EOS: the First independent days “killer Ethereum”

In the aftermath of the June 2nd launch of the core network token EOS are still in limbo. Last week their price fell almost 20% at the time of publication is $10,23.


Before running was hacked the mail client behind the project Block.One. Quite convincing phishing e-mail was redirected to a fake web site to obtain user data.

A serious security vulnerability

Before the start of the main networks of the Internet security company Qihoo360, the Chinese company said it discovered many vulnerabilities in your network EOS. Some of them have allowed hackers to remotely control the nodes in the network and attack any smart contract created on EOS. In Qihoo360 claimed that the representatives of EOS confirmed the existence of problems and decided to delay the launch, however, later tweeted EOS, it was reported that the launch date of the core network will remain the same.

The situation became even more ambiguous when EOS may 31 announced the launch of a bounty program during which it was discovered many serious errors.


Another problem was the high level of centralization in the management of EOS. Nick Szabo, an authoritative figure in cryptosuite, criticized the "Constitution" EOS pointed out the lack of "social scalability" of the network.

Great thread about how much the EOS depends on a naively drafted "constitution", human-interpreted code wet. As a result, EOS will be labor-intensive, permissioned, jurisdictionally biased, and will have poor social scalability. https://t.co/64XzgplMsb

— Nick Szabo⚡ I (@NickSzabo4) May 30, 2018

Good thread about how the EOS depends on a naively designed "Constitution" and WET code. In the result, the EOS will be time-consuming, exclusive bloccano, biased and with poor social scalability.

"The Constitution" prescribes the mandatory approach on how to work the EOS network. In case the document contains words like "fines" and "arbitration", and there are hints of that Block.One is aimed at creation of the immutable blockchain. Some, however, not be confused by such "Supervisory" approach. There is also an opinion that he is able to help EOS to implement a decentralized platform apps with easier settlement of disputes and political issues.

EOS uses the consensus Protocol of Delegated Proof-of-Stake, which boils down to 21 the manufacturer of the blocks to control the network on behalf of the community EOS. Yet a big question, how many resources those nodes will be spend on finding blocks.

EOS now

The good news is that the main network after a very long wait has finally launched. However, some basic problems are still not solved.

The vote on the question of who will be part of the main producers of blocks, continues. Initially it was decided that after the launch of the core network 21 is assigned to the manufacturer of blocks (NPB) will control the voting for the decision on the first group of manufacturers. After receiving the vote of 15% token EOS it was completed, and new nodes could start work.

However, this plan was cancelled. Dan Larimer and Block.One decided to entrust the management of the vote, the only NPB, again triggering a wave of recriminations in the centralized nature of the guidelines EOS. One of the BNP may be in their interest to choose 21 the manufacturer of the blocks, and due to the lack of transparency, the community will never know about this.

In addition, it seems that there is no organized system of EOS to participate in the vote. No clean vote to holders of tokens, and a large part of the community does not know who are the candidates and how to vote for them.

Read also: Opinion: the Main pros and cons of the platform EOS

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