According to a new report, the multi-billion-dollar blockchain project EOS is facing a potential crisis after witnessing an 86% decline in "developer activity" over the past year.
The report claims although "the majority of major protocols saw a moderate decline in developer activity (no more than 20%)", probably at least partly due to the COVID-19 pandemic, EOS (-86%), Bitcoin Cash (-63%), and TRON (-51%) "saw the largest declines in active developers":
"In the case of EOS, there is likely continued decline following the 2019 launch of its main network and core developers moving away from the protocol..."
The firm's researchers also tracked code development, as measure by "weekly commits and code updates over time to the core protocol organisation repositorie," and found that Maker (-98%), TRON (096%), and EOS (-94%) "saw the largest declines in weekly code updates."
After raising more than $4 billion for its ICO in 2018, the EOS blockchain has continued to lag behind Ethereum in both smart contracts and daily dapp users.
According to the report, Ethereum accounts for more than 80% of all smart contracts and dapps in the decentralized space, with EOS coming in a distant second at 9%.
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