended to establish regular communications between the top 30 EOS BPs and the EOS Network Foundation (ENF), to foster an open dialogue between network operators and custodians in support of the mutual development of the EOS ecosystem.
The meeting began at 1:00 UTC on November 1st, 2023. 16 BPs attended the call, and a total of 27 people participated in the discussion. The Interprefy tool was used in the call for synchronous translation to facilitate the free flow of information across multiple languages in real-time.
Beatrice Wang, Communications Manager for the ENF, greeted those in attendance and kicked off the meeting with a brief overview of the topics to be discussed.
ENF Founder and CEO Yves La Rose began the discussion with an update on the recent restructuring of the ENF.
The ENF has undergone an optimization of operations in response to the network’s needs and market conditions. This optimization is focused on maintaining critical engineering work on the protocol and the EOS EVM while aligning with the ENF’s core objectives.
As a result of the restructuring, the ENF has concluded its Grant Framework and reallocated business development functions to EOS Labs. Among other changes, this restructuring has led to the layoff of nine employees across various departments, with the operations team being notably affected.
The decision for layoffs was described as difficult but necessary for the sustainability of the EOS Network. It was acknowledged that the individuals leaving had contributed significantly, offering valuable insights and skills.
Moving forward, the ENF will concentrate on fostering collaboration within the EOS ecosystem and ensuring adaptability to meet the network’s changing needs. Yves expressed his gratitude for the community’s support and understanding as the ENF continues to execute its strategic vision for the EOS Network.
In the pursuit of utmost transparency and accountability, Yves highlighted the EOS Network Foundation’s (ENF) commitment to undergo a Financial Statement Audit by a reputable CPA firm, underscoring this as the pinnacle of financial due diligence.
The ENF maintains a steady relationship with Grant Thornton. This firm consistently conducts Compilation and Review Engagements. Yet, getting a Full Financial Statement Audit is tough in the blockchain industry, more so after the collapse of FTX. Grant Thornton, therefore, has not agreed to perform such an audit for the ENF. This reflects a widespread concern over the risks and liabilities of detailed financial audits in the current climate.
Yves explained that a full audit provides an exhaustive evaluation of an organization’s financial controls and transaction testing. Although not obligatory, the ENF is advocating for such an audit to affirm its operational integrity.
Efforts to obtain this level of auditing have been extensive, with Yves mentioning discussions with several firms, including PricewaterhouseCoopers (PwC). PwC declined due to the ENF’s lack of specific control systems, like Fireblocks, from the start of its financial transactions, though they remain open to future possibilities contingent upon the ENF first securing an initial audit elsewhere. The ENF has implemented Fireblocks for internal controls, but it was not in place since the ENFs inception. The presence of Fireblocks from day one is an almost impossible standard for a start-up to meet. A different firm, initially on board for a full audit, withdrew citing a conflict with another client. Further inquiries with smaller firms have revealed uncertainties about auditing an entity as unique as the ENF. To date, the ENF has worked with 9 different firms in its bid to secure a Full Financial Statement Audit.
The ENF’s interim course of action, should a full audit remain elusive within a reasonable timeframe, is to proceed with a Compilation and Review Engagement. This pragmatic approach is in contrast to the preferred objective of a comprehensive Full Financial Statement Audit. The ENF is actively soliciting referrals for a firm well-versed in blockchain technology and capable of navigating the ENF’s complex, multi-jurisdictional operations to undertake a Full Financial Statement Audit.
Yves reported that the EOS Network Ventures (ENV) has invested $1.5 million into Upland as part of its $7 million Series A funding. The investment aligns with ENV’s mission to drive growth in the GameFi and metaverse sectors on EOS, leveraging Upland’s community of over 3 million accounts. The ENV aims to capitalize on Upland’s digital economy and robust third-party developer ecosystem, which creates added value for the EOS blockchain.
Upland has been utilizing EOS due to its efficiency and is minting 80 NFTs per second.
On the topic of potentially activating BLS (Boneh-Lynn-Shacham) host functions upon the release of Leap 5, it was noted that the BLS host functions present a breaking change, and therefore would require a hard fork, rather than the non-consensus upgrade, or soft fork, currently recommended by EOS Engineers and ENF leadership.
Yves spoke to the non-trivial impact of such a move, highlighting that over 180 exchanges would need to coordinate upgrades, which he explained are a complex and burdensome undertaking for all involved.
He reasoned that the costs and operational hurdles associated with the upgrade could not be justified by many external stakeholders, which in turn might lead them to fall out of sync with the network. This misalignment, Yves suggested, exacerbated by current market conditions, could potentially have adverse effects on the entire EOS ecosystem.
Based on these downsides, Yves expressed that it is the ENF’s considered position to recommend against the activation of BLS host functions at the current time, instead proposing to wait and activate BLS with the upgrade to Leap 6, scheduled for the latter half of 2024. The upgrade to Leap 6 includes additional features that will necessitate a hard fork to the protocol such as instant finality, which is itself enabled by a significant evolution of EOS’s current consensus mechanism.
While underscoring the ENF’s position, Yves emphasized that the ultimate decision rests with the Block Producers (BPs). He stated that despite the ENF’s reservations, it would support the BPs’ decision and provide necessary assistance should they opt for activation. Yves further clarified that coordinating the upgrade would not be a challenge for the ENF, but that the burden would fall to all associated external parties that rely on continuous synchronization with EOS, a network that is approaching 2000 days of continuous uptime. It was further reiterated that the ENF’s role is not to dictate but to support the consensus of the network’s block producers.
EOS Labs has been operational for two months now and has seen growth, with the number of projects increasing from 107 to 128. A total of seven projects have produced investment reports, up from four previously, with three new reports submitted to ENV within the past month.
Furthermore, EOS Labs has connected with nine exchanges that have indicated their intention to support the EOS ecosystem, and four regional stablecoin projects have been identified.
Starting in November, EOS Labs plans to collaborate with certain projects to stimulate activity within the EOS EVM ecosystem. The focus is currently on more than 20 projects, including those that EOS Labs has invested in, plans to invest in, or are in cooperative relationships with. These operational activities will span several months and will be scheduled according to the progress of each participating company.
In terms of staffing, EOS Labs operates with four full-time staff members plus part-time community workers. Despite the limited manpower, there are no immediate plans to expand the team due to the current market conditions.
Budget-wise, EOS Labs receives over 470,000 EOS monthly, with the operational budget still being funded by ENF. Excluding internal team expenses, the majority of the funds are allocated to support ecosystem projects, including joint marketing initiatives and aiding projects with their initial liquidity. However, the capability for liquidity support is somewhat restricted, prompting a need for discussions on new strategies.
EOS Labs is also responsible for settling outstanding payments related to the Pomelo/Grant fees and will be reaching out to involved parties to discuss resolution methods.
Regarding the Telegram mini-app and bot mentioned in the previous month, EOS Labs aims to introduce some features into the Labs group soon. Efforts are being made to design a new protocol that improves the integration and signature processes between Telegram and third-party wallets. Appreciation is extended to Greymass for their support in these developments.
Block Producer Attendee List
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
Every quarter the EOS Network Foundation (ENF) provides the EOS community with an overview of its activities, grants, and financial expenditures in a detailed report.
The ENF provides support, funding and the coordination of resources necessary to make EOS a thriving ecosystem. We’re harnessing the power of decentralization to chart a coordinated future for the EOS Network as a force for positive global change.
Check out the latest report for an in-depth look all the major milestones from across the EOS ecosystem, including:
As we navigate the unknown terrain of a market that is, by nature, dynamic and unpredictable, the path we choose to travel can often seem unclear. Our willingness to endure uncertainty with courage, and our capacity to harness adversity as a catalyst for growth, is what gives us the strength and clarity we need to continue. The potential to further enhance our network’s antifragility, is what drives my work at the EOS Network Foundation (ENF). Together, we are continuing our efforts to foster a more decentralized and collaborative ecosystem.
In my travels throughout Asia, at meetings with government and industry leaders in the region, it has become clear that Asia is not just witnessing but leading a pivotal shift from adaptive compliance to proactive facilitation of web3 friendly regulation. Amidst this proactive regulatory leadership from Hong Kong, Japan, Singapore, and South Korea, EOS is planting seeds of collaboration and growth. During this last quarter, I secured my Hong Kong residence visa, underscoring a personal and organizational commitment to cultivating deep-rooted connections in a region where governments are not just observers but active facilitators in the blockchain landscape.
The recent whitelist approval by the Japan Virtual and Crypto Asset Exchange Association (JVCEA) and Japan’s Financial Services Agency (FSA), heralding EOS’s entry into the Japanese market, signifies more than an achievement; it epitomizes the global trust and confidence in EOS’s reliability, security, and innovation. In tandem, our engagements with Hong Kong’s InvestHK, Cyberport, and strategic developments with other regional industry leaders, are not simply collaborations but waypoints on the path towards weaving the EOS Network into Asia’s economic and technological framework.
These waypoints in Asia are also mirrored by significant internal EOS ecosystem developments. In February, we witnessed the roll-out of a system contract that transformed the EOS Network’s internal funding distribution. This innovation makes it possible to programmatically allocate network issuance, leading to a direct funding mechanism for contributors and creating the possibility for more robust and autonomous ecosystem development.
In Q3 we saw the emergence of EOS Labs, led by the visionary Huaqiang Wen. Driven by a mission to synergize web3 companies with resources, insights, and infrastructure, EOS Labs is poised to be a vital new organ of the EOS Network serving to invigorate the ecosystem. Towards this end, the ENF has committed 25% of its budget to see the potential of EOS Labs realized. In time, should the EOS Network block producers deem it beneficial to the network, they will now have the ability to begin funding EOS Labs directly through the aforementioned system contract. In this way, the ENF is helping to facilitate a process of new, specialized entities coming into being, lessening dependence on any one organization, and further increasing the antifragility of our network.
Our technological foundation also continues to evolve through the relentless pursuit of excellence by EOS engineers as they advance the free and open source Antelope Leap software underpinning our network, as well as all other Antelope based blockchains that make use of it. The forthcoming release of Leap 5 brings even greater flexibility, speed, and efficiency to an already world class Layer 1 blockchain. Alongside this crucial work, our development of the EOS EVM, and an industry leading trustless bridge, speak to our unwavering commitment to reliably and securely increase interoperability with the wider blockchain ecosystem of which we are a part.
“To an outsider, the chaos might appear overwhelming.”
—Ori Brafman, The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations
In Brafman and Beckstrom’s seminal work, “The Starfish and the Spider”, they liken decentralized networks to a starfish that can regenerate its own limbs. Starfish organizations can adapt and survive despite outside pressures, and because they don’t rely on a single leader or central command, each part can operate independently while remaining integral to the whole. Spider organizations, by contrast, rely on a single central entity, without which they cannot continue to survive. Each new initiative within the EOS Network, such as EOS Labs, signifies the emergence of an adaptable and autonomous segment of our whole. Each partner, each node within the broader EOS ecosystem represents the potential for additional segments to emerge. Our network’s evolution is not linear, it is a living, organic process, informed by a multitude of network participants. Each participant contributes to our progressive antifragility, as they develop more informed responses to the beautiful chaos through which we move.
Each evolution, each setback, each alliance, is an important step on the journey. The road that we walk may be fraught with uncertainty, but we can see the true potential of the EOS Network more clearly than ever. We’re not just passive witnesses to an unfolding narrative, but active participants in a dynamic process of network evolution. With each step, we will continue to discover a network that reflects our collective strength and vision.
Onward,
Yves La Rose
The EOS Network Foundation (ENF) is pleased to share recent news from Upland with the EOS community, EOS Network Ventures (ENV) has made a strategic investment of $1.5 Million into Upland, the web3 Metaverse Super App. This is part of Upland’s Series A funding round, in which they secured $7 Million in total funding from several investors, including ENV, Animoca Brands, C3 Venture Capital, and angel investors. This news will play a major role in growing the GameFi and metaverse community on EOS, while driving demand for the network from its ecosystem of over 3 million registered accounts. Upland users are granted a full EOS account as part of its onboarding experience, which abstracts away private keys and resource management to provide a web2 experience for user acquisiti.
Check out the official announcement below and keep reading to learn more about both EOS Network Ventures and Upland. At the end of this piece, we’ll be discussing how you can start getting involved in the Upland metaverse.
ENV is a venture capital fund whose mission is to attract capital investment and deploy that capital for the benefit of the EOS Network as a whole. The organization is in the process of making a number of strategic investments in alignment with this mission. Upland is an important part of that vision, bringing an accessible metaverse to the EOS Network and helping to foster an engaged community of gamers, developers and notable partnerships with projects like FIFA World Cup Qatar 2022™ and FIFA World Cup Australia & New Zealand 2023™.
Upland is a Metaverse Super App mapped to the real world that aims to bring the future of the immersive web to life. The application appeals to both players, creators and developers, offering a number of ways to engage including virtual property trading, world-building, collecting, and fun competitions like car racing. The platform also empowers entrepreneurs to establish businesses in the Metaverse that help foster a healthy digital economy powered by UPX, the native currency of Upland, and Spark, a utility token that fuels value creation.
EOS has been an important part of Upland’s design ever since it launched. In a recent interview with Decrypt, Upland co-founder Dirk Lueth noted this importance.
‘“We couldn’t use Ethereum because of their gas fees,” said Leuth. After some analysis, the team decided EOS was the “best blockchain” for their needs, and he claimed that Upland is now minting 80 NFTs per second thanks to the blockchain’s technical features. The EOS Network Ventures investment suggests that backers are still trying to grow the ecosystem.’ Read the full article.
Upland also features a strong 3rd party developer ecosystem that allows new projects to be built on top of the Upland Metaverse. Every independent project built using the Upland SDK is also essentially being built on top of the EOS blockchain, which hosts their accounts, transactions, tokenomics, and NFTs.
Through this investment, the ENV aims to support Upland on their mission to build the world’s largest digital open economy. At the same time, this investment will drive value back to the network by supporting Upland in building the Web3 industry’s leading metaverse platform, with nearly 300,000 virtual property owners.
“Upland’s ability to offer a captivating web2 experience that seamlessly abstracts away the intricacies of blockchain technology, while delivering the advantages of true asset ownership perfectly aligns with our vision for the future of the gaming industry,” explained Yves La Rose, Director of EOS Network Ventures. “We are thrilled to announce Upland as the inaugural investment for the ENV’s GameFi fund.”
Along with the investment from ENV, community members can expect to see a lot more news and updates coming from Upland over the next few months. The most notable of these is the upcoming initiative to enable Upland’s new token “Spark” to be tradable on Ethereum via a Token Tradability Event for a new token called Sparklet which can be converted into Spark (on EOS) at a 1/1000 value.
Learn More About Spark/Sparklet Tokenomics
This will be the first time that Spark has been tradable outside the Upland platform. Deploying an ERC20 token on the Ethereum will allow the project to access broader liquidity from other ecosystems while also being transferrable to EOS for its utility function where the Upland application and gameplay logic are deployed. Spark is also expected to have liquidity across other blockchains beyond Ethereum, including EOS, after launch.
Increased usage and users on Upland’s smart contract will help foster even further demand for EOS blockspace, driving value back to the ecosystem. All users on Upland are also provided with a free EOS account when they sign up, which serves as an important on-boarding mechanism into EOS.
This addition of an ERC20 token comes during a time of growing popularity for EVM technology, both on EOS and the broader Web3 space. With the recent launch of EOS EVM, more projects on the network are expected to begin building out support for native and EVM functions in an effort to offer the most accessible user experience possible.
To stay in the loop on all of this, be sure to connect Upland in the following places:
Don’t forget to follow the EOS Network Foundation on X and stay in the loop on this and other news. Also, join the EOS Community Discord to connect with like minded builders and EOS enthusiasts. Lastly, check out the EOS Events page for details on upcoming digital and in-person events that you don’t want to miss!
Upland, the Metaverse Super App, is a web3 metaverse platform mapped to the real world on a mission to build the largest digital open economy. Its ecosystem is a diverse community of players, entrepreneurs, creators, developers, and brands, all benefiting from true ownership and guaranteed intellectual property rights powered by blockchain technology. Currently, Upland is one of the most widely-used web3 platforms with over 3 million registered accounts, nearly 300,000 landowners, and has sold more than 6 million NFTs. The platform offers various activities for players and creators, including virtual property trading, world-building, collecting, and fun competitions like car racing. Metaverse entrepreneurs can also operate their own shops, contributing to a thriving economy powered by UPX, the native currency which serves as a medium of exchange, and Spark, a utility token that fuels the value creation by a highly-engaged community. Upland is headquartered in Silicon Valley, with additional offices in Las Vegas, Ukraine, and Brazil. It was founded by serial entrepreneurs in July 2018 and launched in June 2019. Upland is accessible on the web, the App Store, and Google Play, allowing users from around the world to experience the metaverse.
Upland Website | X (Formerly Twitter) | Discord | Apple App Store | Google Play Store
EOS Network Ventures (ENV) is a venture capital fund with a mission is to attract capital investment and deploy that capital for the benefit of the EOS Network as a whole. A portion of this capital is funded by the EOS network on behalf of EOS token holders, with the remainder of funding coming through partnerships with external liquidity providers. EOS Network Ventures makes strategic equity and token-based investments into tech startups across the Web3 space that are deploying on the EOS Network. The intent of these investments is to support the adoption of the EOS Network into innovative new business models that leverage blockchain
technology.
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
EOS Website | X (Formerly Twitter) | Discord | LinkedIn | Telegram | YouTube
Click here to learn more about all of the new features for EOS EVM.
This release marks a key milestone in the EOS ecosystem’s journey, as seamless interaction between EOS Native and EOS EVM is enabled.
EOS EVM v0.6.0 enhances the trustless bridge’s functionalities while keeping the platform fully EVM-compatible. Previously, only EOS could traverse the trustless bridge, however the upgrade to EOS EVM 0.6.0 will widen the horizon to the EOS Native version of USDT, which will be represented by an ERC-20 Token on the EOS EVM.
This new feature allows for users on EOS EVM access to USDT (EOS) without relying on any trust assumptions or 3rd party bridges.
Token Contract Address on EOS EVM: 0x33b57dc70014fd7aa6e1ed3080eed2b619632b8e
Token Contract Address on EOS Native: tethertether
Depositing USDT to the EOS EVM can be done by initiating a token transfer for USDT (tethertether) to the ‘eosio.evmin’ EOS account with the receiving EVM public key in the memo field.
USDT can now be deposited and withdrawn to and from any centralized exchange that supports Tether for EOS Native. These exchanges include Binance, Bitfinex, Kucoin, MEXC, and GateIO.
USDT (EOS) can now be withdrawn from EOS EVM to EOS Native using the trustless bridge frontend.
Want to learn more about the EOS EVM and how you can take advantage of its unmatched performance? Check out the resources below:
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
Web3 was born out of the values of trust, transparency, and accountability. The EOS Network Foundation (ENF) aims to adhere to these principles in its work to foster the adoption of the EOS network. The Program and Operations Health Reports are an integral piece of this mission, with the goal of keeping the community updated on all the work that’s going on across the entire ecosystem.
October was an exciting month for the entire ecosystem and the latest report exemplifies that. Check it out for updates on projects like Inter-Blockchain Communication (IBC), BLS Cryptographic Primitives, High-Performance Parallel Reads, Memory Footprint Reduction, and more.
You can read the most recent report below and if you’re interested in catching up on previous months, you can find them on the ENF Github.
In a continued effort to grow awareness for the EOS EVM ecosystem, the EOS Network Foundation (ENF) is delighted to announce that EOS EVM has been integrated into DappRadar, an industry leading dApp library and data analytics platform. This collaboration will make it easier for those deploying applications on the EOS EVM to reach a wider audience in the broader Web3 space.
DappRadar is a platform that makes it easy for users to explore the wide breadth of applications that are available across the Web3 industry. The tool indexes over 14,000 dApps and more than 33,000 NFT collections, across 54 chains. Users can sort through applications across a number of industry categories such as games, NFTs, and DeFi, then view notable metrics such as unique active wallets, transactions, and more.
Until now, only EOS Native dApps could be tracked on the DappRadar platform, but this latest integration extends that functionality to the EOS EVM. Those interested can head to the DappRadar EOS EVM Page to check out the dApps that are currently listed there. There are many more that are deployed but have not yet been included and all builders with projects live on the EOS EVM are encouraged to submit their project through the DappRadar submission form.
On October 17th at 3:00 pm UTC, the ENF is hosting a Space on X with DappRadar, and the EOS Community is encouraged to come join the discussion. Learn more about the latest trends across the Web3 industry and what sort of projects have been most successful during the current market cycle. Attendees will also learn more about the recent integration of EOS EVM and how developers can leverage this platform to grow their application’s user base. Be sure to set a reminder to be notified when the event goes live.
Enabling data and analytics for EOS EVM on the DappRadar platform presents a valuable opportunity for dApps to attract a broader user base. The data tracked through DappRadar will also make it easier for people to learn more about the activity going on across the EOS EVM. To ensure your project is included, be sure to fill out this form for listing on DappRadar. EOS Native applications can also apply to be listed here.
Those interested in learning more about this integration are encouraged to come out to the ENF’s event with DappRadar on October 17th at 3:00 pm UTC. Set a reminder and join the conversation on the latest Web3 trends.
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
The EOS EVM is an emulation of the Ethereum network’s EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
ENF Website | Twitter | Discord | LinkedIn | Telegram | YouTube
The EOS EVM team shared their new roadmap earlier this month, revealing the hard work they have put into innovation and understanding the needs of builders.
The roadmap will ensure that critical features and fixes will be in place to maintain EOS EVM’s leading position in Web3.
Check out the full article to view the roadmap up to Q1 2024 and find helpful EOS EVM resources.
Less than a week after the roadmap was released, the EOS Network Foundation (ENF) announced that the EOS EVM v0.6.0 is code complete.
The ENF also revealed exciting GameFi news this month with PlayZap Games launching on the EOS EVM to take advantage of its high performance and super low transaction fees.
Targeted to casual gamers, PlayZap makes it easy for people to check out the game without any blockchain-related hurdles that may discourage them from playing.
With this partnership, EOS EVM cements its position in the GameFi space by proving that it can handle substantial and varied network activity while ensuring smooth gameplay and transparent financial transactions.
Read the article for more about PlayZap, their role in GameFi on EOS, and how to get playing.
The launch of EOS EVM v0.6.0 on October 16th will bring a rejuvenated DeFi experience, robust technical upgrades, and trustless USDT bridging.
Most notably, the Trustless Bridge frontend will introduce the ability to seamlessly transfer USDT (EOS) tokens between the EOS Native environment and the EOS EVM environment using a simple user interface. EOS EVM engineers anticipate that future upgrades will incorporate more EOS Native tokens.
With the new features in place, we will see the arrival of what has been called “cross machine virtual communication.” The EOS EVM, being a blockchain virtualization on EOS, can now begin to use EOS Native multisig capabilities, and more.
Read the full article to learn more about why EOS EVM v0.6.0 is a game-changer
September 21st marked the first anniversary of EOS Independence Day, when the network took control by shifting to the community-run Antelope Leap codebase.
With this move, the EOS community became independent of the old codebase that had become problematic due to the original maintainer’s neglect. Celebrate the anniversary of this milestone with us by entering the EOS Independence Day giveaways!
Learn how to enter the contest (and how you can win EOS prizes!) in the article.
A number of recent developments have moved us closer to an interoperable future, where different blockchains will be able to seamlessly interact. Achieving interconnected ecosystems will reduce inefficiencies and expand the utility of blockchain applications.
The future is multi-chain and the EOS Network’s commitment to interoperability is a necessity, with Antelope IBC functionality, development on the EOS EVM trustless bridge, and integration of Pyth Network all playing a key role.
Dive deep into this topic and discover the transformative potential of an interoperable future.
The EOS Network Foundation (ENF) and Upland, in collaboration with Aerial, are creating a more sustainable future with an initiative that will move the EOS Network from carbon-neutral to climate positive.
Climate positive means the network is not only offsetting its carbon emissions but actively removing additional carbon dioxide from the atmosphere.
Read the full article to learn how the ENF calculated the network’s carbon footprint, and how all three organizations are participating in and promoting green practices to inspire others to do the same.
Pomelo Grants is an open-source crowdfunding platform that funds Web3 projects. Supporters donate small amounts to the projects they value most, and then the donations are matched from a pool of funds provided by a matching partner. Pomelo uses quadratic funding to determine each project’s share of the matching pool.
The EOS Network Foundation funded two matching pools for Season 7, one for EOS Native and one for EOS EVM, each with $75,000 to be distributed to eligible projects.
To qualify, funds must be used to build public goods that benefit the EOS Native or EOS EVM ecosystem. You can submit your grant applications from September 20 to October 11 and make your donations from September 27 to October 18. Get involved!
Values like trust, transparency, and accountability are central to Web3. The EOS Network Foundation’s monthly health report is one way we demonstrate our commitment to these values and keep the community informed of our progress.
See updates on projects like the Automated Replay Test, EOS Website Upgrade, P2P Improvements, Regression Test Harness, and many more.
September was another busy month for the EOS Network Foundation (ENF) on X (formerly Twitter) Spaces. If you missed these events, you can listen to the recordings below. First up, Nathan James, Director of Developer Relations at the ENF, hosted a Getting Started with Wharf webinar presented by Aaron Cox of Greymass. This event focused on how to build web apps on Antelope with the Wharf Session Kit.
Next, the ENF hosted a GameFi panel with guests from Upland, PlayZap, and the Blockchain Game Alliance, where listeners learned how we can increase adoption of Web3 games using accessible gaming environments.
Plus, in celebration of EVMNS on the EOS EVM, the ENF hosted an AMA (ask me anything) with Brandon Lovejoy and the EVMNS team. Listen to the discussion to learn all about this distributed, open, and extensible multi-chain DID domain naming system.
CEO and founder of the EOS Network Foundation, Yves La Rose, was in Korea and Singapore in September, attending Korea Blockchain Week and Token 2049.
As part of EOS’ presence at Korea Blockchain Week, Yves spoke on a Game Ascend 2023 panel, Crypto Game: Play vs. Gambling. Game Ascend events focus on the development and commercialization of Web3 gaming.
For more from Korea Blockchain Week, check out this interview of Yves with Zach from Genzio.
Then Yves traveled to Token 2049 in Singapore, where he gave a keynote speech at the Web3 & Real-World Assets side event on how Web3 projects are providing new frameworks for ownership and trade. He was also a panelist exploring the possibilities of Web3 in the roundtable discussion, Empowering Innovation.
Attention aspiring Web3 developers! You can now build your own Tamagotchi dApp using EOS. Follow the tutorial, guided by Nathan James, Director of Developer Relations at the EOS Network Foundation.
You’ll learn:
If a Tamagotchi dApp doesn’t ignite your creative spark, build the latest trend in productivity apps, the to-don’t app! Follow the tutorial with Nathan James and create an app where you check off a task every time you don’t do it. The build will only take 20 minutes so you can get back to your day that much sooner!
NovaCrypto founder Patrick Bernard Schmid (aka PatNovaJoy) continues his educational series of interviews with notable figures throughout the Antelope ecosystem in Antelope Swiss Workshop #22, featuring interviews with Jesse Jaffe of EOS Bees, Domenic Thomas of Hypha DAO, Daniel Keyes of Pomelo, CAC + Vlad + Lennar of EOSDEN, & Maurice Vanegas on HuFi. Check out this Podsum of all the Antelope Swiss Workshops or click on the NovaCrypto playlist below.
The EOS community also hosts many online events that anyone can join every week:
More details and additional events can be found on the ENF Events Page.
EOS Network
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
EOS EVM
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
EOS Network Foundation
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
The monthly EOS Block Producer (BP) meetings are intended to establish regular communications between the top 30 EOS BPs and the EOS Network Foundation (ENF), to foster an open dialogue between network operators and custodians in support of the mutual development of the EOS ecosystem.
The meeting began at 1:00 UTC on September 27th, 2023. 21 BPs attended the call, and a total of 28 people participated in the discussion. The Interprefy tool was used in the call for synchronous translation to facilitate the free flow of information across multiple languages in real-time.
Beatrice Wang, Communications Manager for the ENF, greeted those in attendance and kicked off the meeting with a brief overview of the topics to be discussed.
ENF Founder and CEO Yves La Rose began the discussion with an update on the forthcoming release of Leap 5.
Yves revealed that issues were discovered during the integration phase of incorporating Instant Finality into Leap 5 which would bring a low-to-medium risk for either a double spend or halt in operations. This risk to the network is non-negotiable for deployment. Consequently this will require a couple of extra months for ENF engineers to sort out in partnership with the UX Network team. Leap 5 will still ship with a number of innovative new features, while Instant Finality will be included in the next major release, Leap 6, as it is a consensus upgrade (hard fork).
This update goes into greater detail around the rationale for the pivot as well as the ample features still contained within Leap 5.
Additional context can also be found in the September 28th Antelope Coalition call.
EOS was the world’s first carbon neutral blockchain. This initiative was originally led by block producer EOS Authority beginning in November 2018, while Upland, the open web3 metaverse super-app mapped to the real world, has been driving sustainability efforts on EOS as a carbon offset sponsor since 2021. This year we’ve partnered with Upland to be able to continue that, and have taken things a step further and we are now climate positive. Being climate positive means that we are going beyond achieving net-zero carbon emissions to create an environmental benefit by removing additional carbon dioxide from the atmosphere.
EOS Labs Founder and CEO Huaqiang Wen next delivered some remarks on the recent activities of EOS Labs.
EOS Labs has recently communicated with a total of 107 projects, of which 22 are investment-related. Four of the investments are onboarding. ENV will disclose the final investment results at the appropriate time.
The EOS EVM Mainnet Bridge will soon support USDT and other native assets. Third-party decentralized bridges will also begin connecting EOS and other public chains.
EOS Labs is cooperating with licensed and compliant institutions such as centralized exchanges to issue BTC, stablecoins, and other assets on EOS. Labs may also introduce Real World Assets (RWA’s) in the future.
EOS Labs is contacting more game developers and platforms with a focus on social games. At the same time, EOS Labs is also exploring the Telegram mini app, so users can play games or use web3 applications without leaving Telegram.
Q: On the topic of social logins, will Discord also be considered to build this easy-onboarding wallet functionality? For example “POP” NFT’s are using this Discord EOS account linking.
A: It will take some time to study; however, the current focus will be on Telegram. At present, it seems that Telegram’s number of users and daily active users are better.
Block Producer Attendee List
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
The much-anticipated release of Leap 5 is on the horizon and is poised to further advance the EOS Network with a suite of enhancements designed to deliver unparalleled value for Developers, API Providers, and Node Operators alike. This iteration of Leap features significant improvements in speed, efficiency, control, and flexibility.
In the pursuit of excellence, EOS Network engineers are dedicated to a considered approach that ensures every feature meets our high standards. After thorough study it has been concluded that Instant Finality, initially slated for Leap 5, will be delivered in a following release.
The primary challenge faced by any blockchain system is ensuring unanimous agreement on the precise sequence of transactions to be processed, among all honest nodes within the network. This agreement is vital as it enables nodes to replicate deterministic computations, achieving identical states at a given block height. This complex issue is commonly referred to as consensus, and over the years, numerous methodologies have been explored to address it, some predating the inception of blockchain technology. While we draw upon a wealth of knowledge from existing consensus research, the demands of public blockchain networks necessitate a combination of stringent properties from the consensus algorithm that have not been thoroughly considered by traditionally available algorithms.
The Antelope protocol’s current consensus algorithm has been the cornerstone of our ecosystem for over five years. It was cutting edge in its time, delivering groundbreaking features to the blockchain space, such as true finality for transactions; however, it also carries limitations from its time. A notable limitation of our current consensus algorithm is its linear scalability with the number of active block producers (BPs). In practice, this means that despite EOS’s rapid 0.5-second block times, with 21 BPs, time-to-finality extends to roughly 3 minutes. Furthermore, if the number of BPs were to double to 42, time-to-finality would likewise double, reaching approximately 6 minutes.
EOS has always been on the leading edge of blockchain solutions, and recent advancements in the study of consensus algorithms have alleviated some of the limitations that EOS currently has. Leveraging an algorithm known as HotStuff we can eliminate the linear scaling constraint. We have an early proof-of-concept that demonstrates a time-to-finality of mere seconds while scaling to a larger number of block producers. However, adapting this algorithm to meet the heightened demands of a public blockchain environment necessitates going above and beyond the academic literature. Effectively, we are in the process of crafting a new consensus algorithm that builds upon the core ideas established in the HotStuff algorithm. When doing this we must take on the responsibility of preserving the safety and liveness of the consensus algorithm. Said plainly, we will prove beyond a shadow of a doubt that the blockchain is safe from double spends. In addition, we will continue to build software that meets the highest standard and runs without interruption.
We wish to stress that it is non-negotiable for us to conduct thorough and comprehensive analysis and testing to ensure the new consensus algorithm possesses the requisite safety and liveness properties. For such a pivotal component of the EOS Network, our threshold of assurance demands mathematically rigorous proofs demonstrating that the desired properties hold for the new consensus algorithm. We are unwavering in our commitment to sustaining EOS’s uninterrupted operation, which has endured for over five years. We are resolute in ensuring that our software, which is integral to the core operations of the EOS Network, undergoes extensive testing to mitigate any potential risks.
We deeply value your understanding and patience as we iteratively refine the algorithm and its implementation, rigorously test the software, and generate mathematical proofs for subsequent peer review. Rest assured, we remain steadfast in our commitment to delivering a product that upholds the highest standards of reliability and trustworthiness.
Leap 5 is set to greatly enhance the EOS Network, providing a solid foundation upon which to merge the future consensus upgrade required by Leap 6, while still offering significant improvements for Developers, API Providers, and Node Operators. The update focuses on four primary themes: Relax Constraints, Increase Speed, Improve Efficiency, and Enhance Control.
Leap 5 modifies the behavior controlled by two parameters that constrained the execution of smart contracts.
The first parameter is max-nonprivileged-inline-action-size which is removed from Leap 5 so that the only constraint on inline action size comes from the objective limit (max_inline_action_size) that is managed on-chain.
In practice, this change means smart contracts can send larger payloads via inline actions when communicating with other contracts. For example, EOS EVM’s new call action could be used to deploy EVM contracts greater in size than 4 KiB from an EOS smart contract.
The second parameter is max-transaction-time which is given a new default value so that transaction wall-clock deadline is effectively driven by the objective limit (max_transaction_cpu_usage) that is managed on-chain.
In practice, this change means transactions can do more work within the longer time duration allotted to them. For example, EOS EVM can take advantage of the relaxed transaction wall-clock deadline to successfully execute more computationally-heavy EVM transactions that may have been rejected previously.
Leap 5 promises a 4X speed boost for ABI intensive requests, enabled by non-blocking deserialization. It also expands the scale of read-only transactions through parallel processing on up to 128 threads.
Furthermore, EOS VM OC can now be used to better optimize select smart contracts to execute the same smart contract code often in a significantly shorter window of time. This optimization is currently only limited to trusted smart contracts that are deployed to accounts that have a name starting with the “eosio.” prefix.
The smart contracts for EOS EVM are deployed on accounts with the “eosio.” prefix which means EOS EVM can take advantage of the speed improvements enabled by the optimization feature. This provides further ways for computationally-heavy EVM transactions to fit within the limits imposed by the transaction wall-clock deadline.
Antelope networks become more cost-effective with Leap 5, thanks to features like streamlined sync and memory-optimized chainbase, reducing state memory consumption by approximately 20%.
Node operators gain enhanced control options, including the ability to customize node setups, troubleshoot peering challenges with Prometheus logging, and benefit from efficient, secure local-only connections.
As we usher in the era of Leap 5, distinct improvements tailored for Developers, API Providers, and Node Operators alike mark the evolution of the EOS Network. This new version exemplifies a harmonious blend of enhanced performance, scalability, and efficiency, crafted with precision to cater to the diverse needs of its users.
Developers will enjoy an environment where the bounds of transactions are expanded, paving the way for complex computations and interactions between contracts.
For API Providers, Leap 5 is synonymous with amplified performance. With improved read capabilities, APIs are not only faster but are crafted to deliver unmatched reliability and scalability. Every interaction is designed to be a seamless experience, echoing the ethos of speed and efficiency.
Node Operators aren’t left behind in this journey of transformation. Leap 5 promises enhanced transaction processing efficiency, a testament to the meticulous engineering that underpins it. With a reduced memory footprint and enriched control over networking, node operators are equipped with tools that are not just powerful but intuitive, and responsive.
Certain enhancements, although present in the Leap 5 software, are protocol level features and will not be available until their corresponding protocol features are activated. While EOS will not be performing a consensus level upgrade this year, these enhancements are still available for any Antelope chains (especially test chains) to adopt earlier.
New host functions allow smart contracts to carry out mathematical operations with the BLS12-381 elliptic curve. When activated, smart contracts could use these host functions for various applications including new zero-knowledge proof systems.
We began the process of disabling deferred transactions on the EOS Network by asking node operators to change a configuration option which modifies the behavior of their block production nodes such that the Leap node would disallow deferred transactions from successfully completing within the blocks it produces. Leap 5 takes the next step in this process by enforcing that behavior change in code. Leap 5 block production nodes block inclusion of any new user-submitted delayed transactions.
Leap 5 also introduces new protocol features that, when activated, completes the process of disabling deferred transactions by making changes to the protocol rules so that no new deferred transactions could be added to the blockchain and any existing deferred transactions would be rapidly canceled with an expired status.
We’ve outlined the key enhancements that Leap 5 brings to Developers, API Providers, and Node Operators. Each improvement is a reflection of the ongoing commitment to evolving the EOS Network, ensuring that it’s not only robust, but also efficient and user-friendly.
This journey is iterative. Our adaptation stems from a strategic commitment to balancing innovation with the highest standards of reliability and performance that are characteristic of the EOS Network. In that spirit, we will continue to refine those features such as Instant Finality, now scheduled for a Leap 6 release, in line with our usual autumn consensus upgrade (hard fork) release cadence.
Stay tuned for upcoming articles that will provide a deeper dive into each Leap 5 feature discussed here. We aim to offer clarity, insight, and detailed information to keep our community well-informed and engaged in the development of the EOS Network. We’re grateful for your patience and eagerness to embrace upcoming innovations.
Check out the recent Antelope Coalition call where additional details of the Leap 5 consensus update were covered in depth by the representatives from Coalition chains EOS, WAX, UX Network, and Telos.
EOS Network
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
EOS EVM
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
EOS Network Foundation
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
EOS Network Foundation (ENF) engineers are consistently pushing the envelope in the areas of performance and interoperability, and today we highlight these efforts with an overview of the forthcoming October 16th launch of EOS EVM v0.6.0!
This update not only brings significant technical enhancements to the underlying infrastructure of the EVM, but a fresh suite of features are being introduced to advance the ecosystem’s DeFi capabilities. Perhaps the most highly anticipated element of this release is the ability for users to bridge USDT from the EOS Native layer to the EOS EVM in a completely trustless manner.
This release will mark a key milestone in the EOS ecosystem’s journey, as seamless interaction between EOS Native and EOS EVM is enabled.
EOS EVM v0.6.0 enhances the trustless bridge’s functionalities while keeping the platform fully EVM-compatible. Previously, only EOS could traverse the trustless bridge, however the upgrade to EOS EVM 0.6.0 will widen the horizon to the EOS Native version of USDT, which will be represented by an ERC-20 Token on the EOS EVM.
Given USDT’s significance in DeFi, this development is poised to amplify the Total Value Locked (TVL) along with liquidity on both native EOS and the EOS EVM. Although this new feature is currently limited to the USDT and EOS, future upgrades envision incorporating more EOS Native tokens.
Stablecoins, like USDT, are indispensable in the DeFi space and offer a range of benefits including:
This release adds two new mechanisms which provide the foundation necessary to expand the Trustless Bridge far beyond its initial capabilities:
The EOS EVM Contract now has a new action named “call” that allows any contract on EOS Native to call a function on EOS EVM.
A new feature called “bridge messages” has been introduced, allowing strictly validated messages to pass between EOS EVM and the EOS Native, which gives EOS EVM the ability to call functions on native.
The release of EOS EVM Bridge Contracts demonstrates how these mechanisms can be used to enable other tokens on EOS such as USDT to be moved across the Trustless Bridge to the EOS EVM side and then back to the EOS Native side, but they open the door for unlocking a great deal more.
With these new features in place we are witnessing the advent of what has been described as “cross machine virtual communication”. The EOS EVM, being a blockchain virtualization on EOS, can now begin to utilize EOS Native multisig capabilities, and more. This is a truly unprecedented development that creates a best of both worlds scenario.
Combined, these mechanisms create the potential for highly novel use-cases to emerge between EOS Native & EVM including:
Members of the EOS developer community are already exploring potential implementations of these use-cases. It will be exciting to see how the various teams building on both EOS Native and EOS EVM use their newfound powers.
To realize the above advancements, EOS EVM underwent a series of intricate technical adjustments that are covered in more depth within their respective github repos linked to below.
In essence, EOS EVM v0.6.0 is a game-changer. It offers a rejuvenated DeFi experience, robust technical upgrades, and trustless USDT bridging. For those keen on diving deeper, here’s an introduction to the EOS EVM. If you’re ready to test the waters, visit the EVM Trustless Bridge and begin your journey today.
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
The EOS Network Foundation (ENF) and Upland, in collaboration with Aerial are proud to announce a groundbreaking initiative that will advance the EOS Network beyond its status as the world’s first carbon-neutral blockchain to being a climate positive blockchain network.
To be climate positive means that activity goes beyond achieving net-zero carbon emissions to create an environmental benefit by removing additional carbon dioxide from the atmosphere.
Carbon offsetting refers to the process of compensating for greenhouse gas emissions by investing in projects that reduce or remove an equivalent amount of carbon from the atmosphere. This mechanism aids in combating climate change and promoting sustainability. As the Web3 ecosystem grows, it becomes imperative to embrace practices like carbon offsetting to ensure a greener future.
Recognizing the importance of carbon offsetting in mitigating the environmental impact of blockchain technology, the ENF sought collaboration with Aerial, a leading sustainability platform, and Upland, a metaverse superapp mapped to the real world that simulates several aspects of life and economy.
The EOS Network’s consensus mechanism consumes significantly less energy compared to many other cryptocurrencies. For instance, a single transaction in the EOS network requires only 0.00122923 Kilowatt-hour (KWh), making it one of the more environmentally friendly options.
To further comprehend EOS’ carbon footprint, it was essential to evaluate the methods used to calculate it. By conducting a comprehensive survey across Block Producers (BPs) within the EOS Network, the ENF gathered vital information regarding the total energy consumption.
These findings revealed:
The EOS Network’s architectural design offers low power consumption while delivering record breaking scalability and throughput that merges the effectiveness of immutable, decentralized systems with environmental responsibility. EOS ranks among the most environmentally friendly blockchains globally, with an annual carbon footprint of a mere 242 tonnes of CO2, a figure that has been fully offset since 2018 thanks to the pioneering efforts of the EOS Block Producer Team EOS Authority
Based on these calculations, ENF determined the EOS Network’s carbon footprint.
The ENF has chosen to invest in an Afforestation project based in Zunyi, within the Guizhou Province of China in recognition of the EOS Chinese community.
This project involves planting native species on barren lands, thereby increasing greenhouse gas removal and contributing to the U.N Sustainable Development Goals (SDGs). The Sustainable Development Goals (SDGs), are 17 goals that were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity.
Source: United Nations Development Programme (UNDP)
The primary objectives of this initiative include soil and water conservation, generating income and job opportunities for local communities, sequestering greenhouse gases, and enhancing biodiversity conservation.
So far, the project has:
The project also plays a crucial role in protecting the endangered Francois’ Leaf Monkey
Upland, an open web3 platform for the metaverse mapped to the real world, has been actively involved in EOS’ sustainability efforts as a carbon offset sponsor since 2021. Their own sustainability efforts also extend beyond blockchain infrastructure by offsetting their carbon footprint for the cloud services that help power the Upland metaverse.
“We are excited to collaborate with the EOS Network Foundation in this groundbreaking initiative to achieve climate positivity,” stated Danny Brown-Wolf, Chief of Staff of Upland. “Upland has been committed to environmental sustainability since the day we started. We’re proud to help EOS become a climate-positive blockchain network.”
Upland has elected 3 projects in Brazil, the U.S., and Germany, countries where Upland has open cities in-game.
GreenTrees is reforesting one million acres of marginal farmland in the Mississippi Alluvial Valley.
To date, GreenTrees has planted over 42 million trees on 120,000 acres, in partnership with private landowners.
The tree plantings have generated millions of tons of verified carbon credits that are registered on the American Carbon Registry (ACR). These credits account for the vast majority of domestic forestry credits ever registered on the voluntary market.
This project enables farmers to utilize and enhance the soil’s potential as a carbon sink, sequestering atmospheric CO₂ and permanently storing it in the soil—where it belongs and has far-reaching benefits and is tracked using a digital version of their farm on the Klim platform following registration. The validity of the farm data is verified by Klim via publicly available data.
Farmers subsequently create individual digital fields for implementation of project scenarios. The size of those fields is verified by Klim using remote sensing data. In addition, Farmers can participate in various management modules to generate GHG-ERR. Therefore, farmers create annual management scenarios that are verified yearly and used to calculate climate change mitigation performance and payouts, compared to a 3-year baseline.
This project aims to protect forests located in one of the regions having the highest deforestation rate in the Amazon biome: the municipality of Lábrea. The “Arc of Deforestation” has already reached the southern region of the Lábrea municipality, making it one of the most deforested municipalities in the Amazon biome over the past ten years.
Besides the damage caused to natural ecosystems, land-use changes have provoked severe social conflicts due to land grabbing and the implementation of agriculture and cattle ranching activities, contributing to expulsion of family-scale forest extractives from that region.
Collaborating with Aerial, a sustainability platform that partners with verified environmental efforts globally, the EOS Network Foundation acctively reduced carbon emissions while inspiring others in the blockchain industry to adopt climate positive strategies.
“Partnering with the EOS Network Foundation and Upland in this climate positive initiative is an important milestone in the sustainability journey of the blockchain industry,” commented Andreas Horner, CEO of Aerial. “We are honored to collaborate with such forward-thinking organizations that are dedicated to environmental responsibility and making significant positive changes.”
The EOS Network Foundation and its partners aspire to set a new standard in sustainability within the blockchain industry. Through their actions, they aim to inspire and encourage other networks and applications to embrace climate positive strategies. Together, they believe in creating a sustainable digital economy and a lasting positive impact on our planet.
The ENF’s partnership with Upland and Aerial exemplifies the power of collaboration in making a meaningful impact on the environment.
By calculating their carbon footprint, offsetting emissions through sustainable projects, and promoting green practices, these organizations inspire others within the Web3 ecosystem to adopt similar initiatives.
As climate change continues to pose a significant threat, ongoing efforts to combat it are essential. In achieving climate positivity, the ENF sets a commendable example and serves as a catalyst for a more sustainable future in Web3.
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
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