Dan Larimer – Bitshares to EOS
- Daniel Larimer is one of the most influential and celebrated blockchain technology developers to date
- Son of Cryptonomex Inc. co-founder Stan Larimer, Dan has been the chief architect of several leading blockchain powered platforms including Bitshares, Steemit and EOS
- Recently, EOS platform security problems have forced Dan Larimer to re-write the EOS constitution and caused some controversy in the process
Dan Larimer is easily one of the most important blockchain technology pioneers since Satoshi Nakamoto. Moreover, that isn’t entirely by accident. In fact, Larimer is one of the very few people in the world who can lay claim to having conversed directly with the secretive Bitcoin creator.
Dan Larimer in Brief
Dan Larimer holds a Bachelor of Computer Science degree from Virginia Polytechnic and State University. However, it was Dan Larimer’s passion for an alternative to corrupt government and banking institutions, which led him to pursue a path developing platforms like Bitshares Steemit.
By the time Bitcoin was given to the world in 2009, Dan Larimer had already been attempting to create a secure form of digital currency all of his own. The release of Bitcoin, therefore, saw Larimer start spending time on forums like Bitcoin Talk, where he eventually connected with the infamous Satoshi Nakamoto.
Bitshares & The Start of Larimer’s Development Career
Despite only being launched in January 2009, Bitcoin faced several tough challenges in its first year.
Almost as soon as exchanges came online, national and international regulators moved to shut each one down. During discussions with Satoshi Nakamoto on Bitcoin Talk, Dan subsequently came up with the idea of entirely decentralized exchanges like Bitshares.
The Creation of Bitshares 0.1
The idea behind Bitshares was simple. Just like Bitcoin was decentralized, Dan Larimer envisaged a time when full cryptocurrency exchanges could be based on the blockchain. However, it wasn’t until 2013 that Dan finally saw his idea become a reality.
Teaming up with Ethereum’s Charles Hoskinson, Dan Larimer was able to present Bitshares at the 2013 Atlanta Bitcoin Conference. However, in 2015 after the release of Bitshares 2.0, Dan and Bitshares parted ways. – Namely, so that Dan could focus on building more decentralized platforms upon his new Graphene blockchain.
Graphene, Steemit & EOS
In creating Bitshares, Dan Larimer created his very own Delegated Proof of Stake (DPOS) consensus algorithm. Moreover, unlike a Proof of Work consensus algorithm (like which Bitcoin uses), DPOS allowed blockchains to process up to 100,000 individual transactions per second. Thanks to the success of DPOS powered platforms like Bitshares; Dan subsequently started work on new enterprise scale blockchains like Steemit.
Today, Steemit is known as the world’s first blockchain powered social media platform. What many people don’t realize, though, is that Steemit is also the world’s most active blockchain. This is thanks to the fact that DPOS and Graphene allow thousands of Steemit users to transact every second of the day without interruption.
Buoyed financially by the success of both Bitshares and Steemit, Forbes has estimated that Dan Larimer might be worth as much as $700 million. One curious thing about Dan Larimer, though, is that he doesn’t seem to stick around long after bringing new projects to market.
Leaving Steemit in March 2017, Larimer started work on the supposed Ethereum killer EOS. With EOS, though, Larimer might finally have overstretched himself.
EOS – Where did it all go Wrong?
Despite anticipation surrounding the launch of EOS in June, the Dan Larimer created EOS blockchain hasn’t had as smooth a rollout as Bitshares or Steemit. This is due to several human actors involved with the EOS governance structure, creating artificial scarcity and failing to arbitrate disputes faithfully. EOS, however, is still a somewhat fledgling project and may very well prove just as successful as Bitshares and Steemit in the long-term.