Rajarshi Mitra
Independent Analyst
- 34 block producers have approved of the first stage of the controversial EOS Worker Proposal.
- This new system will allow any EOS holder to propose network rule changes.
- Brendan Blumer, the CEO of Block.One, has expressed his concerns about the proposal.
EOS Nation recently announced that 34 block producers (active and standby) approved the first phase of the controversial EOS Worker Proposal. They noted that this is the “strongest consensus reached on any EOS Mainnet proposal” so far.
The announcement by EOS Nation reads:
Today we executed the 1st of 4 MSIGs required to implement the #WPS on #EOS!
The first MSIG consisted of creating the eosio.wps system account and we're happy to report 34 approvals from BPs! (1/4) -@EOS_Nation
The first stage has launched the eosio.wps system. This newly approved Worker Proposal System (WPS) will be a funding mechanism for the EOS mainnet and is inspired by Dash’s (DASH) Budget Proposal System. The voting happens on-chain and will allow any user with an EOS account to propose network rule changes. Each proposal that passes is funded directly from WPS’s eosio.wps account.
This has gotten Brendan Blumer, CEO of Block.one, the company behind EOS.IO, extremely worried. He pointed out:
Socially authorizing the BP’s to direct token-holder funds into projects without a clear or measurable return of value is risky, and may open the door to corruption and external scrutiny.
Up next, the block producers will need to vote on stage two of the WPS. EOS Nation CEO and founder Yves La Rose said that the second stage will include a transfer of 50,000 EOS from the eosio.names account to the WPS account. The eosio.names account holds the from EOS’s premium names auction.
On EOS the account names are 12 characters long (A to Z, 1 to 5) - but there's a built-in auction system for ‘premium name’ that are shorter. [...] The administrative funds collected through this auction (the successful bids) go to the eosio.names account. [...] These are the funds that will be used in the WPS.
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