💎 EOS is No-Go...for now — Issue No. 2

🗞 News

The launch of the EOS mainnet was pushed back again last week. While there remains a chance the launch will happen before this email hits your inbox, things aren't looking great. Here's a breakdown:

One single security researcher uncovered 12 security flaws in EOS over the week, collecting $120,000 in bug bounty payouts in the process. Link.

Despite this, EOS lead developer Dan Larimer claimed, in the lead up to a Go/No-Go vote by "block producers", that the software was ready to go. Link.

Meanwhile, a number of competing groups have emerged attempting to beat EOS developers to the punch in launching the network. Link.

Understandably, the would-be block producers, who have a lot to gain from a successful launch, were not convinced.Votes on June 6th, 7th, and 8th all returned a No-Go. Another vote is scheduled for the 9th. Link / Link.

The votes by so-called "block producers" has also drawn attention to a more general criticism of EOS: that its Delegated Proof-of-Stake (DPoS) consensus algorithm leads to inevitable centralization. For a perspective on DPoS' shortcomings, read: Link.

🔮 Blog

This week, Microsoft acquired the GitHub, a collaboration tool for software developers. Almost all open source software, including the code of virtually every major crypto project, is hosted on GitHub. As a centralized service built on top of a fully decentralized protocol (git), GitHub serves as an important historical anecdote for the blockchain community. Link.

📊 Statistics

The Brave browser has reached 2.7 million monthly active users. The browser is perhaps the best example of an ERC-20 token in real world use. They've also announced a $500,000 giveaway of their Basic Attention Token (BAT). Link.