Launched in a community particular about decentralization, the EOS blockchain protocol has been a subject of debate since integration. With only 21 block producers delegated to validate transactions, the EOS blockchain has courted controversies since its implementation.
The decentralization dispute appeared to have been reignited after one of its block producers was reported to have openly offered monetary rewards to token holders for voting for it. Starteos, one of the accredited nodes on the blockchain, reportedly offered to share its revenues with users upon being voted as a proxy.
Noted via a medium post, the Chinese outfit told the public that “after delegating Startes.io as proxy,” users “could get continuous and stable EOS revenue”. This appears to be significant because for a blockchain that advocates decentralization, it goes against its code of conduct.
“Now, Starteos is still gonna stay with YOU, our most important and best friends! And we gonna share the proceeds with you and make through the difficulties together.”
Upon selecting the node as a proxy, the post highlighted that users can select a “stable income mining or random revenue mode” where EOS revenues can be gotten via playing a game called “Lucky Fruit Slots Machine.”
While the delegated block producer is yet to comment, these allegations has managed to dredge up past debates and criticisms about the eligibility of EOS as a major challenger of Ethereum in the world of dApps.
The EOS blockchain
With the EOS project developed to overcome the looming issues in the crypto space, it is only natural that its blockchain protocol come up in crypto discussions. Bitcoin, as known, was developed with the Proof-of-Work protocol for its transactions.
Thus, with the issues faced by this cryptocurrency, the delegated Proof-of-Stake (DPoS) introduced by EOS blockchain appeared to be a welcome change. While this worked well in solving scalability and mining issues, it also brought up the subject of the integrity of transactions.
With EOS running on the DPoS system and working with 21 nodes, this meant that validation of transactions could only be done by these nodes through voting by token holders. This, however, was pointed out by crypto enthusiastsan issue with the blockchain.
According to a report by BitMEX, putting the 21 nodes in charge meant power concentration which was in fact synonymous to centralization. These block producers are major companies which in a way gives them power over choosing which transactions to verify or blacklist.