Block.one – EOS Parent Firm – Plans To Stop Block Producers From Forming Voting Cartels

The parent company of EOS – Block.one, plans to stem voting cartels on the blockchain. Block.one recently announced that it will use the $4 billion raised from its crowdsale to stop block producers from voting cartels.

Decentralization is key in the digital currency space, and it is what most digital currencies are trying to achieve. The recent move of Block.one is to make the EOS platform more decentralized. The aim of the firm is to make sure that the EOS network is governed by a free and democratic election process.

Brendan Blumer’s Comment

The CEO of Block.one, Brendan Blumer, said that “They are aware of some unconfirmed claims about irregular voting of block producers, as well as the rejections of those claims. He said they believe it is extremely crucial to ensure a free and democratic process of election within the network of EOS. He also added that, if deemed necessary, they may vote with other holders to support the integrity of the process.”

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There were claims of EOS voter conspiracy involving Huobi, and this was what led to the statement of the CEO. The claims were based on the information EOSONE obtained. The information claims that other block producers made payments to the Singapore-based trading platform, Huobi. Huobi claims to be innocent, however, the firm has not denied the legitimacy of the leaked information.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$5.43
-0.94%

The value of EOS was trading side-ways on Sunday after the digital currency saw a sharp decline in its trading volume. However, the outlook on EOS on the long-term seems to be brighter after its parent company reaffirmed its commitment to enhancing the governance structure of the blockchain project.

At the time of writing, EOS is trading at $5.75 after an increase of less than one percent over the past twenty-four hours. EOS still holds its number 5th spot on the list of top digital currencies with a market cap of $5.21 billion and a trading volume of $499.58 million.


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