Daniel Larimer Spooks, Excites EOS Community with New Token Talk

Daniel Larimer Spooks, Excites EOS Community with New Token Talk

Block.one CTO Daniel Larimer has outlined a new payments token he claimed would bear superior privacy, immutability, and scalability. The comments have excited some while causing others to wonder if Larimer was looking beyond EOS. Larimer has since called the concept hypothetical and denied it would affect his work on EOS in any way. 

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‘Interesting Hypothetical Conversations,’ Says Larimer, Not a ‘New Product’ Announcement

This week in the main EOS community Telegram channel, Block.one CTO Daniel Larimer put forth the concept of a new token and in doing so caused an acute stir in the EOS community.

In a series of short messages, Larimer outlined some theoretical specifications of the proposed currency. With emphasis added in bold, these specs included the following:

  • … “solved privacy and infinite scalability
  • … “10 million tps [transactions per second] no fees
  • … “no ram or disk issues”
  • … “everyone can run a full node
  • … “no voting or staking”
  • … “200 ms [millisecond] confirmation times”
  • … “2019 [launch]”
  • … “99.9% certain of viability

At first, it wasn’t immediately clear what context Larimer was pitching the concept for, i.e. within Block.one’s umbrella, within the EOS ecosystem in general, or as a new independent side project.

“Nothing I said here tonight undermines eosio,” Larimer qualified amid his initial remarks, a reference to EOSIO, the software built by Block.one that comprises the EOS network.

Buzz immediately abounded throughout the wider EOS community upon Larimer’s proposal. Both excitement and concern bubbled up as users speculated what the hypothetical token — which, if actualized, would be entirely dissimilar to EOS’s structure — could spell for the future.

The hype grew enough that Larimer clarified he wasn’t leaving Block.one and that he still viewed EOS as the “future of blockchain.”

Dan Larimer
Image via u/eosgo, the Reddit account of the EOS Go decentralized autonomous organization.

“This hypothetical token would be immutable, non-programmable, and limited to a currency role,” Larimer said.

“It would in no way compromise the much larger use cases for EOSIO applications.”

The Block.one CTO later qualified his loosely outlined token spec even further, adding that he “did not announce a new product” and “nothing may come of it other than interesting hypothetical conversations.”

The “it was just an idea” rhetorical walkback was seemingly a far cry from the cryptic though rather concrete and excited tone Larimer used in initially discussing the potential token.

Beyond the Spooked, Others Say ‘Remember, Remember, to Airdrop Your Members’

Regardless of Daniel Larimer’s eventual qualifications, some in the EOS sphere still initially gravitated toward initial concerns that their technical maestro may be looking to move on from the project in some fashion.

“Hey, anybody remember how he walked away from BitShares and Steem to start something new when they were still full of promise,” one Redditor wrote.

“This was a legit concern in the community when EOS was announced, [if I remember correctly],” the user added.

Yet it bears repeating that in the aftermath of his token idea, the Block.one CTO has commented on numerous occasions that he remains fully committed to EOSIO.

And despite the fact Larimer has since stated the concept may go nowhere regardless of his original suggestion of a possible 2019 launch date, other users have shown much more appetite for the hypothetical token.

“Remember to aidrop to your EOS pals,” another Redditor said.

Some even speculated that Larimer’s as-yet hypothetical token could be brought into the fold of the EOS ecoystem as its native stablecoin.

Bitsonline reached out to Larimer regarding the feasibility of this stablecoin idea. “Not a stablecoin,” he commented.

With Daniel Larimer Out Front, EOS Trods Ahead in a Wintry 2018

EOS is still standing and still fighting, but 2018 has been a down year for the cryptoeconomy in general, and the smart contract platform has had its fair share of bumps along the way.

In late May 2018, a report from a Chinese cybersecurity company alleged the then soon-to-be fully launched EOS platform was rife with “epic vulnerabilities.” Daniel Larimer pushed back hard at the time, calling that report “FUD” — an acronym denoting weaponized fear, uncertainty, and doubt.

In early June, the EOS community voted to launch the project’s mainnet. Days later, the mainnet’s inaugural 21 block producers were selected.

After the EOS platform unexpectedly paused on June 16th, the genesis block producers scrambled for a fix and quickly issued a patch.

Later that month, Larimer proposed changes to the EOS Constitution after the EOS Core Arbitration Forum (ECAF) controversially froze 27 accounts on the project’s network.

“Bottom line [is that] damage to community from ECAF is greater than funds we hope to restore to users,” Larimer said at the time, alluding to a need for immutability.

In the autumn, chatter began to grow around Telos, an EOS fork apparently being spearheaded by disgruntled former EOSIO contributor Douglas Horn. Horn claimed his fork would address the problem of plutocracy in its parent chain.

Things got thornier yet. In September, allegations of Chinese block producers colluding together surfaced, though nothing decisive seems to have come from that episode. And this November, blockchain testers Whiteblock issued a report wherein they argued EOS was technically “not a blockchain.”

But again, EOS — whatever it is and wherever it goes — is still fighting and still standing for now.

After the token buzz died down a bit, Larimer went on the record once more and argued that behind the scenes promising EOS development work was continuing on unfazed.

“We are working on a small hard-forking change that will enable most users to never have to rent CPU and allow DAPP creators to rent / own CPU for their users,” he said.

“The takeaway from this should be that [Block.one] is actively working to make EOSIO better and solve problems.”

What’s your take? Were the token comments made by Daniel Larimer misconstrued by the community? Let us know in the comments section below.

Images via EOS Go, Pixabay

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