$2.62 -1.50%
EOS · 34w

Block Producers change EOS constitution following voting gridlock

The long-awaited EOS user agreement was signed by 21 of the network’s 30 Block Producers following months of negotiation and debate following referendum gridlock. The new document replaces the much-criticised EOS interim constitution as the network’s governing document. Under the terms of the new EUA, Block Producers will continue to hold a dominant role in network governance.

Following the EOS mainnet launch 10 months ago, a huge controversy erupted over several details in the interim constitution. Many held the view that the delegated proof-of-stake (DPoS) mechanism underpinning the network was in direct conflict with the principle of decentralization.

Related: Reviewing EOS’s Ongoing Development Since Its Mainnet Launch

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

The EOSIO Core Arbitration Forum (ECAF) soon became a flashpoint as users began using it to raise all sorts of cases, overwhelming a system that was not designed to deal with arbitration cases at such a large scale. Within two months, the community decided that the interim constitution was unworkable and had to be replaced. The next problem was the turnout of token holders in theEOS user agreement (EUA) referendum was just 1.7 percent—well short of the required 15 percent threshold.

While 99 percent of the 17 million voting tokens indicated “yes” over “no,” the very low turnout meant that Block Producers could essentially use their discretion to make a decision. The turnout problem wasn’t helped by a significant number of blacklisted accounts after the ECAF debacle. Eventually, 21 Block Producers decided to take matters into their own hands and effect the switch.

The BPs who signed off on the new EUA are EOSNewYorkio, ArgentinaEOS, Cypherglass, EOSnationftw, EOScafeblock, Atticklabeosb, EOSflytomars, EOSBeijingbp, EOSbixinboot, EOShenshenio, EOSdacse...

Continue on cryptoslate.com
Recent news
EOS -1.50% · app.tokensquare.com · 17h

EOS News Today – Headlines for December 10

EOS News Today – A new digital currency rating index from China’s Center for Information and Industry Development (CCID) is out. The CCID is sp...