Altcoin News

Dan Larimer returns to EOS Foundation to rebuild after Block.One axed

After a decisive axing of ties with Block.One, the EOS network is once again under the direct technical guidance of the EOS Foundation, and original network architect Dan Larimer has been reinstated to rebuild.

The once promising project took a beating under the leadership of Block.One – with the mainnet launch plagued by a slow allocation of ‘block producers’ and a painful $24m fine from the SEC relating to allegations of securities fraud around EOS’ giant $4bn ICO in 2018.

In a fiery speech last November, EOS CEO Yves La Rose, lamented the project’s direction before highlighting a need for the Block.One tie-break.

“The last three years or so have been nothing but dwindling in terms of market cap and in terms of token value,” he said.

“When we look at EOS compared to the rest of other cryptos, especially in Satoshi levels, EOS has been a terrible investment.

Can Larimer save EOS?

Yves’ view of abandonment and mismanagement of the network has been shared by Dan Larimer  – a former employee of Block.One himself, turned independent community member with his own dev team (ClarionOS).

Following Rose’s speech, the EOS Network Foundation (ENF) ended reward-payments to Block.One and committed $21m in community funding to the re-development of the ecosystem.

Larimer returns to a stagnant network that has largely been ignored in recent years. His first plan is a major EOSIO fork which will seek to completely replace the EOS old code repository and replace it with a new codebase under development called Mandel (built in conjunction with ClarionOS and backed with $200k funding from ENF).

“The Mandel code fork is the shortest path to EOS independence, it is the first step on a multi-year plan to revitalise EOS,” explained Larimer.

“I’m excited to partner with the ENF and I have never been more optimistic about the future vision for EOS.

“It is on the path to becoming the DAO of DAOs where new users won’t have to pay for accounts and countless people will be rewarded for contributing and inviting others who do the same!” 

Yves La Rose shared in the sentiment, stressing that “taking over the EOSIO codebase is a top priority for the ENF”.

Read More: ‘Block.One were negligent’ claims EOS CEO

Sam Cooling

London-based crypto journalist Sam Cooling studied at the London School of Economics (LSE) before working as a Data Technology Consultant for the Fairtrade Foundation. Coin Rivet combines his passion for technology writing with his zeal for the Decentralised Finance revolution. Sam loves providing daily regulatory and alt coin coverage. Outside of the crypto world Sam loves boxing, and spends his time working with NGOs in Zambia.

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