EOS: The State of Current Governance
EOS: The State of Current Governance
This is conducted for people who are closely concerning on the cryptocurrencies and Blockchain news, especially EOS – one of the most influential cryptocurrencies recently. As we both knew that there were some rumors of EOS turmoil in the community which made some negative effect on investment and exchanges as well. Therefore, the author would like to show readers not only the real situation but also the specific point of view in which it would help new investors make their own decision in the best way.
Website: https://eos.io/
Firstly, it should be clear about EOS. It can be easily understood as a blockchain technology much like Ethereum. Its website claims it is “the most powerful infrastructure for decentralized application”. It plans to be a software that will act as a decentralized operating system. Developers can then build applications on the EOS software. It will be highly scalable, flexible, and usable. And as in its whitepaper: the EOS software is designed from experience with proven concepts and best practices, and represents fundamental advances in blockchain technology. The software is a part of a holistic blueprint for a globally scalable blockchain society in which decentralized applications can be easily developed and governed. If the EOS team can really pull off all of these promises, it would be hugely successful. However, until they have something to show, this all remains just a vision. And right after they launched EOS then the competition to become one of the 21 Block Producers is heating up and for a good reason as one of the most exciting innovations of them. It not the decentralized dream of millions of independent notes but it’s at least 2x closer. And now EOS is available for trading on Huobi, paired with USDT, BTC, ETH, and HTi. The investors could visit this page for more info:
https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523
Beside that it should be more effective if you could take the time to review the video:
https://medium.com/eos-new-york/the-state-of-eos-governance-ecaf-regarbiter-401c073d622d
As mentioned at the beginning, recently EOS got some negative news that called as ECAF issue. So far, it seems many both inside and outside of the EOS community are not clear about the ECAF (the EOS Core Arbitration Forum) and its issue. In the simplest way of understanding, ECAF is the main body tasked with solving disputes between token holders on the network, and having control over transactions. However, its methods and processes seem to be unclear and that make the mess of information to the community. Beginning from the middle of June, just after few days after the network’s launch, there are seven addresses was forced to stop from making transactions. Then few days after that, an order made to keep going to force to freeze 27 more accounts with the logic and reasoning would be posted after one day. Right after that, an order was issued with the same situation. That order, however, turned out to be a fake. With all the mayhem, EOS New York made a big decision of ignoring ECFA decisions. And according to Rose, a block producer, ECAF needs improved processes, more transparency and ultimately, competition. And more, Roshan Abraham of EOS Authority, another top block producer, agreed that ECAF's processes are flawed.
https://block.one/
From the situation mentioned above, and due to the turmoil of stolen funds, Block One, the creators of EOSIO have proposed a new constitutional change and Dan and BlockOne are trying to do to make it better. As a state of the current government in EOS, they offer arbitration as a form of dispute resolution meant to be a streamlined and cost-effective alternative to traditional court systems. Because they consider these are formative times and the world is watching as they forge the tools of EOS governance. The very real and emergency situations that they have been trying to deal with as a community will not slow down. Therefore, they need these tools, and quickly so that they can apply governance at scale. They need a clearly defined arbitration association, a referendum contract, and process, a set of voted on and approved constitutional articles, a method of overseeing worker-proposals and their execution, and more. Amazing technology is converging with a community committed to protecting life, liberty, and property. The future is very bright for EOS.
For more information, please register at the following link:
https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523
The issues with EOS are typical in the community. Although ECAF refers to the EOS Core Arbitration Forum, the professionals working together to ensure both sides of a dispute are fairly treated, and the outcome of their decision is sufficient to the needs of the EOS community. Recently, ECAF has been in the mouths of many media outlets, due to the freezing of EOS accounts suspected of phishing propaganda or hacking. Therefore, the author would like to give one person thought that EOS and the governance issues faced by the Blockchain after migration to mainnet, Block One, the creators of EOS have proposed a constitutional change but it seems to go against the EOS whitepaper. However, as the support from Huobi, EOS now is trading on Huobi Pro, it will help the investor with the positive near future in investment by following Huobi Talks as well as EOS block producers panel discussion.
Please refer to the following link:
https://www.huobipro.com/
https://www.hadax.com/
https://twitter.com/Huobi_Pro
https://medium.com/@bensig/eos-block-producer-faq-8ba0299c2896
#HuobiPro #HuobiTalk #EOSblockproducerspaneldiscussion #stateofthecurrentgovernanceinEOS