Block.One CTO Dan Larimer’s departure creates disappointment for EOS

The fate of all stakeholders
  • Dan Larimer has resigned from the CTO position of Block. one on 10 January, 2020
  • As a partner and associate, colin talks crypto has also announced its selling of all its holdings 
  • Block. one was the one who made advanced software for EOS blockchain platforms

On 10 January, 2020 CTO of Block.One, Dan Larimer announced his resignation from the post. This created havoc in the crypto industry. The situation becomes worse when lead EOS YouTuber, colin talks crypto announced that he would be selling all its holdings.

The fate of all stakeholders

When Dan Larimer announced his resignation from Block, EOS faced a significant hit at the crypto market. The 16th largest blockchain market, EOS, loses a billion-dollar on the next day. 

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Previously Block. one was the company that started ICO(Initial coin offering) who helped launch EOS. As Ethereum’s central platform was ICO(Initial coin offering), all tokens were transformed to EOS. In the early times of EOS, their graph of success is going up at a steady pace. Bloomberg has also reported that EOS has earned $2 billion cash, which is also backed by Paypal and Facebook founder. But Block. one always made statements about their first-ever public blockchain, EOSIO but never about EOS. So these created a normal distinction for many observers rather than any stakeholders.

Bitcoin created the gap

In today’s world, Bitcoin is the only king of cryptocurrency. As Bitcoin has the highest market capitalization, every potential investor is migrating towards Bitcoin. This has also created a drift among the leaders of Block.One. CEO Blummer has also been in favor of Bitcoin.

Blummer has also spoken about changing scenarios of the crypto market, keeping a vision of Blockchain technologies. So it must be that Block. one has been trying to expand its business to focus on Bitcoin and its related benefits. So there are also reports that Block.One official is not speaking any salient features about EOS. 

These changing EOS and Block one-changing scenarios have raised many questions amongst their investors and people related to the crypto market. When ethereum started to rise during the Defi period, it did not affect EOS. So the inconsistent performance by EOS also created a gap between their higher authorities.    

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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