EOS Loses Most Used Dapp to Binance Smart Chain (BSC)

EOS’s largest project, Effect Network, has disclosed plans to relocate its entire network to Binance Smart Chain (BSC).

Who is Effect Network?

Effect Network (EFX) a Dutch-based project, also known as Effect.ai, has recently rebranded with their move to BSC. They are well known for the use of decentralized technology to build a framework that allows “anyone to build products and services and for anyone to gain access to fair paying work from anywhere”, thereby directly connecting businesses and the workforce. The network currently boasts of a workforce of more than 10,000 members globally, from 97 different countries.

Effect Network is currently the most used decentralized application (dApp) on the EOS mainnet. The network boasts of completing more than 7 million paid tasks since its inception. Some of its use cases involve big organisations like The United Nations (UN), Akon and Linus Tech Tips.

Why the Move From EOS?

The major issue that stood out for Effect Network was a concern about the future and viability of the EOS blockchain. Effect Network cites “unfulfilled promises to address the many issues that plague the EOS mainnet”. Another reason to move on seems to be the recent decision of the founder and CTO of EOS parent company Block.one, Dan Larimer, to leave the project “to pursue new personal projects”.

Binance Smart Chain Getting Lots of Attention

The network has partnered with top industry players like Chiliz, Chainlink, Gravity Network, ANKR Network, etc. Most of the partners are moving to BSC due to its comparatively lower transaction fees.

Chris Dawe spoke highly of the move to BSC. He also added that the platform’s culture of hard work, dedication, and vision is exceptional.

Look at what the Binance organization has accomplished in only the last three years. It is a testament of dedication, hard work but above all its laser-focused vision. The amount of products and services our clients and workforce can tap into with the Binance ecosystem are amazing and will help accelerate the growth of the Effect Network like never before.

Chris Dawe, CEO of Effect Network

Chris Dawe also stated that Binance offers lots of support through Binance Labs and Binance_X initiatives.