EOS Co-Founder Dan Larimer Resigns From Post as CTO of Block.one

Dan Larimer is resigning from his post as the chief technology officer of the development company Block.one.

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.”

Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment

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.

Related Reading: DeFi Founder Targeted in $8m Hack Says He Has His Hacker’s IP

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.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

Featured Image from Unsplash
Chart from TradingView.com
Price Tags: EOSUSD, EOSBTC
EOS Co-Founder Larimer Resigns From Post as CTO of Block.one