EOS will fork the codebase to fulfill its 2017 promise
EOS has been a major disappointment since raising a whopping $4.1 billion in ICO funding. But now the trust can be rekindled.
The EOS Network Foundation has just welcomed Dan Larimer, founding developer of EOSIO, to help them take charge of the EOS ecosystem. The partnership was established following a vote by the EOS community to avoid rivalry with startup support company Block.one.
The EOS Network Foundation looks to a brighter future
The EOS Network Foundation set about reviving the project.
Dan Larimer is the builder of the EOS architecture and former CTO of Block.one. Now he will help revitalize the foundation. Dan Larimer will work independently on the technical side of Block.one. In particular, he and his team will fork the EOSIO codebase.
The fork will happen on two major upgrades: Mandel 2.3 and Mandel 3.0. The EOS Network Foundation has provided 200,000 EOS to help Larimer and his team implement the fork.
In a press release, Larimer said that the Mandel code fork is “the shortest route to independence from EOS.” He also described the fork as “the first step in a multi-year plan to revitalize EOS.”
These developments were announced yesterday after years of difficulties for the EOS community. EOS was launched in 2017 when Block.one raised $4.1 billion through an ICO to fund the project. It is one of several blockchains considered the “Ethereum killer” in the crypto community. However, it could not keep its promises. After the funding round, Block.one proposed a number of initiatives that still haven’t started a few years later.
Block.one’s missteps have created an ongoing split in the EOS community. The company has been accused of holding back progress on the project, with the CEO of the EOS Network Foundation repeatedly claiming that they have suffered from Block.one’s broken promises. After years of tensions between the two sides, EOS block producers voted in December to no longer contest the 67 million EOS tokens set to be unlocked for Block.one over the next 6 to 7 years. That amount is now worth about $180 million.
The EOS Network Foundation hopes that Larimer’s entry will bring the project closer to realizing its original vision. Last week they received $21 million from the EOS community to further their goal. However, whether or not the project can return is still an unanswered question.
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