According to recent research from Messari, the EOS blockchain, which has been stagnant for years, is poised for a significant resurgence in 2024. The network, which began its transformation in late 2023, has already shown notable revenue growth by the end of Q1, signaling its efforts to regain prominence in the decentralized platform space.

One key indicator of EOS's revival is the rise in transaction volume and associated fees for shared RAM resources, despite its modest annual earnings of around $1 million. Originally launched in 2017, EOS struggled to find impactful projects and real-world applications despite amassing a substantial treasury in ETH tokens.

However, with an upcoming total overhaul in the summer, including an expansion of its token supply and enhancements to its infrastructure, EOS aims to change its trajectory. The introduction of the Savanna consensus update, scheduled for launch on July 31, promises to bring new mechanisms for transferring and burning RAM tokens, making EOS more attractive for decentralized app development.

Additionally, the integration of the ExSats project, a new DeFi tool leveraging Bitcoin representation on the EOS blockchain, is set to facilitate interaction with other blockchains and the Ethereum ecosystem. Despite these advancements, EOS's market performance has yet to reflect its increased utility, currently trading at $0.80 and ranked 86th by market cap.