EOS’ Dan Larimer Is Eyeing Another Cryptocurrency Project

Nuno Teodoro

Daniel Larimer, a developer at Block.one, the company that created EOS, has shared plans for the development of another cryptocurrency project, shortly after EOS itself launched.

The plans were recently announced via Telegram:

“I will say it again, I am not leaving EOSIO or B1. In the process of working on EOSIO security and scalability I stumbled upon a new set of tradeoffs for a potential crypto token and I have merely been exploring whether there is a market for those tradeoffs. EOSIO is the future of blockchain and each day our team at block one is making it faster, more secure, more scalable, and more flexible.”

It seems that, during the process of EOS’ development, Larimer came across a new set of concepts. He ended up not applying these new concepts on EOS and now seemingly wants to use them to create a new token:

“The hypothetical token would be immutable, non-programmable, and limited to a currency role. It would in no way compromise the much larger uses for EOSIO applications.”

Other attributes of the new token were revealed on a separate Telegram group. In it, he stated that “crypto people will hate it,” and called the new token “MonerEOS,” potentially indicating that it will be a match-up between privacy-centric cryptocurrency the monero (XMR) and EOS.

Crypto Community Reactions

It seems that Larimer was not far off as the messages were not well received by the crypto community, as it is evident by comments on Reddit. Regardless of Larimer reassuring investors that the new project would not compromise the development of EOS, many in the community are still skeptic about the developer's intentions.

EOS is considered an “ICO unikorn”, having received over $4 billion in funding in its year-long ICO. However, almost 5 months after EOS' mainnet launch, Larimer is drawing criticism for already setting his sights on another project.

Larimer is credited as the creator of EOS, Steem, and BitShares, all blockchains with a high transaction output. With this new announcement, the entrepreneur is becoming known for jumping from project to project. While many see no fault in it, the situation may be especially concerning if we take into account the recent downfalls of Larimier’s previous projects.

As reported by CryptoGlobe, the blockchain social media platform Steemit has recently had to cut more than 70% of its staff due to the cryptocurrency bear market. According to the firm's CEO Ned Scott, the firm is now undergoing restructuring efforts to be able to stay afloat.

New findings claim that EOS is not a blockchain, as transactions are not cryptographically validated. As if that wasn’t enough, EOS moderators are able to change transaction history and revert previously-confirmed transactions. Larimer himself has said that decentralization is not EOS’ top priority.