The EOS Network recently celebrated its 5th anniversary, reflecting on the challenges it has faced and highlighting the importance of its community in reviving the scalability protocol.
Launched in 2018, EOS initially gained attention for its network performance and conducting the largest initial coin offering (ICO) in history, raising over $4 billion. However, the project fell short of expectations and faced regulatory issues with the United States Securities and Exchange Commission.
In September 2021, the protocol faced allegations of market manipulation, and the community grew frustrated with the project’s developers.
In response, the EOS Network Foundation (ENF) was formed to rebuild the project and regain control over the network. ENF founder Yves La Rose emphasized the resilience of the community and their commitment to defending the network against corporate greed.
The community’s efforts have led to positive developments, including the launch of the EVM mainnet and securing a $60 million investment in 2023.
The EOS Network continues to handle 100 million transactions per day and has demonstrated its reliability with over 1,800 days of uptime since its launch. The team aims to champion free and open-source software and advocate for innovation moving forward.
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