EOS, a public blockchain launched in 2018 to compete with Ethereum, will be rebranded as Vaulta as the company shifts towards "web3 banking." EOS tokens can be exchanged for the new Vaulta tokens starting in May if this proposal is approved.
The new Token will be listed on 136 current exchanges where EOS is trading, according to an announcement on Tuesday. A trading code will be announced later along with technical details, the Vaulta team said.
Vaulta will be built around the current EOSIO software of this blockchain and integrated with exSat, a "layer 2" bringing smart contracts to Bitcoin. This cross-chain system will feature transaction completion in 1 second and smart contracts compatible with C++ and EVM.
Vaulta's "Web3 Banking OS" will provide a suite of institutional-grade financial services through partners such as Ceffu, Spirit Blockchain, and Blockchain Insurance. Spirit Blockchain facilitates fractional ownership of traditionally illiquid real assets, such as real estate, commodities, and private equity, while Ceffu offers custody, staking, and Bitcoin yield strategies.
Vaulta Banking Advisory Council, a group of financial and blockchain experts, will include members from Systemic Trust, Tetra, and ATB Financial.
"The final moment has arrived. After many years of building a foundation behind the scenes, what began as the EOS Network is preparing to redefine the banking landscape," Vaulta wrote. "Global demand for cryptocurrency has surged and the need for innovative financial products is at an all-time high."
EOS was once an 18 billion USD blockchain. This marks a new chapter for EOS, the famous blockchain created by Block.one co-founders Dan Larimer and Brendan Blumer. EOS is designed to address the scalability and usability issues of previous blockchains like Ethereum through a new deleGate.iod proof-of-stake consensus mechanism (DPoS), providing high transaction processing capabilities and low user fees. Token holders will nominate 21 block producers to manage the network.
After the news, the token surged over 20%, currently trading at 0.6096 USD.
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EOS rebranded, token price skyrockets
EOS, a public blockchain launched in 2018 to compete with Ethereum, will be rebranded as Vaulta as the company shifts towards "web3 banking." EOS tokens can be exchanged for the new Vaulta tokens starting in May if this proposal is approved.
The new Token will be listed on 136 current exchanges where EOS is trading, according to an announcement on Tuesday. A trading code will be announced later along with technical details, the Vaulta team said.
Vaulta will be built around the current EOSIO software of this blockchain and integrated with exSat, a "layer 2" bringing smart contracts to Bitcoin. This cross-chain system will feature transaction completion in 1 second and smart contracts compatible with C++ and EVM.
Vaulta's "Web3 Banking OS" will provide a suite of institutional-grade financial services through partners such as Ceffu, Spirit Blockchain, and Blockchain Insurance. Spirit Blockchain facilitates fractional ownership of traditionally illiquid real assets, such as real estate, commodities, and private equity, while Ceffu offers custody, staking, and Bitcoin yield strategies.
Vaulta Banking Advisory Council, a group of financial and blockchain experts, will include members from Systemic Trust, Tetra, and ATB Financial.
"The final moment has arrived. After many years of building a foundation behind the scenes, what began as the EOS Network is preparing to redefine the banking landscape," Vaulta wrote. "Global demand for cryptocurrency has surged and the need for innovative financial products is at an all-time high."
EOS was once an 18 billion USD blockchain. This marks a new chapter for EOS, the famous blockchain created by Block.one co-founders Dan Larimer and Brendan Blumer. EOS is designed to address the scalability and usability issues of previous blockchains like Ethereum through a new deleGate.iod proof-of-stake consensus mechanism (DPoS), providing high transaction processing capabilities and low user fees. Token holders will nominate 21 block producers to manage the network.
After the news, the token surged over 20%, currently trading at 0.6096 USD.
Disclaimer: All content on this website is for informational purposes only and is not investment advice. Readers should conduct their own research before making any investment decisions. We are not responsible, directly or indirectly, for any damages or losses arising from the use of or reliance on any content you read on this website.