Liam Frost · 2 days ago · 2 min read
The latest EOS Dawn 4.1 release has caused controversy in the cryptocurrency community due to a minor code update that has changed the core token name from EOS to SYS.
The release, intended to eliminate bugs and improve stability in the EOSIO software, contained several fixes related to network stability, transaction spamming, and transaction propagation issues. One update in particular, however, was misunderstood by the crypto community — the core token name within the code has been changed:
“Please be aware that we have changed the name of the token symbol from “EOS” to “SYS.”
With EOS currently building up to a mainnet release, many market participants are concerned about the development status of the project. The similarities between the new placeholder token name and Syscoin, a blockchain-based marketplace, were quickly pointed out by the crypto community — Syscoin’s native token is “SYS” — alerting the easily-spooked crypto market.
Name Change Will Not Affect EOS Token
Concerns regarding the name change are unfounded, however, according to Roshan Abraham of EOS block production candidate EOS Authority. The name change, states Abraham, is a single line change intended specifically for block producers which will be changed before use, and is intended to ensure legal compliance:
“This change won’t affect the public. Block One can’t be seen as launching the chain. So, us block producers like EOS Authority will have to launch the chain and use EOS as token. Block producers will install (the) code and change line 184 from SYS to EOS. SYS is just a default for system. That’s all.”
Minor FUD caused by the misunderstood update doesn’t appear to have affected the positive momentum captured by EOS in the past 24 hours, however — after a brief drop to $12.32, EOS has recaptured lost ground and broken through the $13 level.
Ranking in as the fifth highest crypto on the market cap leaderboard, EOS boasts a market cap of over $11 billion. With the EOS mainnet launch scheduled for June 2nd and regular development updates, EOS demonstrates strong potential to capture further ground should positive sentiment hold.