EOS Allegedly Reverses the Status of Already Confirmed Blockchain Payment Transactions
There is evidence that shows that moderators of EOS have apparently reversed transactions which were already confirmed.
As per a Redditor, u/auti9003, a problem allegedly including a phished EOS account has alluded to one of the platform's moderators who reverses transactions without the owner’s permission. The Reddit user says that this combined reversing transactions which recently got network confirmation.
The crypto community is not happy about EOS acting as centralized firms. A Redditor added:
“What a pile of garbage is EOS? Why would anyone use this over a bank account and the traditional legal system? These guys raised $4BN to recreate the legal system using a token that is neither censorship resistant nor immutable. Brilliant.”
Obviously, this type of governance is not scalable. People are comparing this to a less convenient PayPal. Another Reddit user, hippography added:
“ It really blows my mind that there are still so many people who believe EOS is a legit solution to the scalability issues. Of course, if you're willing to sacrifice all the important benefits of the technology you can get rid of some of the disadvantages too… but that's a marketing solution, not an engineering solution. Biggest scam in crypto.”
]The arbitrator of the event, Ben Gates released a statement saying:
“Under the powers afforded to me as arbitrator under article 6 of the Rules of Dispute Resolution, I, Ben Gates, rules that the EOS account in dispute should be returned to the claimant with immediate effect and that the freeze over the assets within the said account is removed.”
This is not the first time EOS has been accused of being too centralized. Earlier their CTO, Daniel Larimer confirmed the same in an interview.