EOS Core Arbitration Controversy: The fall of EOS


The launch of the EOS mainnet has been a case in itself, it seems like no good is up for the community, the current state of confusion for the community has created a setback for the new chain which follows the new consensus mechanism. The EOS Core Arbitration Forum(ECAF) also seems to be in vain with the current situation of the network.

EOS Core Arbitration Forum

The ECAF is is a body that is tasked with resolving disputes between token holders on the network, and some predefined control over transactions. ECAF can be referred as the regulatory body that governs the network, but right now it seems like the role and duties that were discussed back and forth over months on forum discussions, clear methods and processes don’t seem to have been decided on.

This is a setback for the EOS community, first prior to the launch of the mainnet the network was found with a bug which was reported by Qihoo360 followed by which EOS also kept a bug bounty for it, after that, as dated on June 17th the Block Producers who validate the transactions in the EOS chain, unanimously decided to block seven addresses from making any further transactions, this decision was also endorsed by the ECAF who previously denied to intervene in the matter.

Setback after Setback for EOS

Followed by that on June 22, an order that revolved around the community that ECAF wanted to freeze another 27 addresses the reason for the same was not stated by the ECAF, the day after that another order was posted for tokens to be revoked from some addresses, however this order turned out to be fake.

EOS New York made a very important decision for the community stating that it will ignore the decisions of the ECAF till the moment their legitimacy is ensured, as the fake news rolled out that was allegedly claiming to be ECAF created a lot of FUD for the EOS community.

EOS New York quoted:

“We will resume normal processing once communications can be established on-chain such that they can be audited by both EOS New York and the community.”

At times like this EOS has to resolve such issues as soon as possible and look into the matter of the consensus arrival by the block producers, there are a lot questions arising on the fact that EOS has failed with its mainnet launch, the attacks, the steps taken by both block producers and the ECAF in order to maintain the network has been pretty harsh and points out the centralized nature of the EOS blockchain.

Let us know what you think about the EOS governance mechanism and ECAF, do you think the community can resolve the issues that has been hovering around since the launch of its mainnet?

Image Courtesy for featured image: eos-wallpapers.com


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