The biggest EOS block explorer Blocks.io got acquired by the blockchain-based payment platform Metal Pay as we are reading in our EOS newsletter today.
Metal Pay acquired the biggest EOS block explorer and the binding letter for the acquisition were signed at the start of the week as the representatives explained. The final amount of the teal was not disclosed. Originally launched the simple block explorer for EOS, Bloks.io became a multi-purpose EOSIO platform that supports multiple networks such as Telos, Proton, WAX, and others. According to Metal Pay, Bloks.io had more than 10,000 daily active users at the time of the acquisition.
A spokesperson for Metal Pay said that Bloks.io is the first and only block explorer that is acquired by the company and with this deal, the company expects to benefit from a larger number of real token holders on Bloks.io. The company also looks to collaborate with the block explorer developers that were led by ex-Ethereum developer Syed Jafri. The founder of the major block producer EOS Café Block won a $200,000 EOSIO smart contract challenge from the EOSIO creator Block.one in May 2020.
Metal Pay aims to expand the capabilities of the proprietary blockchain and crypto known as Proton. Launched back in 2020 in April, Proton is a public blockchain and smart contract platform that is designed for consumer apps and peer-to-peer payments. With the new acquisition, Metal Pay plans to integrate Proton into the Collectables.io platform as a wallet option as well as a chain. Founded by Jafri, Collectibles.io is a non-fungible token marketplace that runs on the WAX blockchain. The bloks.io deal marks Metal Pay’s second acquisition of the year as the company first purchased blockchain and crypto project Lynx.
Alongside BLocks.io there are a huge number of EOS block explorers such as EOSx.io, Eosflare.io, EOSpark.com and others. The platforms are created to track blocks and transactions on the blockchain or the decentralized system powered by the native cryptocurrency EOS. Launched in 2018, EOS is one of the biggest cryptocurrencies by market cap. As of press time, EOS is ranked the 11th top crypto asset with a $3.4 billion market cap.
Regarding the EOS newsletter, we can see that The EOS Ecosystem dies out slowly despite raising the $4.1 billion during its ICO. The blockchain was unable to unseat Ethereum and its shortcomings provide a strong case study on how money is not enough to buy crypto adoption.
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