There's an account on the EOS blockchain with $35 million worth of tokens in it that no one can touch - and its balance is growing constantly.
At the end of EOS' first 12 months as a live blockchain, this account will be worth close to $192 million, assuming the recent EOS market price of $4.79.
The EOS blockchain network was incomplete when it went live in June, with much of the functionality stipulated in the network's "Constitution" and white paper remaining unbuilt.
A key aspect of the EOS protocol was, according to the white paper, "a defined governance process" which avoided other blockchains' "Ad hoc, informal, and often controversial governance processes that result in unpredictable outcomes."
While the white paper doesn't mention referendum voting, the EOS constitution explicitly requires the process for making decisions that affect the entire network, like setting up a system to spend the eosio.
At the same time, a group known as the EOS Core WPS Working Group is developing the "Worker proposal system" or WPS, a mechanism described in the EOS white paper that would be used to submit proposals and allow token holders to vote on whether to fund them using tokens from the eosio.
According to Orchid Kim, a community builder at the block producer candidate EOSYS and a member of the working group, creating the referendum voting mechanism and allocating the savings to future projects is the only way "For EOS to live up to its expectations."
Some community members disagree with Kim arguing that EOS should ditch the WPS and the token inflation that funds it.
Because the system is based on the one-token-one-vote approach, many of those both inside and outside the EOS community see accounts with large numbers of tokens as determining the outcomes of votes.
Much like the debate around the WPS, there remains a continued debate around the EOS constitution, which is currently in "Interim" status because it has not been ratified through a referendum.
With Nearly $200 Million on the Line, EOS Is Building A Voting System
에 게시 됨 Aug 27, 2018
by Coindesk | 에 게시 됨 Coinage
Coinage
이 기사에서 언급
최근 뉴스
모두보기
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.