Multi-Billion-Dollar Blockchain Project ‘EOS’ Is Facing Potential Crisis, Reports

By Kapil Gauhar

As indicated by a new report, the multi-billion-dollar blockchain venture EOS is confronting a likely emergency in the wake of witnessing an 86% decrease in ‘engineer action’ over the past year.

As per the Blockchain Developer Report (Q2 2020) by crypto-centered project capital firm Outlier Ventures, the world’s biggest ICO venture EOS is confronting a potential developer crisis.

The report claims despite the fact that ‘most of significant protocols saw a moderate decrease in developer action (close to 20%)’, probably at least partly because of the COVID-19 pandemic, TRON (-51%), Bitcoin Cash (-63%), and EOS (-86%) ‘saw the biggest declines in dynamic developers’ –

“In the case of EOS, there is likely continued decline following the 2019 launch of its main network and core developers moving away from the protocol…”

The company’s researchers likewise tracked code development, as measure by ‘week by week submits and code updates over time to the core protocol association repository,’ and found that EOS (-94%), TRON (096%), and Maker (-98%) ‘saw the biggest declines in weekly code updates.’

Subsequent to raising more than $4 billion for its ICO in 2018, the EOS blockchain has kept on failing behind Ethereum in both smart contracts as well as daily dApp users.

As indicated by the report, Ethereum represents over 80% of every single smart contracts and decentralized applications (dApps) in the decentralized space, with EOS arriving in a distant second at 9%.

Kapil Gauhar

Kapil Gauhar is the founder of Blogger’s Gyan. He is a Passionate Blogger, a Big Thinker and a Creative Writer. His passion for doing friendship with words and letting people know about the wonders of the Digital World is what motivates him to take writing as a career.

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