EOS Block Producers Allegedly “Crash” After RAM Usage Exceeds 1GB

Omar Faridi
  • EOS New York, a top 21 EOS block producer, recently announced that a number of the controversial crypto platform’s Block Producers “crashed,” presumably due to their poorly configured systems.
  • EOS has been heavily criticized because of its governance model, with many in the crypto community considering it highly centralized.

EOS New York, a top 21 EOS Block Producer (BP), recently revealed that a number of block producers “crashed” after the network’s RAM usage “exceeded 1 GB.” Per the BP, these either “did not confure their node to properly set it at 64 GB,” or only had 1 GB.

According to EOS New York, the block producers whose systems reportedly crashed were not following the guidelines outlined in their agreement. Therefore, the US-based organization implied they are at fault, although it is still confirming details.

The tweet seemingly created a bit of confusion, as users replied asking what had happened to the cryptocurrency’s blockchain. Although these were quickly addressed, there has been a great deal of controversy and heavy criticism levelled at the EOS project.

Despite the problems several BPs reportedly encountered, EOS New York posted an update stating that, “the network is live and did not experience any disruptions.”

 

Controversies Surrounding EOS

Research has shown EOS may be more centralized than enthusiasts would want it to be, as the top 1.6 percent of holders own 90 percent of the cryptocurrency’s supply. Moreover, BPs have in the past ben ordered to freeze 27 accounts on the blockchain, showing one organization had control over other users’ money.

This forced Dan Larimer, the architect of EOS, to proposed a new constitution, which would remove most of the powers away from  the EOS Core Arbitration Forum (ECAF), the organization that ordered the accounts to be frozen.

Bitmain Becomes Block Producer

Bitmain, a leading Bitcoin mining hardware manufacturer valued at $12 billion, recently qualified to become one of EOS network’s 21 BPs. Co-founded by Bitcoin Cash advocate Jihan Wu, Bitmain is well-known throughout the cryptosphere for its monopoly over the ASICs industry.

Bitmain controls two top BTC mining pools, and has shares in another one, ViaBTC, allowing it to potentially pull a 51 percent attack on the network, a move Wu says wouldn’t make sense as it would hurt his organization’s finances. The company recently invested $50 million in Opera web browser’s IPO.

Huobi Wallet Adds Support for Decentralized Finance Apps MakerDAO and Compound

Francisco Memoria

Huobi’s multi-currency wallet, Huobi Wallet, has added support for two decentralized finance (DeFI) projects – Compound and MakerDAO – in an expansion into the ecosystem.

According to a press release shared with CryptoGlobe, Huobi Wallet will now be supporting all decentralized applications and tokens associated with these projects, which are mainly focused on the Ethereum blockchain.

The document notes the Maker project is comprised of a decentralized stablecoin – Dai – collateral loans, and community governance. Huobi’s multi-currency wallet supports the stablecoin, as well as its MKR token and CDP Portal which lets users take collateralized debt positions.

MakerDAO, Maker’s decentralized portal, is fully managed by smart contracts. The project has created a lot of buzz in the cryptocurrency space over the popularity of its Dai stablecoin, which has been listed on various major exchanges.

Compound, on the other hand, is an open-source autonomous protocol allowing users to lend cryptocurrency and earn interest on their holdings, or borrow on the platform at a specific rate. Huobi Wallet’s support meaning users will be able to use the Compound decentralized application directly from the wallet.

Livio Weng, Huobi’s chief executive, was quoted as saying:

We think blockchain technology has great potential not just for cryptocurrency but also in providing better overall financial services and products to the public. Both Compound and MakerDAO share our vision and we're happy to add support for them.

Compound’s founder and CEO, Robert Leshner, added that decentralized financial applications will “lead to a wealthier, more connected world,” but have so far been difficult to access. Per his words, this type of partnership will help more users access DeFi platforms.

The move comes shortly after Huobi Wallet partnered with Equiilibrium, the framework behind an EOS-based stablecoin called EOSDT, to add the cryptocurrency to the multi-currency wallet.