A blockchain testing company claims it has found something quite shocking: EOS, a blockchain protocol that was worth $4 billion a few months ago, may not actually be a blockchain. In a new experiment, benchmarking firm Whiteblock concluded that the EOS token (and its RAM market) is essentially a cloud service for computation – and is built on an entirely centralized premise. As such, it lacks some of blockchain’s most fundamental aspects, like immutability. The tests were commissioned by major blockchain entity ConsenSys, to establish metrics for benchmarking base-layer blockchain protocols. “Through practical testing and experiments in a controlled laboratory setting,…
This story continues at The Next Web
from The Next Web https://ift.tt/2DiqCsn
