- By Pierre-Alexandre
April 8th, 2019
Joseph Lubin, the co-founder of Ethereum and the founder of ConsenSys recently criticized EOS alongside other blockchains used by large corporations, claiming that some of them function in a centralized manner.
21 bros control EOS
Lubin, while speaking at Deconomy 2019 conference in Seoul, South Korea, last week stated that EOS is monitored by 21 people (referring to block producers) and that doesn’t make it a decentralized blockchain. He maintained that the block producers (BPs) could collude and censor the cryptocurrency if they wish, adding that due to the centralized nature of the blockchain, the BPs could be bribed by the government or forced to act against the will of the entire EOS network.
The ConsenSys exec pointed out that although the BPs could be voted out if they begin to misbehave, there is no good way to detect if they are colluding or forced to act against the best interest of the EOS network. He concluded that he sees the EOS blockchain being used for some games, but is not sure if games with high-value tokens would develop their apps on the platform.
Fabric and Corda are still deficient
While talking about projects that could solve the permissioned and permissionless problems in the blockchain space, Lubin doesn’t see Fabric as one of them. He believes that Fabric would not expand beyond small networks for private, permissioned systems. He added that although Fabrics can issue tokens, it would be for some narrowly circumscribed situations.
Lubin doesn’t see R3’s Corda being able to solve those problems either. He stated that Corda is a blockchain inspired software that mostly has banking solution apps. At the moment, it functions more as a point-to-point trust than a shared source of truth, while also attributing the problem of narrow token issuance to the blockchain.
Lubin praises Cosmos and Dfinity
While the Ethereum co-founder was critical of EOS, Corda, and Fabric, he had some words of praise for Cosmos and Dfinity. Addressing Dfinity, Lubin noted that they have a strong team and expects them to do an excellent job in the future. He, however, pointed out that he doesn’t think Dfinity is interested in becoming a global base trust and settlement layer, but rather a decentralized platform that could replace Amazon Web Service (AWS).
Lubin also praised the Cosmos team, adding that they don’t want to become a base trust layer, but instead they are focused on designing a platform that would allow other blockchains to interoperate side-by-side. He, however, doesn’t see interoperation between blockchains happening over the next few years but expects them to have good use as a layer two solution.
The founder of ConsenSys also discussed the Polkadot system which is being built by Parity. He mentioned that he expects Polkadot to become a permissioned and highly controlled blockchain platform.
Lubin’s criticism of EOS is understandable as they are currently Ethereum’s number one competitor. However, the Ethereum co-founder raised some excellent points during his speech.
LOL! @ethereumJoseph wants everyone to trust Vitalik as their settlement layer. Don't believe a word he says. The guy can't even finalize a bet with me in 11 months. He's going to make the world financial system run on that centralized PoS?https://t.co/VNeOSKsMBm— Jimmy Song (송재준) (@jimmysong) April 6, 2019