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More Problems For EOS
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More Problems For EOS

EOS blockchain platform, whose investments attracted amonted to $4 billion, suspended its work on the weekend due to vulnerability and faced growing criticism by the community.

On 16 June, at 9:56 UTC, the EOS network suspended transactions. At 10:01 UTC, block producers (BP) and most of the backup nodes teamed up to identify and fix the problem. At 10:57 UTC, it was proposed that block producers and backup nodes suspend work and create a backup of all the information that could help in diagnosing the problem.

At 13:02 UTC the reason was set. The developers promised in the near future to release an updated software for the nodes and block producers.

Jackson Palmer, Dogecoin creator, criticized the EOS developers team standing behind EOS in his official Twitter account.

Samson Mow from Blockstream claimed that the testing of the blockchain platform was not carried out properly:


A testnet isn’t testnetting if bugs like that are getting into production.

Meanwhile, the community is demonstrating dissatisfaction of the platform architecture, with 21 block producers acting as miners and confirming transactions. The community notes that the block producers, selected by voting last week, started calling each other by phone to make decisions. And that poses a higher risk of creating a cartel or collusion to block any transaction.

A Twitter-user sarcastically noted that the algorithm, EOS is working on, should be called Consensus by Conference Call.

He also drew attention to the fact that EOS proposes to refund users’ funds, lost due to scams and phishing attacks. That is, EOS will abolish transactions, which is inconceivable in the blockchain of bitcoin. Moreover, last weekend block producers unanimously voted to freeze assets on 7 compromised EOS addresses and reported their decision in the EOS blog on Steemit.


Editor-in-Chief @Coindaily_co and Bitcoin enthusiast

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