Early Execs Leave Block.one, The Peter Thiel-Backed Crypto Startup Behind EOS
Coindesk reports that four executives of the blockchain platform firm Block.one have resigned from the company to pursue their own blockchain start-up, StrongBlock, currently in stealth mode.
David Moss, Thomas Cox, Brian Abramson and Corey J. Lederer were the 2nd, 3rd, 4th and 5th employees to be hired by Block.one, and all were all in technical roles, with Moss as senior VP of technology operations, Cox as the VP of product, Abramson as VP of infrastructure, and Lederer as senior director of technology products.
Comments
This is important because Block.one is the parent company that created the EOS blockchain platform and cryptocurrency EOS, and executed the most successful token offer ever in the history of crypto, raising USD4bn via a year-long token issue process that ended in early 2018. EOS majored on its novel governance model and claims that it could scale to handle millions of transactions per second.
Now imagine investing in a USD4bn IPO, and then four of its first five employees leave within months of the IPO completing! Some serious questions would be asked by investors as to what is going on. We wonder, for example, how much EOS token the four employees took with them? Often in token issues, a large proportion of tokens or coins is reserved for the ‘founders and employees’ – which they receive for free, the value imputed by the price paid by investors in the public token offer.
It might also useful to note the bad-mouthing that former senior employees indulge in once they have left – Moss, the most senior of the four departees, was recently quoted, according to Coindesk, as saying that EOS’s claim to be capable of processing “millions of transactions per second” is “a lot of hyperbole” because “there are physical limitations, like the speed of light”.
EOS has always been my favorite project but this is a very negative news in my opinion...
What do you think?
You don't want to miss a Crypto news?
Follow me on Twitter
I have said and I still think that if EOS turn out to be a scam, Steem also will go down. Because if that happens, then noise in the market turn out to be true. Let's see what the markets do and what the remaining founders say and do....
My position about the link EOS Steem is only intuitive based on negative market noise I have been reading 📖 about for months. I think Steem either goes to 100 or 0. I am willing to bet, either way as I see Facebook going down in flames 🔥 🔥 🔥
Thank you for the comment.
Why would Steem go down if EOS does ? Because the same person built it ?
Dan has nothing to do anymore with steem (unfortunately in my opinion), I wouldn’t see too much domino effect.
Posted using Partiko iOS
Hey there @daily.readings, just jumping in here. I don't think EOS is a scam per se but it has certainly been way overhyped. However at this point I doubt a collapse of EOS will have any negative effect on Steem, the two projects are well independent at this point.
However I do think we'll see EOS be ruined by internal fighting over the massive amount of money they've raised and I would',t be surprised to see Dan Larimer leave Block One sometime during the course of next year.
Agreed, that is a scenario that could easily happen...
This news really made me change the way I saw the EOS project
Posted using Partiko iOS
STEEM has working project. EOS has... dunno, some dapps that nobody cares?
Actually they have apps with more users than Ethereum. (Everipedia, EOS knights...) and more are flooding the market. They have the money to fund projects that will be use.
Posted using Partiko iOS
here's a list of EOS dapps, the most popular are gambling and gaming dapps.
https://dappradar.com/eos-dapps
I do not think this is a time to raise the flags as this is a cycle that has been going on in blockchain for the last three years as talent in these high level and technical positions are in high demand. Given word that the EOS network has now stabilized, while still under utilized, I think the fact that turnover is occuring is not a problem long term as much as the need for adoption. There are teams meant to build while others to manage and this may be the transition of that process.
I hope so but this is a young project, people that set it up should not leave ship in the first year...
Imagine if Google founder left the project after one year, it wouldn't have become the companies we know today :)
I think Dan Larimer will be next to leave and then the project will crumble like Bitshare and STEEM before it.
Unfortunately, it might be the case...
The thing is that I wonder if the 4 others left because of disagreements with Dan or Block.one.
Posted using Partiko iOS
I think that its not healthy for any start-up to be sitting on 4 billion dollars or whatever they eventually raised during their ICO.
✅ @vlemon Sorry for UV delay Steemauto is not working
@sbanerjee0017 (Shyamal Banerjee[Age:62] Kolkata,INDIA)✍
No big deal my friend, take care and THANK YOU ! :D
Hi @vlemon!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.681 which ranks you at #1491 across all Steem accounts.
Your rank has not changed in the last three days.
In our last Algorithmic Curation Round, consisting of 477 contributions, your post is ranked at #131.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server