🌐 EOS Network changed its name to "Vaulta" in its transition to Web3 banking
🌎 EOS Network, the blockchain with the largest initial coin offering in history, has changed its name to Vaulta to provide Web3 banking services. EOS Network, a blockchain that launched in 2018 amid the boom of initial coin offerings (ICO), has changed its name to Vaulta and will pivot towards Web3 banking.
The change to Vaulta is tentatively scheduled for the end of May and will include a new token and the creation of an advisory group known as the Vaulta Banking Advisory Council to assist with the company's new direction, the company said in a statement on March 18.
🛎 The rebranding of the EOS network to Vaulta marks a significant course correction for the blockchain, which launched with great fanfare in June 2018 following a year-long ICO that was the largest in history at $4.1 billion, executed by the company behind the network, Block.one.
After its launch, EOS was a top 10 project by market capitalization for several years. But its value has been in constant decline and is now barely within the top 100, at rank 95, according to CoinGecko.
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