The EOS cryptocurrency continues to elicit strong feelings. The blockchain community is preparing to sue Block.one, which has been in charge of the cryptocurrency’s development since 2017.
The problem worsened in the summer of 2021 when the community became utterly disillusioned with Block.one’s conduct, according to the community. This company has stopped creating and maintaining the EOS blockchain and only focuses on asset management.
Additionally, its employees launched some projects that were not EOS-based. Block.one’s credibility was harmed as a result of this. As a result, in August 2021, the EOS Network Foundation (ENF), a unique entity representing the community’s interests, was established.
Block.one’s leadership was meant to be negotiated with by this organization. However, because these never happened, the community chose to stop paying tokens in favor of Block.one in December 2021. We’re talking about the EOS cryptocurrency, which has a market capitalization of around $250 million.
However, according to the community, this was not sufficient. As a result, ENF hired lawyers to initiate a lawsuit against Block.one of $4.1 billion. Representatives of the EOS Network Foundation estimate this amount of harm.