[Vlog] Crypto & Cardio #12 - EOS needs to ‘get out of it’s own way’

in vlog •  6 months ago

In today’s video I share some thoughts about EOS

Fanciful 'nice-to-have'

Right now, all the ‘drama’ around governance and arbitration is a classic example of a blockchain getting in it’s own way.

The primarily appeal of EOS is as a decentralised blockchain platform that can scale and deliver a myriad of applications similar to Steemit.

Everything else is secondary.

The governance/ arbitration feature is at best a nice-to-have and at worse a fanciful distraction.

Lightweight, light-touch governance

While I understand the appeal of account recovery, there are more straight forward (and scalable) ways of delivering it. As STEEM as proved.

Also any governance on a decentralised blockchain should aim to be both lightweight and light touch. Failing that the application and administration of governance over disputes on the chain should at the very least be clear and unambiguous.

Block.One Splash

Another point I touch on in the video is Block.One announcing their intention to exercise their voting right.

This will undoubtedly have a huge impact on the make-up of the block producers and the direction of the platform.

People can debate whether it is a good or bad thing. I simply say it is a DPOS thing. In that those with the biggest stake have the option to exercise the biggest say. Given they have the most to lose if it all goes pear shaped.

Hands on Dan

I also forewarn that, from our experience with STEEM, @dan is very hands on in terms of expressing his opinion in an attempt to influence the direction of platforms he is involved with.

@dan's principles and politics are clear. They are the driver behind his projects. If he feels something is going wrong, he’ll look to chance it fast.

This was witnessed in the amount of hard forks that happened in the early days of STEEM. Many of the changes were birthed from @dan's 'proposals.’

Slow burn Ned

@dan’s mindset can also be contrasted with the laissez faire approach of @ned and the current Steemit team.

Although Steemit are the largest STEEM stakeholder they do not exercise their witness voting right and remain neutral in terms of commenting on activities that could be seen as detrimental for the platform. Preferring to leave it to everyone else in the community to set rules and boundaries. Which often results in the largest active whales setting the tone.

The current Steemit team is focused on ‘big ticket’ infrastructure developments like SMTs, Hivemind and Communities. With a view to minimising the ‘Steemit’ role in the eco-system and encouraging third party entrepreneurs to pick up the mantle in terms of building out applications - and supporting them via delegation if needs be.

That's my take on the EOS/ STEEM contrast.

Quick of the Blocks

It remains to be seen which approach will work best in the long run.

However if EOS holders expected Block.One, with their 100million tokens and $4bn war chest to ‘wait-and-see’ how it plays out, they will be in for a rude awakening. Whether this is an example of Block.One ‘getting in it’s own way’ remains to be seen. However it will be interesting to where it all leads.

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Hi man how is you day!
I had made you a portrait but unfortunately you couldn't see it due the the full time you had organizing for the contest you were running so i thought i may post it here since the post was declined 10days ago :)

New Doc 2018-06-18-03.jpeg

Sad to see EOS around $8 again. Wish i sold some around $20 ark but this is just the start.

sir plz upvote my post plz sir plz

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Hey, @radhesupport! While there are a lot of people who just ask for upvotes, many people have found a better long-term strategy to success is to consistently post quality, original content on their blogs. They also find ways of interacting with other people, like commenting on their blogs or joining Discord group with like-minded people.

You don't have to follow this advice. I'd just hate to see you get muted and miss an opportunity to get future votes from people just because you didn't know the best ways to interact on Steemit as a beginner. Hope that helps!

As per todays crypto market BTC & ALT coins will go up soon
Get Ready hope for green market .......

Crypto & Cardio = Gold. I love your posts Nanzo. Please keep these up. Stay encouraged and stay creating!

Good video @nanzo-scoop, i like it.

An interesting read @nanzo-scoop. Thank you.

Something I could catually understand for a change! 😂

Interesting post! Thank you for sharing!
(I have new drawings, and hope you look at them;)

Very interesting post friend greetings

That’s great videos. Thanks for sharing. I have noticed now a days #EOS holders getting ditched by phishing attacks and losing their private key. Check here what kind of phishing mail they got and lost their #EOS private key.

Bought EOS at its lowest point last year. I’ve been a huge believer until lately. Thanks for making this vlog. Now I kinda feel EOS is drifting away from decentralisation...

I still need to get some eos, I wish they had it on bittrex, but I have to use bitfinex to get some. This is a good reminder to get on board now whilst they iron out their own things.

definitely the best part of blockchaing, is its way of reinventing itself, of improving and growing fast, Eos seems like a great project that has the support of people with a path made in this new world, still much remains to be explored and for sure you will find the tools for the success of the new protectors!
Excuse my English, I only speak Spanish, the translator helps me.

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One of the main criticisms of Steemit that I hear is that they don't use their stake to help push the platform in the directions they see would be most beneficial. Why that is the case, I don't know. It could be that Ned is just focused on SMTs and Hivemind, but I think the main reason can be found in a post from Luke Stokes where he says that "He (Ned) essentially said he doesn't care about the first million or two million users. He cares about the next 100 million users.".

It will be interesting to see how much of the Steemit community is poached to EOS. I know a lot of larger players in the Steemit space already talk about their endeavors on EOS, so there's a question of if/when they're leave Steemit for greener pastures.

any governance on a decentralised blockchain should aim to be both lightweight and light touch

That's really supposed to be the core of decentralization, that no one person, group, or entity can shut down the blockchain or specific users. It keeps people from getting censored. Yes, it also means that accounts might not be able to be recovered, but if there's a centralized system that's keeping track of everyone's password to "help them recover it if it's stolen" then is it really yours? What if Steemit's repository gets hacked? Could someone steal the Master Passwords and use them to hijack accounts irrevocably? EOS is still in the early stages, but that will be something that they'll want to get sorted out.

the application and administration of governance over disputes on the chain should at the very least be clear and unambiguous.

Totally agree there.

Really informative, especially the part about Steemit. 👍 The developement of Steemit is so amazing and this community is so unique! 👏