View Markets Data →
Altcoin News

EOS “governors” order the suspension of 27 accounts

In a possibly contentious fashion, the token holding the rank of the fifth largest cryptocurrency has directed its management team to freeze 27 different wallet addresses from transacting.

EOS, launched only about a week ago, is making news again with controversial moves in the network’s approach to monitoring.

The team which has been organized to resolve issues on the cryptocurrency’s blockchain – the EOS Core Arbitration Forum – released an “Emergency Measure of Protection Order” last week which ordered the block producers who are in charge of maintaining the network’s ledger to ban transactions from 27 wallets, giving no reason at the time.

While the controversial move has its share fair of individuals calling foul – or rather, calling “[civil] asset forfeiture” meeting blockchain, others are not so quick to call the network out on its manner of authority.

Multicoin Capital’s Kyle Samani, has said that “the 27 accounts were doing spam attacks like the people who impersonate me on Twitter,” adding in that he is “supportive of scaring the spammers out“. We can note, however, that his view could have bias owing to the fact that Multicoin Capital has funds invested in EOS.

EOS seems to have taken an unusual approach to monitor the blockchain on more than one occasion. Firstly, the company who carried out the project’s crowd-fund, Block.One, wrote the blockchain’s code, but then stepped back after the network was launched to allow for the platform to become fully community-driven. Unconventional as it may be, it appears to imply that the platform is aiming to be as decentralized as possible despite the fact that EOS was launched in order to offer a network with a focus on high transactions – which usually takes a more governed, or centralized, approach compared to Bitcoin’s proof-of-work consensus model.

Currently, EOS is up by 8.95% day-on-day, and presently trades at $7.93 USD.