Whiteblock Study Questions EOS, Says Its Blockchain Is Not Immutablebr>
A new study funded by ConsenSys and done by Whiteblock, a company that reviews blockchains, has announced its findings on EOS, calling into question whether it is a cloud service or blockchain.
The benchmark testing results claim that the EOS software supports a much lower transaction throughput than advertised, and says the system is not even a blockchain in the full sense, but rather a “distributed homogeneous database management system.” It also said EOS was not immutable, a key feature of a blockchain.
The study concluded that EOS was not a blockchain, given that its transactions are not validated based on the use of cryptography. The study was led by Brent Xu, project lead at ConsenSys.
The EOS testing was reportedly requested by a group of enterprise entities through the Bounties Network, a platform enabling users to incentivize and self-organize.
“EOS is fundamentally the same as a centralized cloud computing architecture [client/server] without the fundamental components of a blockchain or peer-to-peer network,” said the study.
The tests were allegedly conducted over two months in a laboratory setting that replicated the digital ecosystem which EOS currently has in place.
EOS, the fifth largest crypto by market cap, is up about 3.5% today, trading around $5.63. The blockchain debuted over the summer, opening around $12, but then slowly melted. It raised the largest warchest of any crypto, amassing a $400 million warchest at launch. It also committed to spending $1 billion to develop businesses based on its blockchain.