Is it still decentralized? EOS developer Block.one uses tokens for voting

Block.one, the company behind EOS, uses its lion’s share of EOS Supply for network governance. The company is doing a disservice to decentralization in the network.With proof-of-stake (PoS) it is one of those things. On paper, the idea of standing up for network integrity with a certain amount (stake) sounds tempting. PoS advocates see it above all as an energy-efficient alternative to proof-of-work (PoW). Since not all attack vectors of the new conses algorithm have been researched, there are only a few well-known PoS projects to date.One of them is EOS. The top 10 cryptocurrency with a current market capitalization of US $ 2.5 billion was pounded by Block.one in 2017 and is in competition with industry leader Ethereum (ETH) as a smart contract platform.

 

Press release anncounced

As Block.one announced in a press release, the company now wants to get involved in network governance. For this purpose, Block.one establishes its own department with the Public Blockchain Engagement (PBE), which mediates between “the company and Public Blockchain Communities”. Block.one announced this on its website on April 8th.In plain language, this means that the EOS developers are no longer on the side of the page, but will actively participate in the design of the blockchain.Initially, however, the company limited its engagement to voting. This means that Block.one will not initially use its tokens for staking and will stay out of block production. Rather, the platform uses its tokens to play a more active role in network governance – one wants to help independent developers implement their projects in EOS.