In response, the network’s founder Yves La Rose announced the project’s “comeback is inevitable” after a long downtime and lack of upgrades

Vitalik Buterin called the EOS blockchain “ether on steroids”

28.06.2022 - 10:25 Vasiliy Smirnov Vasiliy Smirnov

What’s new? Ethereum co-founder Vitalik Buterin noted that the name of the EOS blockchain stands for “Ethereum On Steroids.” In his Twitter post, he stated that the EOS team has learned from “Ethereum’s amateurish naivety and idealism” and has formed a team of professional developers to create a blockchain with higher scalability and speed. Users’ opinions on whether or not this is sarcasm are divided.

Reaction by the EOS representatives. Under Buterin’s tweet, EOS founder Yves La Rose wrote that the network’s “comeback is inevitable” after a long downtime and lack of upgrades. The project’s problems began back in 2019 when it attracted the attention of the US Securities and Exchange Commission (SEC) in connection with conducting an unregistered initial coin offering (ICO). The regulator ended up ordering it to pay a $24 million fine. La Rose added that millions of dollars have been invested to update and revitalize the ecosystem during 2022.

In another thread, La Rose said that the blockchain can enable more than 100 million transactions per day. According to him, the new redesigned EOS will be even cheaper and faster, but it does not claim to be the “ETH killer.”

What is known about EOS? It is a blockchain network with support for smart contracts, launched in 2018. The platform has the native token of the same name, which is needed to buy computing resources when running decentralized applications (dApps). The network uses the Delegated Proof-of-Stake (DPoS) consensus mechanism.

As of June 28, 10:30 UCT, the EOS token is trading at $0,994, down in price by 2,55% in 24 hours, according to Binance.

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