EOS community recalls Block.one’s pledge to invest $1bn in EOS development

EOS community representatives reproached Block.one for not having invested $1 billion in the project. The company made that pledge several years ago.

A user under the alias @NicolasFlamel77 wrote that in 2017-2018 the Block.one team promised to invest $1 billion in EOS projects. At the time, the company said that these funds would allow EOS to surpass Ethereum in terms of adoption of decentralized applications (dapps) and the widespread take-up of the technology.

If @block_one_ would’ve kept it’s promise of investing $1b into $EOS projects, Mainnet would be home to thousands of dapps, the community would be 100x bigger, and we might even have surpassed Ethereum by now. #KeepYourPromise @bytemaster7 @BrendanBlumer

— Nicolas Flamel 🔥 (@NicolasFlamel77) November 1, 2020

The moment when project representatives mentioned the large sum was recalled by Everything EOS host Zak Gall. He shared a recording of Brendan Blumer’s speech from 2018.

Please listen carefully to @BrendanBlumer‘s words in this clip from the January 2018 meetup in Seoul.

Did he say that @block_one_ EOS VC would be deploying $1b of capital into #EOS projects or #EOSIO???https://t.co/5QtKCujMGq

— Zack Gall ⭕ (@BlockchainZack) November 2, 2020

In response to these accusations, Block.one’s chief technology officer Dan Larimer stated that the company merely promised to invest in external projects on EOSIO. According to him, the main EOS network “didn’t exist at the time”.

We only promised to invest in companies building on EOSIO, EOS main net didn’t even exist at the time and there have been many public EOSIO chains that launched. Proper investment requires identifying teams that can build sustainable business, these are in short supply.

— Daniel Larimer (@bytemaster7) November 2, 2020

Some members of the community speculated that the Block.one team, in their public remarks, used “EOS” instead of “EOSIO” by mistake.

What is EOS?

According to the DappRadar service, at the time of writing Ethereum uses 2,072 dapps. The EOS network hosts 564 applications.

In September 2020, Blumer criticised the slow and costly operations on the Ethereum blockchain.

Subscribe to ForkLog news on Twitter!