A leaked spreadsheet by an employee of Huobi, one of the biggest crypto-exchanges in the world, appears to suggest collusion between the exchange and other block producers for mutual benefit.

NEO Will Bring 100 Million US Dollars to Chain Plus·2019 Blockchain Digital Game Innovation Summit
Wednesday May 22, 2019

Coinspeaker NEO Will Bring 100 Million US Dollars to Chain Plus·2019 Blockchain Digital Game Innovation SummitIt is reported that NEO recently revealed that a $100 million funding initiative called NeoEcoBoost would be injected into the Neo ecosystem to activate seed projects and boost the overall growth of the blockchain. The primary aim of this funding is […]

The post NEO Will Bring 100 Million US Dollars to Chain Plus·2019 Blockchain Digital Game Innovation Summit appeared first on 12bit trade.

Details of the Leak
In what could possibly dent the trust of investors in the EOS coin, a leak by one Shi Feifei, a Huobi employee, has exposed the weakness in the blockchain which apparently is being exploited by the exchange in connivance with some other block producers (BP).
The leaked spreadsheet spells out the details of how Huobi and some block producers of the EOS blockchain indulge in mutual voting and sharing of proceeds from producing blocks in EOS. The document reveals that Huobi votes for 20 BPs and 16 of them vote for Huobi in return.
According to the document, the exchange was previously voting for seven standby BPs which have no public nodes, website, ownership information, or node interaction. Huobi, as is evident from the exposé, appears to have entered into some kind of arrangement with the BPs in question for sharing the proceeds from the block rewards.
Huobi allegedly earns 1,116 EOS per day from these arrangements, which currently are worth about $6,000. This is in addition to what the exchange makes by producing blocks itself.
An EOS investor going by the Twitter handle @MapleLeafCap on Twitter expressed his feelings of disgust and shared the spreadsheet snapshots in a series of tweets published last week.

MGM GVC Interactive Partners With Sportradar on Sports Betting Data
Thursday November 08, 2018

Sportradar will be the exclusive provider of sports betting data to MGM GVC Interactive for the half-dozen leagues and federations for which it is the official provider: the NBA, the NFL, the NHL, NASCAR, FIFA, and UEFA. MGM Resorts partnered with U.K.-based betting platform GVC Holdings this summer on a joint venture in the U.S.

The post MGM GVC Interactive Partners With Sportradar on Sports Betting Data appeared first on W88.

A Flaw in EOS Design
This incident has exposed a design flaw in the blockchain which has only 21 nodes acting as validators. Apparently, about 10 addresses on the EOS network hold almost 50% of all tokens, making the blockchain very centralized.
Huobi and Bitfinex are voting with EOS tokens deposited by customers in their exchange, giving a lot of control to these platforms. In other blockchains, exchanges have no say in protocol rules and do not participate in validation. This apparent deficiency makes the network highly centralized with the ownership being highly concentrated among few nodes only.
It appears that this weakness in design is very similar to the one that existed in Bitshares, the earlier project of EOS founder Dan Larimer. EOS had raised $4 Billion through an ICO (Initial Coin Offering) sale that ran for a full year.
Implications
This incident is sure to raise questions about the long-term feasibility of EOS as a legitimate decentralized blockchain that can be trusted. It also exposes the questionable integrity of some exchanges which seem to go to any extent for financial gains.
Ethereum founder Vitalik Buterin who has been critical of the network’s over-reliance on trust tweeted:
Interesting! I mean, it was completely predictable, and I did predict it, but I did not expect it to happen so thoroughly and so soon!
What this expose has brought forth is a scary situation especially for the investors of EOS who placed a lot of trust on the project and the team behind it. EOS needs to take some prompt actions to address the flaws in its design if it intends to retain the trust placed by the holders of the hyped cryptocurrency.
Do you think that EOS has been an over-hyped project being dubbed by some as an Ethereum killer? Let us know in the comments below.

James Conner Fantasy: Positive Injury Update & Steelers RB’s Week 15 Outlook
Friday December 14, 2018

The Pittsburgh Steelers are once again staring at the potential of not having top running back James Conner in a key late-season matchup. While the Steelers (7-5-1) are attempting to hold on and win the AFC North, the Baltimore Ravens are hot on their trail with a 7-6 record. In Week 15, the Steelers face […]

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