'EOS, Telos, WAX and UX Network Blockchains Pledge $8 Million in Annual Funding for EOSIO Development' web3 eos
, four EOSIO protocol-based blockchains, have pooled their development efforts to drive the execution of the EOSIO protocol core code that underpins each of these blockchains. In 2022, this consortium has committed an annual budget of $8 million for core development and developer engagement. Despite the fact that the blockchains are separate, they will collaborate to rebrand the EOSIO technological stack and add more security and new features to the protocol's core code.
EOSIO is a third-generation blockchain protocol with great speed, capacity, and customizability. Block speeds of half a second, capacity tested at over 10,000 transactions per second , and minimal to no transaction fees are all features of blockchains based on the protocol. Block.
The procedure of forming the EOSIO blockchain coalition started in January 2022 and included multiple different EOSIO protocol projects at various periods, including Ultra, Proton, FIO, EVA, and even Block.one's exchange and NFT initiatives. During weekly video-recorded Zoom sessions, the different teams explored models for collaboration, decision-making, financial assistance, and development objectives over the course of many weeks.
Priorities outlined by the previous group have been implemented immediately. More than seventy-five ideas to improve EOSIO were outlined in the four "Blue Papers" commissioned by the ENF, which provide a comprehensive assessment of EOSIO's current situation. For the first time in the protocol's history, coalition members will select which individual ideas are most important and should get funding.
The EOS Network is a third-generation blockchain platform driven by the EOS VM, a low-latency, high-performance, and extensible WebAssembly engine for predictable execution of near-feeless transactions built to provide the best web3 user and developer experiences.
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