Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » New scandal around EOS: corruption among block producers

    New scandal around EOS: corruption among block producers

    0
    By BlockchainJournal on October 1, 2018 News
    Share
    Facebook Twitter LinkedIn Pinterest Email

    In the crypto community of EOS, a new scandal related to corruption broke out. Block.one, which supports EOS, is trying to fight off attacks. The ill-wishers say that the Chinese crypto-whales have united to maintain control over the blockade.

    Last week an anonymous source merged an internal document with rather sinister accusations. It says that "collusion, general voting and payment for this" is a common place among the block producers of EOS. And among them is the crypto-exchange Huobi.

    The essence of the accusations is that Huobi and other powerful producers jointly vote for each other to maintain status and secure passive income. Further in the document it is stated that the exchange received EOS tokens for its voice.

    Huobi denies all links to such transactions related to the election of EOS block producers. The crypto community has become so active and loud that the rest of the producers and CEO of Block.one Brendan Blumer also had to publish statements on this matter.

    Blumer recalled that the EOS system is still "in the manger".

    "We are aware of some unconfirmed statements regarding dishonest voting. Block.one considers it important to ensure free and democratic elections in the EOS system. The company can vote along with other holders to support the process. We are continuing to work on making the voting even more transparent. "

    EOS uses the consensus model of the Delegated Proof-of-Stake. The point is that investors get more influence in voting when deciding who will crush the blockade. Bitcoin works on the consensus of Proof-of-Work and awards the miners, depending on how much processing power they have provided to the system. EOS has the right to add blocks to 21 candidates through a "democratic" vote.

    At the moment, the Huobi Mining Pool is considered to be the third-largest block producer and buys 833 EOS daily (or $ 4,700 at the current rate). Producers are also paid "on security", even if they are not actively mining.

    If the rumors turn out to be true, the voting system will be compromised. The block-producers of EOS Alliance insist:

    "The voting system of EOS is based on timeless principles of fairness and uses a documented, honest and open process."

    The situation remains unclear, nothing has been proved yet. But it's worth noting – this is not the first scandal around the EOS blockbuster.

    Bitcoin Election EOS Featured Huobi Work
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    BlockchainJournal

    Related Posts

    ARK Invest Unloads Coinbase and GBTC Shares by Millions Amid Market Boom

    December 6, 20232 Mins Read

    GBTC Discount Shrinks as Bitcoin Price Surges

    December 6, 20232 Mins Read

    IBM Introduces OSO, Designed for Cold Storage of Digital Assets

    December 6, 20232 Mins Read

    Marathon Digital Produced 1,187 Bitcoins in November and Held 14,025 Unrestricted BTC

    December 5, 20232 Mins Read

    Volume Counterfeiting Allegations Rock RATS Token on Gate Exchange

    December 5, 20232 Mins Read

    A New Era for Cryptocurrency: Zodia Custody’s Integration with Harmonize

    December 4, 20232 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.