I'm failing to understand EOS current situation

in #cryptocurrency6 years ago (edited)

And of course as a non expert, I'm not talking about the technical aspects of the coin itself, but the philosophy behind the whole thing. It's true the today the market is full of FUDERS, people who don't want EOS to succeed for a reason or another and spread misinformation, but just saying they don't know what they are talking about, and leaving it at that, is not enough to leave me in the least satisfied.



Governance & Blockchain


Probably the hardest subject to debate, because like with many other aspects of human society, not everyone can agree on the "ism" that should dominate a particular project. Of course, it's ideal to think that a completely decentralized system, one with the most democratic elements chiseled out, would be the one to succeed. But, I'm starting to think we might not be the right species for such goals.

In other words, it seems to be that unless a strong and I do mean strong leader or leaders take over a project with intense care, the project will not take off, and it will fail to deliver on its initial promises sometimes by a long shot.

As I understand the complexities of the system, I'm more and more convinced that DPOS is the way forward. Mining is sure to slowly be faded away and since leadership is not innate within our nature, but a characteristic of the few, without a doubt DPOS seems to embrace this human reality.

Did EOS get it right this time?


That's exactly why I'm confused. I've read enough hype about EOS, enough promises to know that what its currently doing, how its currently functioning was not the way it was supposed to work when it was presented.

In other words, the issues are still being worked out today. You would think that an ICO that lasted a whole year had enough resources to tackle most of these issues, but you would be incorrect with that assertion. So far, EOS has stopped working twice (to my knowledge), had a tumultuous launch to say the least and has block producers not acting in the best interest of the blockchain with only a month in.

You would think a block producer raking in 10k USD a day would have an infrastructure as to stay on top of the blockchain he is tasked to protect. But, of course we are forgetting to account for the flawed human element.

More changes proposed


I suspect this has led @dan to reconsider some of his original ideas regarding the project. In my view the fact that the discussion is currently so heated, so debated is probably a good thing, in the sense that there are those passionate enough about the concept of EOS to push the project forward regardless of the abysmal challenges its had to face since the day the first block was born.


However, the question for me becomes. What is going on? How is it that these problems were not foreseen at all? Am I being too naive? What piece of the puzzle am I missing? - I'm seriously attempting to understand this so that I don't speak from a place of ignorance like many others out there.

As they say, time will tell...


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I am quite confused about this change of goals by dan too. It seems there are several issues that he tries to adress:

  • ECAF under the current Constitution has no balancing moment, there is no election and arbitrators could not be removed from ECAF atm. (That could have been amended).
  • Reversability of Transactions would also harm inter blockchain communication
  • Current constitution is hihgly interpretable, thus can lead to unclear constitution.
  • Regulations are unenforcable
    I personally do understand those reasons, but i think it would suffice to change them. Most importantly, the prevention of theft, has been one of the major selling points of EOS in the past month. Now that about to go is certainly a BP?

I just finished watching this video... here is an opinion of a knowledgeable guy...

I'm totally confused by it too @meno. I'd love to read an easy to understand explanation written from an impartial view point. 😊

I'm sure Dan will share his views on this soon, I'm sure it will answer many things and also leave many more questions for us.

But, I'll share what I learn from it I'm sure

Thank you @meno. The problem is though that Dan is not impartial so he'll be sure to make it look good won't he? 😂

true, but I'm not a fanboy... if something doesn't make sense, I'm comfortable pointing it out.

I too am in the same boat as you as I try to make sense of everything out there at the moment.

I read an article this morning on reddit stating that all of the issues that are currently happening were predicted and even brought up. The guy went on to criticize Dan saying he believes his ideas are better than everyone else's and refused to listen to the community warning him of possible problems. I'm personally not informed enough to determine if that opinion is valid.

It also sounds like from a legal standpoint he cannot really jump in and help put the fire out. He is left to throwing out suggestions and waiting for the community to make the necessary fixes. It will be interesting to see how they manage everything from here forward.

It also sounds like from a legal standpoint he cannot really jump in and help put the fire out. He is left to throwing out suggestions and waiting for the community to make the necessary fixes. It will be interesting to see how they manage everything from here forward.

That is exactly right, hence the conundrum EOS is currently in.

interesante este articulo de ESO amigo no sabia nada de esto por lo visto es un excecelente proyecto lo seguiré mas de cerca gracias por compartir

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