ConsenSys instructed to study: EOS is not a Blockchain, but a “Cloud Service”
Home News ConsenSys instructed to study: EOS is not a Blockchain, but a “Cloud Service”
Marcus Misiak –
One of ConsenSys at the company white block commissioned study claims that the fifth-largest crypto currency by market capitalization, EOS, no Blockchain, but a “Cloud Service”. The results revealed a lower Transaction throughput than EOS claims.
The provider of Blockchain-test solutions, white block, has announced a successful and independent Test of the EOS-a platform. For the Test resources needed were provided by several companies, including the Ethereum Community Fund, Maker DAO, Google, Duke, USC, Microsoft, and ConsenSys, to name a few of the 23 participants. The results could make big waves, if you consider that EOS is now marketing itself as the “Ethereum is a Killer.” The on 1. November 2018 report, published with the title “EOS: Architectural, Performance and Economic Analysis” comes to the conclusion that EOS is not a Blockchain, but only a “distributed homogeneous database”.
The study remains not only in the case of this a accusation, but at three other shortcomings of the EOS. The conclusions from the study were published in a Medium Post, sound pretty hard:
- The EOS-throughput is significantly less than was originally in marketing materials such as the EOSIO Dawn 3.0 Release claims.
- EOS is not a Blockchain, but rather a distributed homogeneous database management system, a clear difference is that the EOS-transactions are not validated cryptographically.
- The EOS Token, and RAM market is Essentially a Cloud Service for the calculation of the network computing resources, in a black-box to the user with Credits can access. There is no mechanism for accountability, because there is a lack of transparency, which can make block manufacturers in terms of computing power.
- EOS suffers from consensus errors and has no Byzantine fault tolerance.
The study found that EOS has exceeded optimal settings 250 transactions per second (TPS), and that the “current maximum throughput of EOS with about 4,000 TPS”.
The biggest accusation is that EOS is not a Blockchain. As TheNextWeb reported, came to the white block to the conclusion that the EOS is Essentially a Cloud Service for calculations, the EOS network has effectively no accountability, how much computing power block producers can create. The study also came to the conclusion that the architecture of the EOS effectively promotes centralisation and the most important aspect of a Blockchain that is not guaranteed invariance by the Design.
EOS was already a few months ago, in the criticism, because there was collusion between the block producers. The cryptocurrency exchange Huobi, which is one of the 21 block producers (BP), stand at the end of september 2018 in the suspected voices of other BPs bought and sold. While Huobi contested the allegations in the best, tweeted Ethereums Vitalik Buterin, that the controversy was predictable. The study could, therefore, be a further blow to the credibility of the EOS network.