The new EOS User Agreement [EUA] has been approved by the EOS block producers [BP]s after a referendum proposal on February 8. The agreement on Saturday received approval from 15 BPs out of the 21 BPs thereby replacing the original constitution with the EUA proposed by EOS New York.
The constitution of EOS fell into a turmoil when the two entities part of the governance, namely EOS Core Arbitration Forum [ECAF] and BPs, had a fallout. The BPs chose not to approve a proposal from the ECAF arguing that the proposal was not within the scope of their control.
“We call on ECAF to refrain from issuing any orders which require modifying accounts. We ask ECAF to exercise appropriate scope restraint by entertaining cases of arbitration of contractual disputes only (i.e; those which might otherwise be heard by the civil justice system) rather than criminal matters,” wrote the BPs at the time.
The EUA will replace the constitution of EOS and “will serve as a written reflection of the method of governance that the EOS Mainnet already employs, delegated-proof-of-stake.” EUA will also eliminate ECAF leaving the BPs and referenda as the key part of the EOS Community.
The referenda made of token holders will work as a signaling mechanism according to EOS Weekly. The referenda seek to function as the voice of the Community. However, referenda like any other democracy measure the common opinion of the community. The ultimate decision-making powers will rest in the hands of the BPs.
BPs can approve a decision if they make up a majority among themselves. According to the DPoS [Delegated Proof of Stake] consensus mechanism, the vote of 15 BPs out of the 21 BPs will make a proposal valid.
The plot thickens as EOS BPs have been previously accused of vote collusion. Huobi, one of the BPs was allegedly involved in mutual voting to secure its BP position.
“Dan Larimer’s Delegated Proof of Stake (DPoS) was designed with the requirement that 15 of 21 independent votes are required to operate the network securely. If, as some alleged recently, some current Block Producers are coordinating together, this might call into question the transactional reliability of the EOS blockchain data for all users and the attractiveness of EOS as a platform for dApps,” wrote EOS Alliance, a non-profit organization by the community members.
The new constitution which hands over powers to the BPs who were accused of voter collusion. The idea of handing over the ultimate decision-making power to the BPs which was proposed by another BP is baffling.
Image via Shutterstock