About 15 percent of all token holders have voted for Block-producers, the EOS Mainnet is live now everything’s hunky-Dory, right? Not quite: in the last days EOSIO attracted unpleasant attention, as the Block producers have frozen seven Accounts.
Not quite Mainnet, but then however, to the extent that there is no going Back. After nearly a year of ICO with the Fund-raising Phase for EOS ended on 2. June 2018. Then the confusion came, because the end of the ICOs did not mean the Start of the Mainnets. For this Start-up only 15 percent of all token holders for a so-called Block-producer (English: Block the Producer had to vote; in short: BP). Now this limit is exceeded, and thus the EOS Mainnet is live.
Review: problems with the Choose of Block producers
However, if more than 15 percent have voted, currently – a good three weeks after the Opening of the virtual polling booths – have less than a quarter of all token holder (24,39%; state: 21.06.2018).
The reason for this is that there is no easy way, his voice for one or the other BP. Either one is reflected through the complicated Command Line Interface, or you can be risky and familiar to a Graphical User Interface, a third party, usually the Software of the BPs.
Phishing during the generation of the EOS-Key-pairs
The Chaos here is not the end: apparently there was a lot of fraud during the ICO Phase, so-called Phishing.
We remember that the ICO for EOS as ERC20-Token on the Ethereum block Chain. The investors had to send ETH to the EOS Smart Contract and received is proportional to the daily to be distributed amount a corresponding amount to EOS-ERC20-Token. Then you had to map these ERC20-Token is an EOS-Keypair””. So that means that the transferring of the ICO acquired a Token to a Public-Key/Private-Key Pair. Once the Mainnet then starts, you can move the Private Key to the Public Key stored stocks, or in order for a BP to choose.
Obviously, there were already here, attacks on ignorant or gullible investors. Some people have been phished in the generation of his Key pair. In other words, the user was not displayed when Creating his key pair of the correct Private Key, but a fake. The real Private Key, the (fraudulent) site retains and has in order to the Start of the Mainnets the corresponding EOS.
This circumstance provided in the EOS System now for riot. The question of whether the BPs should not be active. However, the matter is complicated still further.
The Mainnet is not finished yet
The ICO is over, the Mainnet was temporarily started, however, it was the Consitution (i.e., the Constitution) of the EOS system, not the token holders are confirmed. Nor is there any mediator in the ECAF.
The Constitution is a Constitution in purely text, in which the “laws” of the EOS system be retained. It comprises 20 items, with the last indicating that it is in the document to a temporary Constitution, until the token holder has voted and the legislature have confirmed.
The ECAF is the EOSIO Core Arbitration Forum and is a place for Arbitration in the EOS, i.e. mediation, without a court to be in need of. The ECAF provides the so-called “Arbitors”, so Simple. Here, too, there are still no Community-elected leaders. Therefore, the function of the ECAF is not yet in force and for the solution to the Phishing problem may not be the ECAF looked.
Seven Accounts of the BP frozen
As a response to the Phishing attacks were some Block producers in the Telegram group EOS 911. According to the American quick-dial emergency number, 911, to Victims of Phishing attacks helped to get to your EOS.
A survey was carried out, which revealed that most of the people have lost due to Phishing your EOS (52 percent), that they are still in possession of their respective ETH-address (81 per cent) and to choose when trying for a BP not found out that you can control your EOS (66.7 percent). The amount of respondents is under 50, and the validity can be questioned.
How to read from a Steemit-entry of the BP EOS42, the
“Block-producers, overlooking all the evidence fully, which provided an indication that the legitimate owners have signaled both their property rights as well as their desire for an account suspension to EOS 911.”
Even without a ratified Constitution or validated Mediator of the ECAF is now come to a judgment: Seven EOS Accounts be frozen for an indefinite period of time. In order to prevent any stolen EOS and exchanged will be deducted.
Criticism of the decision
One or the other voice is critical to the EOS and the approach of the Block producers. Should not this produce actually blocks any longer with the decision to have violence?
Cypher punk legend Nick Szabo commented on Twitter about EOS:
In EOS, a few complete strangers can freeze what users thought what their money. Under the EOS protocol you must trust a “constitutional” organization comprised of people you will likely never get to know. The EOS “constitution” is socially unscalable and a security hole. https://t.co/WusEqBMGBp
— Nick Szabo⚡ IPhone App (@NickSzabo4) June 19, 2018
Szabo is also critical of the “wet code”, so the Constitution in it’s pure text, which has nothing to do with the Protocol itself. In Bitcoin, the Protocol itself is the Constitution, under which all participants combine implicitly, when you use Bitcoin.
The action of the Block-producer means a massive intervention in the Ecosystem. To operate for 1 Million EOS that supposedly came through Phishing, loss, such an effort to break the implicit rules and to argue that it was in “the spirit of the Blockchain”, is not convincing everyone in the Community.
The advantage of a Blockchain is supposed to be straight, that none of the Central instance of bend must. If the Block producers would be good enough to know and collaborate with each other – what would be possible? The question remains, whether the EOS is, in this respect, indeed, decentralized.
Meanwhile, a signed emergency notification of the ECAF has been published, the seven Accounts are “officially” frozen.
What do I do now?
Also, I participated in the ICO and my Token registered. For me personally, the question, what do I do now.
For the Block producer, I have participated in. Not much would matter to my voice.
My Token, I have not moved yet, or me, a Software is downloaded, with the I could. For me, it means HODL and wait.
On the one hand, I see it as problematic that in EOS a couple of parties of far-reaching decisions that are there for me as a user is no trivial way to Choose and that there is a Constitution in purely text.
On the other hand, you can not tell at the moment whether EOS will fail. Since I have not invested more than I could lose the pain-free, I’ll wait until all the dust around the Mainnet launch.