🔥A new corruption scandal has broken out in the EOS crypto community. Block.one, an EOS company, is trying to fend off attacks. Detractors claim that Chinese crypto whales have banded together to maintain control of the blockchain.
🌎 Last week an anonymous source leaked an internal document with some rather sinister accusations. It says that "collusion, general voting and getting paid for it" is a common place among EOS block producers. And among them is the Huobi crypto exchange.
☀️The essence of the allegations is that Huobi and other powerful producers are collectively voting for each other to maintain their status and secure passive income. The document further states that the exchange received EOS tokens for its vote.
⚡️Huobi denies any connection to such transactions related to the election of EOS's block producers. The crypto community was so active and loud that the rest of the producers and CEO of Block.one, Brendan Blumer, also had to publish statements about this.
Blyumer recalled that the EOS system is still in the manger.
📉 “We are aware of some unconfirmed allegations of unfair voting. Block.one believes it is important to ensure free and democratic elections on the EOS system. The company can vote along with other holders to support the process. We continue to work to make voting even more transparent. ”
💥EOS uses the Delegated consensus model Proof-of-Stake. The point is that investors get more influence in voting on who will be mine blockchain. Bitcoin runs on a Proof-of-Work consensus and rewards miners based on how much computing power they contribute to the system. In EOS, the right to add blocks is given to 21 candidates through a “democratic” vote.
🔥Currently, the mining pool Huobi is considered the third largest block producer and buys 833 EOS daily (or $ 4 at the current exchange rate). Producers also get paid “on the back-up”, even if they are not actively mining.
📌If the rumors turn out to be true, the voting system will be compromised. The EOS Alliance Block Producers insist:
🌎 “The EOS voting system is based on timeless principles of fairness and uses a documented, fair and open process.”
📈The situation remains unclear, nothing has been proven yet. But it is worth noting that this is not the first scandal around the EOS blockchain.