EOS Developer Acknowledges Claims of ‘Collusion’ and ‘Mutual Voting’ Between Nodes
Cointelegraph reports that Brendan Blumer, CEO of Block.one, developer of the EOS blockchain platform, has acknowledged allegations of irregular block producer voting and collusion on the EOS blockchain.
Blumer also acknowledges subsequent denials of such claims, albeit the Cointelegraph story does not make clear who is doing the denying.
Blumer goes on to state that EOS will continue to “ensure a free and democratic election process and […] vote with other holders to reinforce the integrity of this process”.
The accusations began to surface last week, when Eosone, which had already published a report on controversial EOS BPs this September, posted what it claims was a leaked Huobi spreadsheet in its blog on WeChat. The spreadsheet contained four tables with "node mutual voting table" and "node income statement" among them.
As per Eosone, this could mean that main EOS nodes, including Chinese crypto exchange Huobi (the fourth BP in current producer ranking, according to EOS Titan), were involved in mutual voting along with pay-offs.
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EOS is ‘one to watch’ in the public blockchain world since it raised the single largest token issue in the history of ICOs ($4bn) on the back of the claimed strengths of its blockchain governance and voting system (EOS token owners vote to elect the 21 nodes who process transaction blocks).
The Cointelegraph article goes into some detail regarding the claims of suspicious voting among block producers, which appear to demonstrate clear patterns of ‘you scratch my back, and I’ll scratch yours’ among some of the top 21 block producers.
Accusations of “irregular voting and collusion among block producers” therefore strike at the very heart of this 4th generation blockchain architecture that was meant to overcome the weaknesses (scaling, energy consumption) of the leading public blockchains (Bitcoin and Ethereum), whilst avoiding the perils of centralisation.
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Nice post @vlemon. This was always the fear with EOS. I’m encouraged by the fact it’s been exposed and hope a solution is found quickly. The idea of a completely decentralized platform/economy is a good one...but perhaps slightly ahead of its time. I think the problem is, most token holders don’t vote...nor do they really understand the importance of why they need to vote. This should have been better anticipated. I feel EOS needed to be slowly morphed from a centralized platform to a decentralized one. Instead they opted to just jump in with both feet. The good news is, EOS was built to change and adapt on a dime. What that looks like, I’m not sure. This is one hell of an experiment with many brilliant minds and a whole lot of capital behind it. I’ll be interested to see where it goes from here.
Hello there @workin2005,
I had missed your comment, I would agree with you. But this "bad news" that could have been worse is added to other ones that I mentioned previously :(.
I would be glad to share again on this topic.
At the risk of beating a dead horse, Vitalik predicted way back in 2017 that on-chain governance would create cartels similar to what happened to LISK.
I hate that you are right so often ! :)
But we see kind of the same thing with STEEM or even BTC mining cartels.
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21 nodes a number that resemble the 21 witnesses of steemit.com
Any reason why 21?
Is EOS voting system just a copy cat 🙀 of steemit.com 21 witnesses???
Or just a coincidence.
If I remember correctly it had to do with statistics from which point there is a significant distribution of the system.
Maybe also it was a wink to Steem ;).
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Your post had been curated by the @buildawhale team and mentioned here:
https://steemit.com/curation/@buildawhale/buildawhale-curation-digest-10-02-18
Keep up the good work and original content, everyone appreciates it!
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