EOS Price Jumps on News of EOSIO 1.0 Release, $50 mln Fund to Support ‘Ecosystem’

Block.one has released the first version of their EOSIO blockchain protocol, as well as announced a new injection of funding for the project.

Blockchain software developer Block.one has released version 1.0 of their open-source blockchain protocol, EOSIO, according to an official blog post published today, June 2. The software is a platform designed for building applications at both the enterprise and “community-driven” levels.

According to the company’s post, Block.one does not guarantee that the EOSIO software will perform “as intended” or “will be free of errors, bugs or faulty code,” claiming that developers implement EOSIO at they own risk.

In addition to the new software release, Block.one also announced today that they had partnered with blockchain investment firm SVK Crypto to launch a $50 mln fund to support the development of the EOSIO “ecosystem”.

Yesterday, Cointelegraph reported that Block.one’s EOS had completed its year-long token crowdsale, raising a total of $4 bln, making the project the largest Initial Coin Offering (ICO) to date.

Earlier this week, leading Chinese Internet security firm Qihoo 360 detected a number of high-risk security vulnerabilities on the EOS blockchain that would enable remote attacks on all EOS nodes. The vulnerabilities were reportedly fixed on the same day they were reported.

Of the top 100 coins on crypto price tracker CoinMarketCap, the EOS coin has seen the most grown over the past 24 hours to press time. The altcoin, currently fifth largest by market capitilization, is up almost 27 percent on the day, trading at $15.35.