Larimer Planning to Develop New Crypto

Daniel Larimer, the creator of EOS and the Chief Technology Officer of Block.One, the company behind the cryptocurrency, says he is planning to develop yet another cryptocurrency as a side project.

Larimer is also the co-founder of the Blockchain based social network Steemit and the creator of DAO BitShares.

A Hypothetical Token

BM, as Larimer is known in the developer community, sent messages on Telegram about this new cryptocurrency he plans to develop. However, he was not very specific about what exactly it was going to be.

In his messages on the social media messaging app, Larimer stated that he had stumbled upon a new concept for a cryptocurrency as he was working on improving EOS’s stability as well as security.

He stated that this hypothetical token was going to be non-programmable and unchangeable, and its role would be limited to that of being a currency. Larimer also said he was now just exploring whether there was a market for such a cryptocurrency.

The CTO of Block.One was quick to add that this new cryptocurrency would in no way impinge upon the much bigger use cases of the EOS platform. He also stated that he had no intention of leaving EOS; that this was going to be a side project of his own.

Later in the day, however, Larimer posted more messages, detailing the possible attributes of the new token. He even gave it a name – MonerEOS. This name seems to be a strange combination of the privacy oriented cryptocurrency Monero and his own EOS.

He finally went on to say that people would probably hate this new cryptocurrency he was thinking of developing.

Tepid Response from the Community

The response from the crypto community was not very warm. WhalePanda, a Twitter user, tweeted that this new crypto sounded almost like Bitcoin. WhalePanda also made a sarcastic comment that Larimer would now need a lot of funding to get this new project off the ground, and criticized the developer for posting this news immediately after his company Steemit had fired 70% of its staff.

Responses from users on Reddit also zeroed in on Larimer’s reputation, saying that his previous projects had all suffered because of the developer’s tendency to change focus too quickly.

Courting Controversy

The tepid response from the cryptocurrency community is understandable. EOS has been courting controversy in the last few weeks, after the network’s moderators reversed already completed transactions. This led to criticism of network’s governance model.

Added to that, Steemit also revealed further teething problems when it announced this week that it was firing more than two-thirds of its workforce.