EOS Sues Block.one Over Legal Dispute

EOS Sues Block.one Over Legal Dispute


The EOS Foundation and Block.one may be headed towards legal action as the EOS Network Foundation’s CEO proposes measures to hold Block.one accountable for failing to invest $1 billion in EOSIO development as promised and suggests a hard fork to sever ties with Block.one.

The long-standing battle betwixt the EOS Foundation and Block.one (B1), the company behind the EOSIO blockchain tech, is set to take a new twist. Over the weekend, the EOS Network Foundation’s (ENF) founder and CEO, Yves La Rose, proposed some possible measures.

Yves urged EOS community members to consider legal alternatives against Block.one following a breach of trust. Yves accused Block.one of failing to invest $1 Billion in EOSIO development as promised. He wrote in a lengthy thread on Twitter platform that “It has evolved apparent that B1 does not have and has never had any intention of investing the $1B promised in #EOS Network.

EOS Community Proposals To Protect EOS

Yves proposed two major actions against B1. The proposals are [art of the attempts to seek compensation from Block.one and hold it accountable. The EOS CEO thinks that “taking steps to hold B1 to its promises of financing in EOS Network will only make better EOS Network’s position and the longstanding value that it can attract to its participants.”

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Source: Twitter

Interestingly, the Second option included forcing a hard fork to completely separate from B1 and remove B1-owned crypto tokens. Reports by Yves, “If enough crypto token holders are interested in making a legal claim, the @EOSnFoundation is prepared to help in bringing #EOS crypto token holders together for the purpose of advancing a claim against B1.”

Then, Yves made it clear that this proposed lawsuit would differ from the existing lawsuit against Block.one for their ICO. Reports by the CEO, “This class action would be for B1 breaking its promise to invest in the EOS ecosystem”.

Another option would be to implement a hard fork. This would see EOS “sever its ties” with Block.one and increase its own integrity. In doing so, there will be fewer EOS crypto tokens in circulation which could raise its price.

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Impact of the Lawsuit Proposals on EOS

Yves pointed out that these actions would sooner or  thereafter make better the position and longstanding worth of the EOS Network. He likewise praised the network’s durability and potential. He stated the platform as the most appealing utility crypto token network in the digital currency market.

Yve’s proposition so far has received mixed reactions from community members. Several believe a hard fork will be hard to pursue and show a preference for a legal suit.

EOS Sues Block.one Over Legal Dispute

Source: Twitter

The community will decide whether to move forward with the hard fork or pursue the class-action lawsuit. Furthermore, community members can contact the Foundation at [email protected] to show interest in or learn more details about these suggestions.



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