The Community reminded Block.one of its promise to invest $1 billion in the development of EOS.

The EOS community rebuked Block.one for not investing $1 billion in the project, a promise it made several years ago.

A user called @Nicolas Flamel77 wrote that the Block.one team promised to invest $1 billion in EOS projects between 2017 and 2018. The company then stated that this money would allow the EOS to outperform Ethereum in terms of decentralised applications (dapps) and mass acceptance of the technology.

A case where project representatives mentioned a large sum, recalled Zack Gall, the host of the podcast Everything EOS. He shared a recording of a speech delivered by Brendan Bloomer, CEO of Block.one in 2018.

Gall also added a screenshot of Bloomer’s Telegram message dated 8 October 2017. In it, the head of the company talks about plans to launch a $1 billion programme to invest in EOS projects.

In response to these allegations, Block.one’s Technical Director Dan Larimer stated that the company had only promised to invest in third-party projects at EOSIO. According to him, the core EOS network „did not even exist at the time“.

Some community members suggested that the Block.one team used „EOS“ instead of „EOSIO“ in their speeches by mistake.

What is EOS?

EOS is a block-platform designed to create decentralised applications (DAPPs) of any size. Fans call it the Ethereum killer for its similar functionality with greater scalability, zero transaction fees and the original on-channel management model.

According to the DappRadar service, there are 2072 dapps in use at the time of writing Ethereum. The EOS network hosts 564 applications.

Recall that in September 2020, Bloomer criticized the slow and expensive operations at the Ethereum blockhouse.

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