{"id":44179,"date":"2019-06-08T07:48:39","date_gmt":"2019-06-08T05:48:39","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=44179"},"modified":"2019-06-10T16:54:16","modified_gmt":"2019-06-10T14:54:16","slug":"weiss-ratings-eos-downgraded-due-to-centralization-issues","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/weiss-ratings-eos-downgraded-due-to-centralization-issues\/","title":{"rendered":"Weiss Ratings: EOS Downgraded Due to Centralization Issues"},"content":{"rendered":"\n<p>A number of ratings platforms have popped up over the past\nyear or two in the ever increasingly competitive world of crypto. Their\napparent aim is an attempt to compare tokens on various merits such as\nadoption, technology and investment risk. Weiss is one of the more respected\nratings outlets and they have just dropped a bombshell on EOS.<\/p>\n\n\n\n<p>EOS has had a bit of a rough ride recently. The Ethereum rivaling\ntoken was pumped leading up to the <a href=\"https:\/\/ethereumworldnews.com\/what-block-one-announced-about-eos-on-june-1st\/\">highly\nanticipated B1 event<\/a> last weekend. There was a lot of fomo in anticipation of\nsome big announcements when never really materialized. Since then EOS has\ndumped over 20 percent to its current level.<\/p>\n\n\n\n<p>Weiss Ratings has just added fuel to the fire with a recent\nannouncement stating that they were <a href=\"https:\/\/weisscrypto.com\/en\/crypto\/eos\/summary\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">downgrading EOS<\/a> due to\ncentralization issues;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>\u201cEOS DOWNGRADE: #EOS has serious problems with centralization, and their event last week did anything to alleviate that, so we\u2019ve severely downgraded its technology score. It\u2019s now up to #ADA to launch a truly decentralized #PoS #blockchain. No pressure.\u201d<\/p><\/blockquote>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">EOS DOWNGRADE: <a href=\"https:\/\/twitter.com\/hashtag\/EOS?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#EOS<\/a> has serious problems with centralization, and their event last week did anything to alleviate that, so we\u2019ve severely downgraded its technology score. It\u2019s now up to <a href=\"https:\/\/twitter.com\/hashtag\/ADA?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#ADA<\/a> to launch a truly decentralized <a href=\"https:\/\/twitter.com\/hashtag\/PoS?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#PoS<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/blockchain?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#blockchain<\/a>. No pressure.<a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#Cardano<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#BTC<\/a><\/p>&mdash; Weiss Crypto Ratings (@WeissCrypto) <a href=\"https:\/\/twitter.com\/WeissCrypto\/status\/1137027785598427136?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">June 7, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The tweet included a blatant pump for Cardano which has been\nvery slow getting off the ground in terms of development. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EOS Centralization Woes<\/h2>\n\n\n\n<p>The EOS centralization problem has been <a href=\"https:\/\/medium.com\/@CryptoPeterG\/eos-centralization-problem-bd7a392eeed2\" rel=\"nofollow noopener\" target=\"_blank\">widely publicized<\/a>. The system only has 21 nodes which check and validate transactions. Every 126 blocks 21 new nodes get elected by the stakeholders, this means that every round an elected node \u2018mines\u2019 6 new blocks. It employs a Delegated Proof-of-Stake (DPOS) consensus model which means investors are rewarded with voting power and can decide who gets to mine the <a href=\"https:\/\/ethereumworldnews.com\/tag\/eos\/\">EOS<\/a> blockchain.<\/p>\n\n\n\n<p>The entire ecosystem is essentially built upon the EOS Core\nArbitration Forum (ECAF), which is effectively its \u2018judicial branch,\u2019 and the Block\nProducers. The 21 elected block producers are rewarded with EOS tokens produced\nby inflation, the constant voting process means that those BP candidates with\nenough votes can replace current block producers. <\/p>\n\n\n\n<p>It doesn\u2019t end there. A recent report by blockchain\nanalytics firm AnChain suggests that most users associated with dApps are\nactually bots. AnChain studied the top ten gambling apps on EOS and concluded\nthat they accounted for 65% of all transactions on the EOS blockchain.<\/p>\n\n\n\n<p>According to Coingeek the results of the analysis show that\nin the first quarter of this year bots comprised 51% of all unique accounts and\nover 75% of all transactions. The firm added; \u201cIn other words, every day the\nequivalence of $6 million USD in transaction volume is driven by bad bots.\u201d<\/p>\n\n\n\n<p>Since its 2019 high of $8.45 EOS has dumped 22% to its\ncurrent price of $6.57 despite a Coinbase listing. It has dropped down to sixth\nspot being eclipsed by Litecoin which has <a href=\"https:\/\/ethereumworldnews.com\/litecoin-closing-on-bch-as-halving-fomo-pumps-ltc\/\">surged\ninto fourth as halving fomo heats up<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A number of ratings platforms have popped up over the past year or two in the ever increasingly competitive world of crypto. Their apparent aim is an attempt to compare tokens on various merits such as adoption, technology and investment risk. Weiss is one of the more respected ratings outlets and they have just dropped a bombshell on EOS. EOS has had a bit of a rough ride recently. The Ethereum rivaling token was pumped leading up to the highly [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":36700,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[825,2],"tags":[721,207,6921],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/44179"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=44179"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/44179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/36700"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=44179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=44179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=44179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}