This morning the cryptocurrency EOS (EOS) posted a price increase of $ 3.54, jumping more than 10% in 24 hours.
Indirectly, the EOS rose nearly 56% to a daily high, $ 3.7 since the price slump to $ 2.4 on Dec. 4th.
However, there are unfortunate stories happening among the EOS community.
What happened?
The EOS community agreed to stop payments to developer who developed EOS, Block.one of 67 million EOS ($ 250 million, RM1.05 billion) for another 6-7 years for neglecting the network’s growth.
The conflict between Block.one and the EOS community began three years ago.
2018
In its initial coin offering (ICO), Block.one managed to raise an investment of $ 4 billion.
The developer finally launched software for the EOS blockchain in June.
In return, Block.one received a total of 100 million EOS ($ 376 million, RM1.58 billion) for a period of over 10 years.
Year after year, the EOS community is disappointed with Block.one’s commitment to the blockchain, especially from the aspect of providing its related use cases.
Not enough with that, Block.one wants to build a decentralized crypto exchange, Bullish. But it is not intended to be placed on the EOS.
2021
August
The EOS community and block producers contacted the EOS Network Foundation (ENF) for the appointment of its chief.
November
Their leader, La Rose is a former producer of the EOS blockchain, EOS Nation presented its framework and plans for the network.
one suddenly announced the sale of 45 million EOS to a new fund owned by Brock Pierce, Helios for in support of the EOS community.
8 million tokens were handed over and controlled by Block.one.
Another 37 million have yet to be released to the blockchain
Early December
ENF and Block.one began negotiations on motives to retain ownership of the EOS network’s intellectual property.
They also bargained for payments to Block.one, whether continued or otherwise.
It is unfortunate for ENF because the intellectual property of EOS is in the Bullish balance sheet.
This means Block.one has to buy it from the exchange.
The situation became difficult as Block.one refused to obtain such intellectual property from Bullish.
But, Block.one announced the handover of 30 million EOS tokens out of the total amount it will receive to ENF.
It is rumored that the tokens will be distributed from time to time at the discretion of Block.one.
The ENF was however dissatisfied as the EOS community did not own intellectual property rights.
Initiate restrictions on EOS payments to Block.one upon the consent of the ENF and the block producer, including a pre -assigned token for Helios.
But there is still no final word on whether negotiations will continue or the decision is final.
