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EOS community ramps up battle for organization control against former developer Block.one
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Members of the EOS ecosystem, a blockchain designed to power decentralized applications, or DApps, are voicing their dissatisfaction with former developer Block.one. As a result, they have formed their own organization and elected new leadership in an effort to revamp the network.
As accessed by Cointelegraph, Yves La Rose, the "community-elected CEO" of the novel EOS Foundation, gave the following prepared statement during a virtual conference:
Block.one is a company registered in the Cayman Islands and was the original developer of the EOS network. In 2018, the company sold 900 million EOS tokens for proceeds of over $4 billion in an initial coin offering (ICO), the largest in the world at the time, despite not having a functional product.
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