Correction to News BTC article "EOS Centralization Reportedly in Action: Arbitrators Able to Reverse Transactions"
I would like to take a moment to use my knowledge of EOS to improve the accuracy of the information published by News BTC in the following article:
https://www.newsbtc.com/2018/11/11/eos-centralization-reportedly-in-action-arbitrators-able-to-reverse-transactions/
The EOS Core Arbitration Forum (ECAF) who issued the judgement have no powers of enforcement. They issue orders to block producers who do not automatically carry out the order. Rather they provide an independent secondary check before performing any action. This system is protecting users from loss and is as opposed to 'the law of the jungle' philosophy which is the biggest barrier to mass adoption.
You do not need a screen shot in order to report on this issue since ECAF publish all their notifications here: https://eoscorearbitration.io/disputes/notifications/ and published the ruling specified in the News BTC article here: https://eoscorearbitration.io/wp-content/uploads/2018/11/ECAF-Ruling-Case-0023-2018-11-08-AR-001.pdf
The first line of the article reads "A screenshot circulating on social media has revealed a decentralized blockchain protocol EOS practicing authority over its network."
I beg your pardon? How does a network exert authority over itself? This is the danger of writing about complex issues in very general terms. What they mean is "Under article 9 of the EOS constitution, which every user legally agrees to when they perform a transaction, an EOS token holder requested that ECAF look into an alleged theft of EOS tokens (which violated their rights under article 3 of the constitution) and publish a report. ECAF ruled that article 3 of the constitution had been violated and submitted their findings to the public."Under the headline "Not a blockchain?" The article asks "Many argued that why a crypto user would find EOS better than any traditional legal system, given its high authority over the network." EOS is structured like a traditional system with separation of powers (https://en.wikipedia.org/wiki/Separation_of_powers), except that on the EOS network everything is recorded on the public blockchain to make it more transparent than a traditional system.
I understand how this kind of thing happens because sometimes it happens to me.
As media outlets it's impossible for us to have 100% knowledge of all the subjects we cover. Because of this, sooner or later we are going to gloss over something which ends up making our content look like an intentional misrepresentation or "hit piece".
This happened to me recently (just read the comments on this video where I mentioned Elastos)
I do not think News BTC wrote this article because they are biased. I just think they are under the pressure created between the demands for producing regular content and the limitations on the amount of research that can go into each piece.
If we media outlets are held to the standard of absolute perfection, putting a months research into each thing we produced content on we would go out of business fast, ultimately depriving the community at large.
Yes, I'd love to be able to release full length documentaries and make sure to include every single nuance about a topic I cover, but this is simply not a model that can be sustained without enormous resources.
This is how I came to write the mission statement for The Cryptoverse which you can read here https://www.patreon.com/TheCryptoverse
It's also why I opted to setup a Patreon page. I saw it as the only way this whole thing is going to work.
My goal is to reach a point where this crowd funding method allows me to take all attention away from issues of funding and concentrate 100% on delivering the 3 'promises' of The Cryptoverse brand which is to provide:
- The most accurate
- Highest quality
- Most widely consumed
...content in the world on Bitcoin, cryptocurrencies and blockchains.
If you are already a patron, you are already doing your bit to move us towards this vision, so I thank you.
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“It is difficult to get a man to understand something, when his salary depends upon his not understanding it!”
-- Upton Sinclair
It's good to know you are double checking and reporting about your findings. That's very valuable. Thanks.
Thank you for keeping us updated with the correct information Chris
Unfortunately half truths and FUD is just the norm for crypto (sensationalise in the news has been going to decades). I did see you getting slated on an Elastos TG and put them right in terms of your reporting was accurate of what was happening. You weren't spreading FUD, just reported what was being purported by others. You can only do what you do and keep your integrity.
There continues to be a lot of misinformation spread regarding blockchain and cryptos due to the ignorance of the technology in general. That is why seeking perspectives are so important when trying to be involved in this ecosystem. I am glad to have resources like you who share sucj relevant information.