Observations | Does everyone's concern about EOS come true?

The underlying platform of EOS has long been criticized and feared that the structure is too concentrated. Now, due to the majority of the nodes and concentrated in a few domestic super nodes, the deepening of the over-centered concerns in the circle is deepened.

EOS's general dapp developers are losing their influence, and for developers, there is no incentive to maintain the entire EOS ecosystem. Even some of them announced earlier this month that they refused to continue using the EOS system, claiming that the main token holders had monopolized the entire platform.

EOS Tribe, the company that once participated in the first EOS launch, claims to no longer serve as the master node (BP), but instead focuses on other blockchain and EOSIO applications.

“Our EOS Tribe has never participated in private elections and always adheres to our principles, so we left EOS as BP, and we are willing to tell the truth and be alert to the rest of the EOS developers – Eugene Luzgin, EOS Tribe"

01, let us first look at what EOS is?

EOS (Enterprise Operation System), a blockchain architecture designed to extend the performance of distributed applications, support multiple applications, provide the underlying templates for dapp, and is the seventh largest public chain in the world, in 2018 On the line, I went through a one-year certificate to raise $4.2 billion. From Bitcoin to Ethereum, slowly extending from only coins to more functional extensions, such as smart contracts and programmable blockchain network systems, EOS's emergence has solved more problems.

02. What are the benefits of EOS's original design?

  1. Support for millions of TPS high performance
  2. Provide expansion for ETH, support a large number of users, solve the problem of delay
  3. Developer-friendly blockchain underlying platform
  4. No commission

03. What is the efficient public chain?

The most characteristic of EOS is his controversial consensus mechanism DPOS, which improves efficiency while greatly reducing the number of nodes. At EOS, token holders vote with tokens, vote for their approved nodes to run blockchains. The internet. In the EOS system, 21 master nodes are selected, which are called block producers. The EOS is rotated by 21 BPs to generate new blocks and receive awards from the EOS network.

It sounds like a proper solution to the problem of the lack of fairness of the node, but the proportion of people's votes depends on how many tokens they hold. This means that people with more tokens will have more influence on the network than people with very few tokens. This is actually very understandable, because the quality of the network's operation will have a greater impact on the interests of those who hold more tokens, which makes their vote more cautious.

The original EOS ecology has a good intention. BP needs to serve the whole system well before it can be voted for. Every ten rounds of block production will make new votes and eliminate bad BP, but EOS's current problem is voting rights. The highest proportion of people are in the 21 BP, and each year their tokens will grow with a 1% reward, creating the phenomenon of the big Evergrande, and the node voting loses its meaning.

Picture production: Daxie think tank

"I think this is a new normal. The death spiral of the whole system is not suitable for developers for a long time. As time goes by, the number of developers of the system is less and less, and the whole system will tend to be destroyed – Aaron Cox"

Most developers believe that the current BP is no longer qualified to be a super node, and even the super node internally agrees with this view, including EOSSphere, ShEOS and so on. They believe that EOS operators are less concerned about the community than other companies betting on the potential of the blockchain. They are more focused on consolidating leadership and gaining substantial benefits. One reason may be that EOS Since the operation of the public chain, his head project has more than half of the game games, while other industries are lack of interest in EOS.

The controversy of EOS has not only recently begun. EOS has been questioned since its inception. Their first controversy was that the super nodes frozen seven accounts showing theft of tokens, and these BPs did not. The so-called EOS specification was drafted and approved without the user's consent or any basis for any action.

"As a public chain, the first thing to do is to set the norm so that the entire public chain developer and token holders have a consensus, one can follow the consensus. – EOS New York ”

The original voting system was to maintain the decentralized blockchain, but now, according to EOS New York, it has become a tool to attract new developers.

Developers' disappointment with Dapp is also a big problem in EOS. Developers often complain that EOS's super node does not regard the development of new dapp as the primary goal. The original EOS design super node can get 1% of the reward each year. New cryptography or improved dapp performance to attract more developers, but first they developed a core working system – 4% of annual voting rewards to develop dapp, because it is impossible to decide how to allocate and was diluted by market funds in May 2019 It was completely wasted, and the funds could support thousands of dapps.

In addition, the 1% bonus that SuperNode receives every year does not reinvest to develop the dapp, but tends to “buy tickets” to developers to maintain their leadership position and rich profits, and EOS has no substantive norms. Awkward behavior. More importantly, there is no incentive for the voting mechanism, and it is necessary to vote for a long time, which makes the voting rate very low. Developers believe that the voting mechanism does not help the whole group, and it cannot promote technology or attract more developers. Overall, the voting mechanism is currently out of order.

Regardless of whether EOS will succeed in the future, the mechanism of DPOS is worth investigating. Even though EOS has all the above drawbacks, it is not serious enough to require everyone's attention. Developers are still waiting for the biggest token. Someone – Block.One and other super nodes make changes.

Recently, the developers who participated in the voting also have an upward trend. Whether for the whole public chain or their own right to speak, developers are also eager to change the downward trend of the overall system. Currently, the number one BP has more than 2 votes. Billion, has more than 25% of the votes in early August. And Lumi Wallet has also compiled a proposal to reform EOS, many other public chains are also willing to assist EOS reform, Telos improved some measures to ensure that potential owners have a way to serve SuperNode, Worbli also compiled a series of specifications to ensure developer rights. Maybe not too late, EOS can still re-orient the track in the right direction.

Source: The network "It's hard to give evidence or know exactly that it will hurt the entire blockchain. Even we don't know why this affects EOS. All we can do is guess the future from the tip of the iceberg. ""

– Aaron Cox

Translated from the website coindesk

Original title "Everyone's Worst Fears About EOS Are Proving True"

By Brady Dale

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