EOS News and Price Overview: EOS Arbitration Raising Issues On the Network and Community. Friday, June 29
Important EOS News
EOS Arbitration Raising Issues On the Network and Community
The EOS network has recently been harangued for its sweeping arbitration rules. The CTO of the company behind EOS, Dan Larimer recently said that he is not in support of an entity having such powers in a decentralized economy. In his reaction, Larimer said:
"My official opinion on disputes regarding stolen keys is that no action should be taken," referring to the EOS Core Arbitration Forum "The producers should campaign on using some of their pay for donations to make the victim whole."
Larimer who made the post on the official Telegram channel of the network on Tuesday was reacting to the ideological rule that decentralized platforms should not be interfered with unless it is an issue with the code.
The EOS arbitrator had issued an order asking for a freeze on 27 accounts that have been compromised due to hacks or other fraudulent activities.
An EOS Validator Ignores Order from Governance Body
A report says that one of the validators of the EOS network refused compliance to the order which has been referred in some quarters as “haphazard and unprofessional”. The EOS Core Arbitration Forum (ECAF) has been advised by one of the largest validators of the network to figure out their roles appropriately after the governance body ordered that some accounts be frozen, effectively causing an additional mayhem in a network that is already viewed with disdain in some quarters.
EOS New York said that it has no plans to comply with the recent freeze order until it figures out ways of proving its authenticity. Kevin Rose, Co-founder of EOS New York said about the issue "We will resume normal processing once communications can be established on-chain such that they can be audited by both EOS New York and the community."
EOS/USD Price Chart, Friday June 29th:
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