The BlockOne company, which is behind the project, was stopped by the EOS community on November 8. This decision follows ongoing discussions within the community about the reliability of BlockOne. The company is accused of centralizing the network and causing it to be unreliable.
BlockOne and the EOS Network Foundation have been at war for the past few weeks. According to the ENF, BlockOne was ignoring network interests and not delivering on its promises. The EOS token suffered serious damage from the decline in network activity. It moved from the 7th to the 44th place in the crypto market in 2021.
The community voted to stop the sale of 67 million EOS (250 million dollars) that was to be distributed over five years. Brock Pierce, cofounder of Tether and BlockOne, is also affected by this decision.
“The EOS network, through a super majority consensus has decided to take its future into its own hands and vote to fire Block.one as well as to stop vesting tokens. This marks a new era in EOS. It also highlights the power and potential of blockchain technology to empower a community against corporate interests. Yves La Rose is the founder of ENF.
La Rose stated recently that EOS cannot rely on BlockOne any more, saying that the company doesn’t keep its promises and that it lacks support for network. He stated that EOS was Block.one and Block.one are fraudulent. Therefore, EOS has been declared fraudulent. Both parties were separated sooner than expected as the community believed a new entity was better equipped to manage the EOS network.
n Aim to Revivify the EOS Network
After negotiations between BlockOne and the ENF failed, the community became concerned about BlockOne’s shares in EOS ecosystem. They wanted to remove 45 million of the firm’s vested tokens.
La Rose stated that “The network could eliminate the vesting code and believes it is within their right to do so.”
BlockOne attempted to revive EOS by selling 45 million EOS tokens worth around $210 million at the time. The firm agreed that the 45M EOS would be transferred to Helium, which is a decentralized protocol to support Internet of Things (IoT).
The EOS community didn’t like this move. La Rose stated that BlockOne is more concerned with its own interests than it is contributing to the EOS network.
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