EOS cryptocurrency, not a blockchain but scam? A Reddit user claims so

Maybe you’re old enough to remember a time in which there was an email going around that explained why Microsoft Windows was not an operating system at all but a virus. It was funny because it was true. We’re not saying that Windows was actually a virus, but the similarities pointed out by the joke were indeed there, and the fact will always remain that Windows was a terrible operating system back then that only became worse in time.

These days we’re looking at a similar phenomenon related to EOS in the cryptosphere. A user known as Quebeth thinks that EOS is not a blockchain but a scam and he (or she as the case may be) is trying hard to explain to everybody why that’s the case.

Actually, he’s not trying to explain anything at all. He’s just providing links to several adverse documents against EOS you can find around the web so that you can read them and be persuaded to share his view.

He does provide a few reasons. The txps, for instance, can’t be replicated in the real world even by a centralized database. The network’s protocols have no mechanism to stop a centralized authority to force censorship into the system. There are too many fake users doing fraudulent transactions in the EOS network, which equates to market corruption.

This user also mentions several grievous anomalies such as money laundering, information asymmetry, mispriced computing power, and other problems.

Quebeth’s conclusion, stated in all capitals is “EOS is malware.”

You can find all kinds of things published in Reddit, of course. But this post is particularly relevant because EOS is the most successful decentralized applications platform in the world after Tron. So this user is very brave or utterly crazy.

What should you make of this allegation on EOS?

If you’re really in the mood of finding things out to the last detail, you could explore and navigate all the links provided in this post, read them, and make up your own mind. Of course, you can only make sense of all that information if you truly have a deep understanding of blockchain technology and EOS’ blockchain. Most of it is very technical, and it needs a considerable amount of expertise.

On the other hand, you could let yourself be guided by the market performance of a successful platform. EOS is not leading the market by any means, but it’s there, and it’s the fifth largest cryptocurrency in the world by market capitalization. You can’t fake that, hard as you may try.

The most similar platform in the crypto verse to EOS is Tron. It’s not merely identical; it’s better technologically. But Tron’s market performance is terrible while EOS is pretty good. Does that mean that the dice are loaded in EOS favor? Well, yes, that could be the case, especially if you believe those allegations made in Reddit.

On the other hand, Reddit allows all kinds of crap to be published there. We’re not against it; we’re 100% for the free press. But Reddit doesn’t care (maybe it doesn’t know) for the difference between disinformation and relevance. These allegations regarding EOS could be in that category.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

(Excerpt) Read more Here | 2019-06-03 02:36:21
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