Read Сryptocurrency News

EOS User Agreement Update Finalized Backing Voting Gridlock

EOS User Agreement Update Finalized Backing Voting Gridlock
Copyright on text and image:
EOS User Agreement Update Finalized Backing Voting Gridlock

Aneta Karbowiak, a senior writer at EOSwriter (a publication focused on reporting news related to the ongoing development of EOS, one of the largest smart contract-enabled decentralized application deployment platforms) said that unanimous approval, which has resulted in the new user agreement being put in place, did not come easy.

This, as Karbowiak says, came only after months-long debates and arguments related to how a decentralized platform such as EOS should be managed.

The importance of Block Producers (BPs) to the EOS network sparked an ideological blockchain debate with ‘realists’ arguing in favor and ‘purists’ arguing against. Karbowiak wrote:

“BP is faced with the difficult problem of dealing with blacklisted accounts, which could be discarded by the EOSIO Core Arbitration Forum (ECAF) and has decided to take things in their hands and put the EUA up for 21 BPs to approve, EOSWriter. What this means is that BPs themselves change the system without waiting for the referendum results.

Critics of the EUA have argued that it was missing the BP Agreement mentioned in the same EUA, while others noted that the referendum should be used as a main signalling instrument rather than [as] governance by BPs. Moreover, BPs and other whale EOS token holders have been thought to have true influence on the rankings.”

The BPs who signed off on the new EUA are: EOSNewYorkio, ArgentinaEOS, Cypherglass, EOSnationftw, EOScafeblock, Atticklabeosb, EOSflytomars, EOSBeijingbp, EOSbixinboot, EOShenshenio, EOSdacserver, EOSiosg11111, EOSauthority, EOS42freedom,, EOSRioBrazil, EOScannonchn, EOSHuobiPool, Cochainworld, Jedaaaaaaaa, and Bitfinexeos1.

Commenting on the matter, David Packham from EOS42, said:

“The supermajority approval of the EOS User Agreement represents the first time the EOS Mainnet has had a properly ratified agreement in place as part of governance. This forms a stable foundation upon which future amendments can now be proposed and made as EOS and the community needs develop out.”

“Things Are Not So White and Black”

Karbowiak also wrote that BPs are putting Delegated Proof of Stake into action despite having pledged to abide by the rules set by the previous constitution. She further noted that” things are not so black and white as one would think.”

Elaborating on the overall situation, the Karbowiak wrote that “the interim constitution is not so easy” to understand. She believes the rules created so far have proven to be unenforceable, and that the ECAF itself had little power to enforce anything if BPs didn’t agree.

EOS is the biggest blockchain platform for decentralized app (DApp) volume, according to new numbers from Dapp Review. In the last 24 hours, $15.1 million worth of EOS flowed through EOS-based DApps.

In the same period, the Tron network recorded $10.2 million in TRX volume, while Ethereum saw $5.4 million in ETH volume. Bitcoin could cross $1 million in seven to 10 years.

To promote EOS’ decentralization, major Block Producers are allowed to take part in collaborative voting.

But such a situation doesn’t seem to be very beneficial for the general idea of decentralization, especially given EOS’ coin holder voting framework. With its election system, the EOS network always claimed to be a highly democratized network because, just like the Tron network, it lets the users vote on the companies that they want and, therefore, it works just like a representative democracy.

EOS User Agreement Update Finalized Backing Voting Gridlock

This article was automatically published by our aggregator and may not contain important advanced information, such as links, images, user tweets and much more. Also, we inform you that the project IntoCryptoNews (ICN Aggregator) - is not the author of this article and may not support the author's opinion of the original article. We strongly recommend that you read the original article on the site:

Tags: Altcoins

Add comment


Latest Video News

Price Analysis from

Popular For The Week

latest Press Releases