EOS Governance Divides Crypto Community

The hotly-contested nature of EOS decentralization and governance remains at the forefront of blockchain community discussion.

The recent inaction of an EOS block producer - resulting in the loss of 3,570 EOS, or about $27,500 - brought the EOS governance model under harsh scrutiny over the past week, as industry experts and observers debate whether EOS can be defined as a "Decentralized" cryptocurrency.

These block producers are voted in by the EOS community and rewarded with EOS tokens.

EOS token holders are the second element of the EOS ecosystem, while the EOS Core Arbitration Forum function as arbitrators - whose role within the EOS ecosystem created a significant amount of controversy since the EOS mainnet launch.

The ECAF as an arbitration body within the EOS ecosystem is able to make decisions regarding EOS accounts deemed to be in violation of the EOS constitution.

Recently, the EOS governance structure blacklisted a number of EOS accounts that were identified as associated with fraudulent activity.

The reliance of the entire EOS ecosystem on these meetings is an apparent weak point in the $4 billion project, as a recent meeting that was missed by a critical block producer saw 3570 EOS lost in a governance failure.

Blockchain Community BAHJSDA. The execution of ECAF blacklist orders has created dissent within the cryptocurrency community, with several industry experts expressing the perspective that the EOS governance model is at odds with the libertarian ideal of distributed ledger technology.

"An elected EOS Block Producer has an obligation to the community to maintain the operational integrity of the EOS network. If a BP can maintain a reliable infrastructure, it's reasonable to expect they can maintain around the clock communications with the BP ecosystem."

"As many have recently pointed out, the EOS constitution requires too much human intervention. The meaningful part is that the constitution is new and amendable. The EOS community is aware of these issues and is working collectively to resolve them. These are evolutionary steps in a new crypto-asset and time will tell if EOS will be successful."