EOS Block Producer, EOS New York, recently brought to light evidence that shows that a single entity manages six registered producers on the EOS blockchain.
This isn’t the first time that EOS has faced similar accusations in the past. It was said that the Delegated Proof of Stake protocol is favoring centralization on the network.
Seems Centralized
In essence, the majority of the 21 EOS Block Producers belong to China, which has long been a topic of concern. Per the latest report, the single entity resides in Shenzhen, China. Furthermore, it also claims that the six domains were registered at the same time by the same person or organization. EOS New York provided details, proving its stance by adding whois domain data as well as proposing the removal of these six registered producers, namely, stargalaxybp, validatoreos, eoszeusiobp1, eosunioniobp, eosathenabp1, and eosrainbowbp.1/ Six registered producers on EOS are managed by a single entity. This is unacceptable. We have requested the signatures of the top 50 registered producers so that all token-holders may know who does and who does not condone such impropriety. Read on for evidence and the URLs: pic.twitter.com/5ZhFvOWqPB
— EOS New York (@eosnewyork) November 27, 2019
EOS Under Fire
This data paved the way for another allegation against EOS, which works on a smart contract platform, enabling the millions of transactions per second with no cost of the transaction. Besides, the network operates on the delegated proof-of-stake mechanism wherein the network participants can stake coins. These funds allow users to vote for block producers as elected delegates. Interestingly, the community also supported the issue raised by EOS New York. As a way to address the issue, a few members are suggesting that the critical issue is the consensus mechanism while others are urging to reform the governance and voting system.Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ali Qamar
Ali Qamar is the blockchain and cryptocurrency enthusiast (formerly full-time privacy and security guru), his work has been featured in many major crypto, finance, and security blogs. He also is the co-founder of 5Gist.com.
Ali Qamar is the blockchain and cryptocurrency enthusiast (formerly full-time privacy and security guru), his work has been featured in many major crypto, finance, and security blogs. He also is the co-founder of 5Gist.com.
READ FULL BIO
Sponsored
Sponsored