Block.one

From CryptoMarketsWiki
Jump to: navigation, search


Block.one
Blockone.jpg
Founded 2017
Headquarters George Town, Grand Cayman Islands
Key People Brendan Blumer, Founder, CEO; Dan Larimer, CTO
Employees 200+ globally
Products EOS
Twitter @EOS_io
LinkedIn Profile
Facebook eosblockchain
Website Block.one
Blog Block.one via Medium

Block.one is a company that develops open source blockchain-powered software. Its first project was EOS.[1][2]

Background

Block.one was founded in 2017 in the Cayman Islands. The company raised $1.5 billion through their ICO for EOS. HBO TV show host John Oliver poked fun at the company in a special episode on cryptocurrency, calling Block.one "a software startup that doesn't plan to sell any software." By late May 2018, Block.one's ICO had raised a total of $4.1 billion.[3][4]

Until mid-2018 Brock Pierce, the former child star turned cryptocurrency entrepreneur, was heavily involved in the promotion of the company's products. He left the company due to a "mutual agreement."[5]

Talent Exodus

In September 2018, several members of the original EOS development team from Block.one - David Moss, Thomas Cox, Brian Abramson, and Corey J. Lederer - announced they had left the company. They said they had begun working on a new startup called "StrongBlock." David Moss, the CEO of the new startup, said on Twitter that "EOS will be a 787 and StrongBlock will be a custom 787 factory." This tweet was accompanied by a picture of two Boeing 787 airplanes inside a hangar. One of the employees said the purpose of StrongBlock (as well as the implied reason the group originally left Block.one) is to address "a need in the blockchain marketplace that Block.one was not going to address," although the employee did not disclose any detailed information about how StrongBlock planned to address this need.[6]

Overview

Block.one has stated that their goal is to release software that others can use to make their own blockchains to "make the world a better place."[7]

The company does not claim to be the primary governing body of EOS. According to the current EOS constitution, Block.one technically holds a minority voting right because it is in possession of 10 percent of the EOS initial digital token allocation that resulted from the creation of the EOS blockchain's genesis block. However, because of the way this token-based voting structure works, Block.one theoretically has the power to select which individual block producers can verify transactions on the EOS network.[8]

Block.one originally intended for EOS to be governed entirely through smart contracts and arbitrators within the EOS community and not through direct intervention from Block.one.[9] However, when hacking attacks resulted in seven users' accounts being frozen, Block.one's CTO Daniel Larimer began making statements on behalf of Block.one; among these was Larimer's suggestion to completely rewrite the EOS constitution in order to provide an effective game plan for governing the EOS community in the event of "extraordinary events" such as these.[10]

References