EOS is Again Accused of Excessive Centralization
Analysts at one of the largest rating agencies Weiss Ratings downgraded the Chinese platform EOS. The reason for the decrease from B to C was the excessive centralization of the project. https://twitter.com/WeissCrypto/status/1203002106036314113 According to the agency’s report, the TOP-100 of EOS token holders have 68% of the vote, which is too much for a cryptocurrency project. That is, these 100 people can collude and take control of the whole network. Another reason for the downgrade is network clogging, which made the transactions of most small EOS holders to stop. This is not the first time that Weiss Ratings has downgraded the EOS project due to neglect of the industry’s fundamental principle - decentralization. The last time this happened in June of this year. Recall that EOS is one of the main competitors of Ethereum, this project raised investments more than 4 billion US dollars during the ICO.