EOS CEO: EOS was 'a victim of its own success'

EOS (EOS/USD) CEO Yves La Rose called EOS a "terrible investment” and a “failure as it stands” according to a transcript of prepared remarks viewed by Invezz. The CEO discusses the past and future of the EOS blockchain protocol on Wednesday, blaming backer and former developer Block.one for most of its woes.

Rose adds that the EOS Foundation is stepping up because EOS can “no longer rely on” Block for guidance.

Path forward: new teams, grant distribution, and more

The path forward comes with a great deal of effort. It includes forming new core teams, developing a roadmap based on new products, creating and distributing grants programs, and more.

Block committed ‘negligence and fraud’

Rose conceded that EOS’s current and unenviable state is partly due to past successes, as counterintuitive as it may seem. The token raised the record $4.1 billion in 2018 in an ICO that took place over the course of a year.

The CEO stated:

Rose believes that the EOS Foundation is in a position to replace Block.one as an organization providing support and guidance. This could help the project grow again. Rose set up the foundation in August after stepping down as the CEO of EOS Nation, an infrastructure provider for the protocol, this May.

EOS’ CEO continued to attack Block. The remarks state: