Crypto entrepreneur Dan Larimer resigns as CTO of Block.one
Dan Larimer, a software engineer and serial cryptocurrency entrepreneur associated with several blockchain projects, has resigned as the Chief Technology Officer (CTO) of block.one, the parent company of EOS.io.
While the news just came to public attention, the programmer resigned from his post on Dec. 31, 2020.
Larimer said he worked with Brendan Blumer, the Chief Executive of block.one for the past four years.
“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 {from} my position as CTO of block.one” wrote Larimer.
He did not specify what his next move or project will be as he is not sure of what he will do next. He vowed to continue working on his mission to “create free market, voluntary solutions for securing life, liberty, prosperity, and justice for all.”
Larimer’s work helped to launch one of the most successful initial coin offerings (ICO) after EOS raised more than $4 billion in a year-long crowdfunding campaign.
Block.one found itself in the crosshairs of the U.S. Securities and Exchange Commission (SEC) in the wake of the EOS ICO. The case was settled after block.one paid a penalty of $24 million.
EOS.io a blockchain-powered smart contract platform used for hosting, developing, and executing decentralized applications (Dapps).
EOS, the native cryptocurrency of the EOS.io blockchain, is trading at $3.2, more than 8% down in the past 24 hours.
Larmer’s history in the crypto space
The entrepreneur was already interested in blockchain in the early days of bitcoin. He is among the few people in the industry who spoke to the mysterious Bitcoin creator Satoshi Nakamoto.He was mainly concerned about the high number of central stock exchanges and envisioned that the creation of a decentralized exchange could solve this problem.
Larimer created Bitshares (previously known as Protoshares) in 2013 with the goal of working with virtual company stock.
The programmer left Bitshares in 2016 and partnered with Ned Scott to create Steem, a social network that uses blockchain technology to reward content creators.
He left Steem to work on EOS. Larimer is credited for inventing the Delegated-proof-of-stake, a consensus algorithm used on many platforms such as EOS, Steem, Ark, and List among others.
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