Block.one To Use Its EOS Token Supply To Reinforce Block Producer Voting Integrity

Block.one, the parent company of EOS, has vowed to make use of its EOS tokens to ensure that a free and democratic voting process within EOS is restored after reports that Huobi and other Chinese block producers voted for each other to secure their BP spots.

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Block.one, the parent company of EOS, has vowed to make use of its EOS tokens to ensure that a free and democratic voting process within EOS is restored after reports that Huobi and other Chinese block producers voted for each other to secure their BP spots.

Integrity of the voting system to be restored

Cryptocurrency exchange Huobi and other block producers from China have been accused by EOSONE of voting for each other on the EOS network, going against the EOS ethos.

Huobi has subsequently come out to deny receiving any payment but is yet to address whether the allegations of voting misconducts were true or not.

Block.one, the company behind EOS network, released an official statement on October 1, explaining that it is aware of some unverified claims regarding irregular block producer voting, but denying their validity.

Block.one received 10% of the EOS tokens generated and was involved in the voting process in July even though it initially didn’t plan to.

The company is now set to use the tokens once again to ensure that the voting process in the network becomes free and fair.

Block.one would be able to make use of more than just its 10% share, as several token holders declined to stake their tokens and participate in on-chain governance. Having that much voting power will help Block.one take down the BP cartel in the network.

Reacting to that allegation, the company that raised $4 billion in its record-breaking ICO stated that it believes it is crucial to ensure a free and democratic voting process within EOS.

CEO of Block.one Brendan Blumer further added that the company continues to work on their potential involvement as they look to empower the intent of the greater community via a transparent process that incorporates community feedback.

Block.one promises that the network will continue to improve the EOSIO open-source code and progress towards their vision of the future of decentralized governance as they remain committed to pushing thought leadership on optimal design.

Concerning their future, Block.one remains very optimistic about EOS public blockchain as it gains rapid adoption.

By delivering a free, high performance, decentralized infrastructure for next-generation internet applications, EOS is set to soar higher, claims the company.

Voting cartel not a surprise

The allegations of BPs influencing the voting process first came up on Chinese social media platform WeChat.

For Ethereum co-founder Vitalik Buterin, this news doesn’t come as a surprise, but he did admit that he didn’t expect it to be very obvious or to happen very soon.

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