Everything EOS Monthly Report – February 2024
2024 is in full swing and the ecosystem reached a ton of epic milestones over the past few weeks. The year started off strong with members of the ENF attending two high profile events; the CRYPTO2030 event in Davos, Switzerland, and the Blockchain 2 Government Conference in Phuket, Thailand.
This was followed by a number of exciting technical innovations, strategic investments and more, all of which was covered on the recent Everything EOS Livestream below. If you’re short on time, this article will get you caught up on the most important pieces of information that you need to know.
If you’re a builder in the EOS ecosystem, you can take part in this month’s Developer Challenges for a chance to win up to 1000 EOS. Want to dive deeper and learn about all the growth that EOS has seen over the past year? Be sure to check out the 2023 EOS Ecosystem Recap that was recently released.
Leap 5 Deployed on Mainnet
In early January, the underlying infrastructure for EOS underwent a major transformation with the deployment of Leap v5.0.0. This update is designed to be more performant, efficient, and reliable, with a number of notable achievements including faster execution of system contracts, speed improvements, a reduction in system memory consumption and more.
Following the release, the EOSphere team conducted a number of tests and documented a real world comparison of the improvements in CPU, Memory and Disk IO between Leap v4.0.4 and v5.0.0. In doing so, the team discovered that Leap v5.0.0 boasted lower CPU utilisation, a more efficient memory footprint and easily manageable lower disk IO.
Evolving RAM & Inscriptions Technology on EOS
Inscriptions have been a major talking point across the Web3 industry in recent months and EOS is no exception. When a massive inscription event caused 17M+ transactions in a single day, the user experience on EOS wasn’t hindered and gas fees didn’t increase. In the weeks that followed, EOS saw a slew of inscription projects launching on the network, as well as some interesting innovations to inscription technology on EOS Native.
The Inscription innovations taking place on EOS Native are built on top of RAM, a piece of network infrastructure that has seen a rise in adoption and exploration over the past couple of months. Much of this activity followed a community proposal to stop RAM inflation. There are many ways that RAM is evolving into a critical asset for on-chain activity. The article below dives deep into all of this and more.
Envisioning a BTC L2 Powered by EOS
During the January Block Producer (BP) meeting, ecosystem leaders discussed impact that the Bitcoin ETF, Ordinals and other critical milestones like the Taproot upgrade will have on adoption for Bitcoin over the coming year. Tony Tsao, a long-standing community member involved with the EOS Network since its genesis, framed this as a strategic turning point for EOS, presenting the idea of EOS as a BTC Layer 2 solution. Alongside Tony, members of the EOS Network Foundation (ENF), EOS Labs and BPs weighed in and it was decided that this would be worthwhile to explore the concept, and potential impact further.
Out of this, a small working group was formed of various ecosystem contributors to further discuss what a project like this might look like. Most recently, ENF CEO & Founder, Yves La Rose, posted on X that an early draft for a whitepaper had been completed. When released, this paper will unveil a possible path forward for EOS as a dual Layer 0 and Layer 2 solution for Bitcoin.
ENV Invests in NoahArk Tech Group and EZ Swap
EOS Network Ventures (ENV) is a venture capital fund with a mission to attract capital investment and deploy that capital for the benefit of the EOS Network as a whole. Recently, the ENV announced two major strategic investments that are going to have a big impact on the ecosystem.
The first of these was a $500k investment into EZ Swap, a project that is setting a new standard for gaming asset transactions and inscription technologies. Through this investment, the ENV aims to support EZ Swap on their mission to democratize access to gaming assets and inscriptions, making them more accessible and efficient for users across multiple chains. At the same time, this investment will drive value back to the network by attracting new users, fostering innovative gaming solutions, and enhancing the overall utility and performance of the EOS ecosystem.
The second investment was a $2.4M investment into NoahArk Tech Group’s DeFi infrastructure. NoahArk is an emerging DeFi project on the EOS EVM chain, focused on providing highly secure and reliable decentralized trading services. Through this investment, the ENV aims to support NoahArk Tech Group as they create new avenues for collaboration and development that benefit the entire EOS DeFi ecosystem. At the same time, this investment will drive value back to the network by creating new opportunities for DeFi to thrive on EOS, while increasing users and liquidity on the network.
EOS Q4 Report Released
The ENF recently released the EOS Q4 report, which offers an in-depth overview of activities, growth, and financial expenditures. Check it out to learn more about all the monumental growth that EOS underwent over the last three months of 2023.
Messari also released coverage on the EOS ecosystem in their State of EOS Q4 2023 report. The article goes into some of the most notable metrics that saw an upward trend throughout the fourth quarter. This includes an increase in total staked USD of 22.6%, an increase in EOS revenue of 222.4% and an increase in the circulating market cap by 48.9%.
2024 is Off to an Epic Start for EOS!
Between the deployment of Leap v5, growing adoption of EOS inscriptions, evolving technology for RAM and the strategic investments into NoahArk and EZ Swap, there’s a lot to get excited for across the EOS ecosystem. Remember to check out the full Everything EOS Livestream for additional information on all of this and more. Also, if you’re a developer, take part in the ongoing Developer Challenges for a chance to win up to 1000 EOS.
If you want to connect with other EOS enthusiasts, join the EOS Global Telegram group. Every Wednesday at 8pm UTC (3pm ET), the community meets with ecosystem leaders to discuss the latest network news.
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 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 Website | Twitter | Discord | LinkedIn | Telegram | YouTube
