EOS is not a Blockchain Technology—Whitebloc
A new report has made it known that EOS might not be the network we think it is. This new report claims that EOS is not a blockchain network. This report was submitted by a blockchain research company— Whiteblock Inc, which recently conducted an independent benchmark test on the EOS blockchain.
The Whiteblock Inc Research Report
The controversial report from Whiteblock Inc has caused a stir amongst EOS fans. Some fans of the network have so far refuted the report from Whiteblock and are of the notion that this is a form of conspiracy to discredit the top ranking public project.
The content of the controversial report has some comments which have truly brought the credibility of EOS as a blockchain network under question.
The reported stated that:
“EOS is not a blockchain, rather a distributed homogeneous database management system, a clear distinction in that their transactions are not cryptographically validated. EOS token and RAM market is essentially a cloud service where the network provides promises for computational resources in a black box for users to access via credits. There is no mechanism for accountability due to the lack of transparency on what Block producers are able to create in terms of computational power.”
Less 50 Transactions Per Seconds
The report has also made it know that the amount of transactions per second processed by the EOS network is far below 250TPS. The report made it know that this number is actually below 50 TPS!
The report made this known through a statement which stated that:
“As observed in the section on performance, the transaction throughput in the system does not exceed 250 TPS even in optimal settings with 0 ms of latency and 0% packet loss. During tests with real-world conditions of 50 ms of round-trip latency and 0.01% packet loss, performance dropped below 50 TPS putting the system in close proximity to the performance that exists in Ethereum.”
The report further stated that:
“The research results prove the inaccuracies in performance claims and concluded that the foundation of the EOS system is built on a flawed model that is not truly decentralized.”
As expected, this report from the reputable blockchain research company is currently being examined by several experts across the industry to determine its credibility and fault.
However, the EOS camp has not released any statement in relations to this.