EOS are applications that introduce a blockchain architecture designed to enable horizontal and vertical scaling of decentralized applications. This is achieved via an operating system-like build upon which software can be constructed.
The resulting technologies is a blockchain architecture which has the capability to scale to tens of thousands of transactions per second, eliminates user penalties and allow for fast and effortless installation of decentralized applications.
It began as an ERC20 token but migrated to its stage in June 2018. EOS is set out to fix the very same problems at Ethereum but utilizes a proof-of-stake system to choose how blocks are confirmed.
Blockchain testing and research firm Whiteblock Inc. has released a damning verdict on EOS, describing it as a “distributed homogeneous database” masquerading as a blockchain.
Dependent on the results, the analysis leads to several conclusions about the EOS software. Whiteblock calls it a distributed optional database management program, which means that their transactions aren’t validated.
The evaluations also show EOS to not be a decentralized technology. “EOS block producers are centralized, and users may access the network using block manufacturers as intermediaries. Block manufacturers are a single point of failure for the whole system.”
Besides too, and as a consequence of the lack of the decentralization, EOS has been faced with a key security weakness. Whiteblock found EOS to be exposed to a Sybil attack, in which fake identities may be used to subvert the system.
Based on Whiteblock, the true throughput listed by EOS below “realistic” network states is lower than that claimed by EOS advertising materials, along with also the network suffers from a fundamental safety issue of repeated consensus failure and absence of Byzantine Fault Tolerance.
Not surprisingly, the cryptoverse is split over the findings, together with the EOS camp pointing out that the research has been commissioned by a number of the major Ethereum programmers.
As is well-known, EOS is among Ethereum’s main competitors in the intelligent contracts space.