EOS is unique because of its collaborative open-source culture. BP vote buying will k

Published by womwhisperer 23 Jul 2019

EOS is unique because of its collaborative open-source culture. BP vote buying will kill it.

When listening to podcasts, or reading blogs about why developers move from other chains to EOS (or why they choose EOS from the get go), along with the speed of the network and free transactions, the one thing they invariably mention is the community.

It's no accident that the EOS community is collaborative, supportive and friendly: until now, the incentive system for Block Producers (BPs) has encouraged us all to work together: the rising tide lifts all.

The model goes like this. As the EOS mainnet (or public net) improves in capability, resources, tools and functionality, it becomes an increasingly attractive platform for developers. Dapps multiply, and slowly but surely users and the price of EOS increase.

Central to the process is the collaborative BP open-source culture.

Taken together, this is a viable economic model - and until recently it has been working. Maybe by design, maybe through serendipity. But it has been working.

However the recent move by exchanges to move into block production to maximise their profits is a real threat to the EOS open-source culture. There is a place for exchanges in the BP process, but when voters are rewarded for voting for businesses run solely on the profit motive, inevitably these BPs will attract more votes (there are many many speculators who see EOS as just another token through which to make money - and this will make EOS even more attractive to that subset of crypto enthusiasts). This will inevitably mean the BPs committed to the open-source collaborative culture which is the strength of EOS will be voted out of the top 21, and then the top 100, with a commensurate reduction in resources provided to them for their work.

Eventually, our great BPs will adapt to the new regime or die, but either way, so will EOS as an attractive platform for new developers.

Creative entrepreneurs will just go somewhere else.

The price of EOS will drop.

The EOS mainnet will go the way of STEEMIT.

And the exchanges will move on to the next coin.

However, fortunately we have the ability to defend the unique nature of the EOS open-source collaborative culture.

So let's use it before the wreckers suck all that is good from our great chain.