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Block.one made history when it raised $4 billion worth of cryptocurrency for the initial coin offering of EOS, a blockchain that was built to compete with Ethereum and other smart contract networks. Block.one’s main project is EOS.
Prior to Block.one and EOS, Larimer was involved in blockchain-based social media publishing service Steem and Bitshares.
He made the announcement in a short post published to Voice, a social media initiative founded by Block.one. The EOS pioneer wrote on the matter:
“I have worked with Brendan and block.one for the past 4 years and am proud of the EOSIO software I was able to create and launch with the help of an extremely talented group of engineers. Alas, all good things must come to an end. As of December 31, 2020 I have resigned my position as CTO of block.one.”
Larimer’s Future Ambitions
While the EOS co-founder is resigning from his post at Block.one, his intent is to continue to work on decentralized technology:
“I will continue on my mission to create free market, voluntary solutions for securing life, liberty, property, and justice for all. I do not know exactly what is next, but I am leaning toward building more censorship resistant technologies. I have come to believe that you cannot provide “liberty as a service” and therefore I will focus my attention on creating tools that people can use to secure their own freedom.”
Larmier did not mention if he will stop working on EOS as a whole.
Many in the crypto space speculate that he will focus his efforts on decentralized finance next, which would be in line with his ambitions to cultivate censorship-resistant technology.
EOS Price Drops
EOS’ price dropped in response to this news, seeing that Larimer is a well-known figure and was sometimes seen as the face of the project.
EOS is currently the worst-performing crypto-asset in the top 100 by market capitalization, according to CoinGecko. The cryptocurrency is down 15% in the past 24 hours, underperforming Bitcoin’s 5% drop and Ethereum’s 1.5% drop.
Over the past seven days, the cryptocurrency has gained 18% against the U.S. dollar.
Featured Image from Unsplash
Chart from TradingView.com
Price Tags: EOSUSD, EOSBTC
EOS Co-Founder Larimer Resigns From Post as CTO of Block.one