New token concept from Dan Larimer

Daniel Larimer, CTO of Blockchain and developer of EOS Block.One, is known for his habit of jumping between projects and or even creating a new coin if the previous one is not very successful. And now Larimer plans to develop a new cryptocurrency project.

Daniel shared his plans to develop a “high-tech” product for the crypto market in a Telegram message yesterday. He is going to create something completely new. According to him,

the hypothetical token will be immutable, non-programmable and designed to perform only one function - currency. 

At the same time, Larimer came up with a strange name for it - MonerEOS, a hybrid of the Monero (XMR) token and EOS.

Larimer stumbled upon the idea of ​​MonerEOS while thinking about a new set of cryptocurrency trade-offs between security and scalability.

So far, the new characteristics of the proposed project are very vague. Larimer states that the new network will be able to process up to 10 million transactions per second and will abandon DPoS (Delegated proof-of-stake), which Larimer once developed. In addition, it is planned to abandon smart contracts and voting, and give each user the right to become a full-fledged node.

The “pure currency” proposed by the developer is, in fact, one of those serious applications that depend on actual decentralization and real immutability. Real decentralization is the difference between a real cryptocurrency like Bitcoin and just another piece of data on the Internet. And based on what Larimer said, there are good reasons not to trust MonerEOS. 

It is not surprising that the crypto community reacted rather coldly to the new token. Response posts mainly focused on the author's reputation, hinting that he again intends to abandon the project and switch to a new idea.

This is despite Larimer's statement that he has no plans to leave EOS and the new project may not be implemented at all, because it requires a lot of time and resources.