TechFlow news — According to an announcement from the EOS Network Foundation (ENF), four EOSIO-based blockchains—EOS, Telos, WAX, and UX Network—have formed an alliance to pool their development resources and take over stewardship of the core EOSIO protocol codebase that underpins these blockchains. The coalition has committed to providing $8 million in annual funding for core developers and outsourced development teams in 2022. They will work together to revamp the EOSIO technology stack and introduce enhanced security features and new functionality into the core protocol.
EOSIO was originally created by Block.one, which raised approximately $4 billion in 2017, including $1 billion pledged to support the EOSIO blockchain ecosystem and fund a decade of core protocol development. Block.one ceased supporting EOSIO protocol development in mid-2021, leading EOS to terminate its affiliation payment program with them. The alliance has also retained a professional branding agency to establish a new name and brand identity for the EOSIO protocol, further emphasizing its multi-chain nature and distancing it from any association with Block.one.
