Ethereum’s Joe Lubin Criticizes EOS: “21 Crypto Bros is Just Not All That Decentralized”

EOS continues to generate controversies in the crypto verse. This blockchain is part of a small group of projects which are either loved or hated but which leave no one indifferent. One of those who recently criticized the project was Joseph Lubin, co-founder of Ethereum and creator of ConsenSys.

In a speech during Deconomy, Lubin explained that EOS has a series of flaws that go against the philosophy of crypto in general. He explained that this blockchain is highly centralized and the validators have in their hands the possibility to censor the operations they want:

How about EOS? As has been debated endlessly, a platform controlled by 21 crypto bros is just not all that decentralized. They can collude and censor if they wish. Governments and other well resourced actor can bribe them or force them to act against their will and against the well being and the security of the people using the platform

Lubin explained that from his point of view, EOS is suitable for DApps development; however, his token doesn’t make the same good impression:

I can imagine EOS being used for some games, but not even games that have high value tokens. It is too easy to organize to steal value on this platform.

Currently EOS is the main blockchain for the Dapps development. It is followed by Tron and Ethereum. Dappreview has in its database at least 465 applications that use this platform to function.

However, Lubin’s statements do not seem to be an isolated phenomenon. Excessive centralization has been widely criticized, but there have been investigations that even accuse EOS of not being a real blockchain but a database. Just last year, a research published by Whiteblock Inc, argued that EOS was not actually a real blockchain, unable to proces over 250 TPS:

 “EOS is not a blockchain, rather a distributed homogeneous database management system, a clear distinction in that their transactions are not cryptographically validated.”

EOS is currently in sixth place in the global marketcap, surpassed by Litecoin. The EOS token is valued at $5.47 million and has a total capitalization of $4954 million.

Other developers have confirmed their attendance to the event, especially to see the new developments of this blockchain. EOS currently appears to be undergoing a correction that could last several days.

Full video of Mr. Lubin’s Speech, available here: