EOSIO Mainnet Launched

The EOSIO 1.0 mainnet has just been launched by the blockchain software publisher block.one. The EOSIO platform is intended to be used in order to allow businesses to rapidly deploy and develop blockchain-based applications. Moreover, the mainnet release has also seen the price of EOS surge, as some are calling the token ”the next Ethereum, but better”. Furthermore, there currently seems to be a substantial amount of potential in EOS, as block.one has recently partnered with a UK-based investment firm to launch a $50 million fund.

The open source publisher behind EOSIO, block.one, describes itself as concentrating on ”high-performance blockchain technologies”. The release of EOSIO 1.0 marks a significant milestone for the platform, which intends to become the first decentralized operating system which ”provides a development environment for decentralized applications”. The mainnet publication is a vital step towards realizing EOSIO’s full vision of blockchain infrastructure supporting inter-blockchain communication, self-describing interfaces and much more. The EOSIO 1.0 release brings a long series of different core functionality, such as free rate limited transactions, low-latency block confirmation, and a Web Assembly-powered smart contract platform.

This release of EOSIO also brings a massive amount of other functionality, which can seem a bit technical. For example, it also introduces low overhead Byzantine fault-tolerant finality, scheduled recurring transactions, time delay security, hierarchical role-based permissions, support for biometric security, parallel execution of context-free validation logic and much, much more. It is also designed to accommodate “sparse header light client validation”. This release has been much awaited by the general EOSIO community, and perhaps the most telling reaction of all is the dramatic uptick in EOS price following the mainnet launch. EOS is now trading up more than 15% following the release of the mainnet. This increase in price is arguably due to the massive potential seen by some in EOSIO, with community members heralding it as the ”new Ethereum” regarding future adoption and technical potential.

However, this is not the only positive news for EOSIO. EOSIO’s publisher, block.one, has also recently partnered with the London firm SVK Crypto, which is community-based investment firm that deals with cryptocurrencies and blockchain technologies. The two are looking to launch a new trading fund aimed to ”accelerate the growth and development of the EOSIO blockchain ecosystem”. The fund will reportedly be valued at $50 million and will provide funds for projects building on the EOSIO blockchain platform, most notably decentralized applications (DAPPs). The mainnet launch and the upcoming EOSIO fund means that things would certainly seem to look interesting for EOSIO moving forwards.