Prominent blockchain developer Daniel Larimer announced leaving his position as the CTO of Block.one after a stint of four years. The blockchain entrepreneur had previously co-founded the company behind the popular project EOS along with Brenden Blumer before dropping his resignation as of the 31st of December, 2020.
Larimer’s resignation comes just a day after he announced boycotting Twitter. In a Voice post, the exec had argued that “the censorship has gotten out of control” and that he can “no longer empower such a corrupt company.”
Larimer referred to the censorship pressures and emphasized once more during his resignation announcement that his future endeavor would include focussing more on developing tools that masses can use to secure their own freedom.
His official statement read,
“I will continue on my mission to create a 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.”
Larimer went on to assert that,
“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.”
Nevertheless, Larimer and Blumer had been working together in the company since 2017 which went on to secure a massive $4 billion for an initial coin offering [ICO] to launch the EOS network.
In the beginning, the EOS network was touted as an improved version and a potential Ethereum killer by many industry experts amidst a clogged ETH ecosystem plagued with scalability issues. Despite attempts to reach the same level, EOS was grappled by centralization concerns.
EOS Takes A Plunge Following The News
The latest news about Dan Larimer’s resignation did not sit well with the participants of the EOS market. Shortly after the development, EOS dropped substantially which has extended to over 35% loss in less than 48 hours. The crypto-asset was previously consolidating above the support level of $2.8 despite any impressive upside move.
The news triggered a sell-off which dragged EOS’s price to $2.7, at the time of writing.