EOS, otherwise known as the “ethereum killer”, is a well-performing cryptocurrency in the market despite the general trends lately. The project itself aims to build a decentralized network with millions of transactions per second (TPS) with the added benefits of smart contracts built-in. Throughout history, EOS and Ethereum had its own past history with differing ideals and perspectives of what a decentralized economy holds. The biggest eyebrow-raiser with EOS is that it has a year long ICO and has made huge promises, but with little delivery.
Overnight, a very popular antivirus company by the name of 360 had discovered a slew of extremely frightening vulnerabilities with EOS. The attached tweet below outlines what 360 discovered.
This is extremely concerning as the EOS super node, a semi-centralized aspect of EOS, can then execute these corrupted smart contracts autonomously and create chaos. Now taking a step back, we are aware of the scalability trilemma that Vitalik Buterin describes. This notion ultimately plagues all blockchain projects to some extent favoring a leg in the triangle and unfortunately security falters for EOS. They are the three following points:
We hope that this project ultimately resolves much of the security issues as it can lead to a lot of harm if not addresssed. EOS currently sits 5th with a market cap of $10.76 billion dollars. EOS is being traded at $12.12 per token.
Follow Us!
Facebook
Instagram
Twitter
Youtube
Referral Links
Free $10 - Coinbase
50% off fees - Binance