• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

‘No One Should Have That Power’ – Charlie Shrem Slams EOS Funds Freeze

Kyle Baird by Kyle Baird
4 years ago
in EOS, Altcoins, News, News teaser
0
Advertisement

EOS is under fire yet again over a controversial decision by the 21 block producers — to freeze seven accounts that are suspected of carrying stolen funds. This decision circumvented the arbitration body that was put in place to handle matters of this nature. Criticisms of EOS’s ‘constitution’ and ‘centralization’ continue to plague the newly launched platform. 


Is That How Things Are Done?

Decentralized apps platform EOS has been the subject of controversy over the course of this month, beginning with the two-week late launch of their Mainnet on June 15.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Its ‘constitution’ has also been an item of heavy scrutiny, as most of the articles are somewhat ambiguous and lack definition. One puzzling article in particular states that any account holding EOS that remains inactive for a period of three years is subject to forfeiture and can, as a result, be auctioned off, with the proceeds divided up between remaining members.

EOS – EOS (Dawn 3.0 Release)

EOS’s most recent debacle involves the freezing of seven accounts which are suspected of carrying stolen funds. This decision is questionable as it was made by the block producers irrespective of the refusal of action by the EOS Core Arbitration Forum (ECAF).

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The ECAF — the body in charge of arbitrating disputes of this nature, refused to take action against the suspected accounts citing lack of authority with only an interim ‘constitution’ in place.

Jackson Palmer — the creator of Dogecoin — tweeted his criticisms of the EOS block producers’ decision to sidestep their own body of arbitration, executing the decision by themselves.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

“A block producer froze several accounts without going through the ‘arbitration’ process,” he noted.

To be clear (and not accused of "FUD"), what happened here is that they froze the accounts with agreement from the other block producers *before* the ECAF (EOS Core Arbitration Forum) had issued a decision.

Why have the ECAF or a "constitution" if that's how things are done?

— Jackson Palmer (@ummjackson) June 19, 2018

‘Protect People And Punish Baddies’

The big argument critics are debating is that ‘decentralization’ and ‘immutability’ are the essences of blockchain technology — and some feel this decision by the EOS block producers violates both.

Charlie Shrem Sentenced to Two Years in Prison

On the other hand, some members of the EOS community feel that the EOS block producers are within their rights to protect their investors and community by taking action against those who violate the ‘constitution’.

A Twitter user that argued the case for the block producers decision was retorted by Bitcoin Foundation vice chairman Charlie Shrem who asserted that no one should have the power in the crypto space for “protecting” and “punishing” and doing so is simply a “waste of everyone’s time.”

What do you think about the block producers’ decision to freeze the suspected accounts? Let us know your thoughts in the comments below! 


Images courtesy of Twitter, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Kyle Baird

Kyle Baird

Related Posts

Elon Musk

Elon Musk To Twitter: Let’s Do A Public Debate On Bots!

2 days ago
Vitalik Buterin

Ethereum Founder Vitalik Buterin Just Dumped 25 Trillion Tokens From This Project

5 days ago
altcoins

How Summer Is Turning Into A Short-Lived Altcoin Season

6 days ago
Monero (XMR)

Impending Closure Of Monero Largest Mining Pool Sparks Decentralization Debate

1 week ago
Filecoin

Here’s Why Filecoin (FIL) Is Trending With Double-Digit Gains

1 week ago
Barcelona

Barcelona FC And Socios.com Sign $100 Million Deal For Web3 Push

1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.