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Following the announcement, the price of EOS shot up by over 20%.
Members of the discontinued EOSIO community have coalesced with Telos, Wax, and the UX Network to create the Antelope protocol. The protocol is an open framework that’ll enable the building of next-generation Web3 products and services.
The release of Antelope is key to the resurrection of EOS. Recall that in 2021, Block.one discontinued support for EOSIO development, putting every EOSIO-based blockchain in jeopardy. Consequently, members of the EOS Network funded the EOS Network Foundation (ENF) to revamp the EOS ecosystem. The move eventually birthed the EOSIO+ coalition, which raised about 8 million to rejuvenate the ecosystem.
According to Yves La Rose, CEO and Executive Director of EOS Network Foundation, the protocol will leverage the strengths of the combined networks backing it. “We are building upon over four years of battle-hardened code and the cumulative knowledge of four L1 chains, all united behind the Antelope protocol,” he said.
Meanwhile, the ENF may still take legal action against Block.one for its past actions. Earlier, La Rose suggested the community may seek up to $4.1 billion in damages.
About the Antelope Protocol
Antelope will run on the DPoS consensus mechanism making it one of the fastest. It acts as the codebase for several secure and user-friendly blockchains, allowing millions of daily transactions.
According to Zack Gall, vice president of communications at the ENF, the switch to the Antelope protocol will occur on September 21. He noted that the code forked since February but has been running on test nets since then. The hard fork in September will be the culmination of the efforts.
Developers and enterprises will be able to build applications, NFTs, and games on the platform. The immediate goal of the coalition is to improve the technical areas of the network. Subsequently, the focus will now shift to developing a broader ecosystem.
Per the announcement, the code repositories for the protocol are being hosted on Github. The ENF also announced that the blockchain node software that implements the Antelope protocol will be called Leap.
Following the announcement, the price of EOS shot up by over 20%. At the time of writing, the token was trading at $1.44, according to CoinMarketCap.