Cross Over to Tomochain, Founder Tells EOS Developers, dApps
In the wake of reports that the alleged centralized nature of the EOS blockchain is catching up with its network, the founder of TomoChain has extended his platform’s hand to welcome developers and their decentralized apps (dApps) from the if they choose to leave.
“EOS dapps can move to TomoChain, and devs can start to build without worrying about their contributions being superseded by a select few ‘whale’ investors,” Long Vuong says to EOS developers who wants to make the switch.
EOS is the world’s seventh largest smart contract platform by market cap – with a value over $3 billion since February 2019 as at this writing. It seeks to build a network capable of processing millions of transactions per second (tps) after running an approximately 350-day ICO between 2017 and 2018.
It has been struggling with the growing widely-spread view that its network is centralized for a while. The perspective has degenerated to a point of EOS being seen as an Eastern (Chinese) thing as against Western cultures’ attraction to the notion and value of decentralization as blockchain’s only proposition as a benefit to disrupt the market. The criticism is based on the claim that control of the 21 nodes that provide consensus to the network through EOS’s delegated proof of stake mechanism are from China rather than being spread globally. A counter argument is that Eastern block producers (BPs) – who govern the EOS network by reaching consensus and adding blocks of transactions or data to the EOS blockchain – only happen to acquire more tokens and thus gaining more whale voters as the protocol was designed to function.
Ever since they recycled their own money in the token sale and marketed on Times Square when they weren’t supposed to be soliciting US investors this project has been trash. Sorry I’m not sorry. The industry needs to recognize bad actors and not tolerate them. https://t.co/XPO2GPmQQg
— Andrew Keys (@AndrewDARMACAP) September 19, 2019
“There have been concerns for a while about just how decentralized EOS is. What I can say is that at TomoChain we are supported by a widely distributed network of nodes spread globally,” Long adds as he urges EOS developers to switch to his Singapore-based blockchain project. “If there are any developers looking to make the move and bring their EOS dApps to our platform we would love to speak to them.”
Both EOS and TomoChain sacrifice the decentralization for the transaction processing performance. However, unlike EOS which only allows for 21 BPs, TomoChain allows 150 masternodes through which their governance applications allow stakeholders of their networks to vote though their voting weight differs.
Consensus is a fancy word for majority. #EOS is controlled by the token holders opposed to mining pools. Those invested in less aligned alternatives feel threatened enough to attack, and that’s a sign of success. EOS governance is just warming up…
— Brendan Blumer (@BrendanBlumer) September 19, 2019
So far, there have been attempts to refute claims that have been shedding the alleged EOS centralization issue in a negative light. But raising the East vs West and BP vs exchanges argument does not seems new to its community. The platform continues to support the launch of new projects with its reportedly 4,000 tps capacity – plans to get a virtual machine that would up it to 24,000 tps. Such is the EOS Name Service which released the beta version of their marketplace platform for users to buy and sell names with EOS.
As long as practical applications continue to be launched on the platform, the argument surrounding whether EOS is centralized or not would be rendered meaningless.