EOS Blockchain Ecosystem Criticism on EWS by Block OneMarch 18, 2020
The EOSIO ecosystem is growing stronger by the day. One of the Leading Block Producer @EOS Nation recently announced their plans for a #EOS Worker Proposal System. This has been coming for a long time, and perhaps, at last, it is coming.
Binance has recently announced support for the #EOS staking and rewards. Telos is a blockchain Network which is based on EOSIO technology; it is a decentralized not-for-profit organization which is charged promoting the blockchain network of the future. EOS blockchains are built on EOSIO.
Telos and EOS are the main public networks, which are run using the EOSIO software. Block One is the company that writes the EOSIO. The EOSIO is often inter-used to represent EOS blockchain. However, it is important to understand that the EOS is different from EOSIO.
Sydney Ifergan, the crypto expert, tweeted: “The EOS on EOSIO facilitates with the infrastructure for building several decentralized applications. Data is the best proof to identify the performance of the different Dapps. It helps to verify data.”
The EOS Defi Ecosystem leverages the decentralized networks to transform old financial products to transparent and trustless protocols, which become capable of running without intermediaries. There are more than 22 noteworthy projects based on EOS.
EOSREX is an interface that focuses on EOS Mainnet’s “Rex” smart with which users will be able to lend EOS and borrow the CPU and NET resources.
EOS DT is the EOS based stable coin, which facilitates a self-service App that generates stable coins versus crypto collateral in a way to manage their existing user positions. It makes use of the Equilibrium Framework to create the asset-based EOSDT stable coins.
Several decentralized exchanges are based on the EOS, which includes but are not limited to Bancor, Newdex, Switcheo Network, WhaleEx, and YOLO.
EOS Worker Proposal Model
The EOS might turn out to be a DAO-like model to fund the ecosystem. This EOS Worker Proposal funding system will permit developers to receive funding from the EOS blockchain. Attic Labs and EOS Nation prepared the new funding mechanism from EOS. The EOS holders will be able to submit the budget for their projects. The project will be evaluated by the block producers who are chosen by the token holders. The sooner the proposal is approved, the developer will receive the funds into their projects from the EOS blockchain.
Block.one, however, has criticized the model stating that the proposal does not have an effective method to analyze the risks associated with the projects involved. Further opined that ultimately the EWS would separate the EOS from the blockchain community!