EOS Drama Continues As Heated Exchange With Block Producer Emerges
The ongoing drama surrounding the EOS platform’s controversial consensus mechanism took another interesting turn today – as a screenshot apparently showing a conversation with an EOS block producer (BP) has emerged.
Posted as an image on popular subreddit r/cryptocurrency, the screenshot shows a heated Telegram exchange between an EOS block producer, and another unidentified EOS participant – who chastises the BP for failing to freeze some accounts as directed by the EOS Core Arbitration Forum (ECAF):
While the authenticity of the conversation has yet to be confirmed, the post has generated a stir on social media, with popular cypto figure Whalepanda chiming in on Twitter:
— WhalePanda (@WhalePanda) June 26, 2018
As recently covered on CryptoGlobe, this aspect of the EOS governance model has been highly controversial within the crypto community – as many critics have pointed out that the 21 block producers act in principle as a highly centralised concentration of power.
Despite the fact that EOS allows for BPs to be continuously elected, because of the enormous centralisation of the token’s holdings – the system effectively ensures that EOS whales exert a massively disproportionate influence over who is elected (as argued yesterday).
This latest revelation – if legitimate – again seems to underscore the problems associated with a system that places too much power in the hands of individuals.
Not only does it illustrate the problems of a protocol which might fail to punish bad actors, but it also points to a worryingly dystopian form of governance – where a kind of central committee issues diktats, backed up with threats of legal action.
While the future of one of the world’s largest cryptoassets remains unclear for now, it seems reasonable that token holders might start to question the platform’s organisation if instances such as this one continue to emerge.