EOS is Centralized!! (Let's take a look at this)

Dan Larimer explains why he chose 21 Block Producers and talks about decentralization.

"EOS is Centralized!". Dan Explains explains why he chose 21 Block Producers, and talks about decentralization.

"I introduced first version of DPoS with 101 block producers. They were all elected by approval voting, and then BitShares 2--or Graphene--reduced the number from 101 to a user-defined number so that as people vote they can vote... if they vote for more, then there will be more; if they vote for less, there will be less, and that gives you an idea of how many people the community is actually able to vote for and what we saw was that when the community is in control the quantity it stayed around 15 people or so.
So with Steem, I made the decision to just hard code it to 21, which would be more decentralized than the community was doing on its own and BitShares because that was about the throughput of the attention and the ability of people to vote." -Dan Larimer

"EOS is centralized!!" Or is it?

In this short episode we're going to cover the topic of decentralization on eos.

If you've been around the cryptocurrency space, you've likely heard the most common accusation leveled against EOS which is that it's centralized.

Let's hear straight from Dan about why he chose 21 block producers and how much decentralization is necessary.

And who better to explain than Dan Larimer himself, CTO of block one.

[Play Dan video clips]

Alright guys, you heard it from the man himself, why he chose 21 Block producers. It was a result of trial and error through his various platforms of Bitshares and Steemit, and also determining the correct balance between throughput and decentralization and the ability for users to realistically research and vote for block producers without being overwhelmed.

And I think Dan makes a really good point about decentralization: Decentalization for the sake of decentralization alone can be very misguided. Decentralization is not the end goal. Decentralization is a means to an end. Censorship resistance is the actual goal of decentralization. Decentralization exists only to further censorship resistance, and therefore the question should not be "how much decentralization can we have?" but "How much decentralization is necessary to ensure censorship resistance, while at the same time ensuring maximum throughput possible".

This is why EOS is above all others in terms of performance and decentralization, because it meets at the crossroads of an optimal middle-ground.

And this is why platforms are moving to EOS and will continue to move to EOS. Because they seek not only decentralization, which is a highly sought after quality, but also performance. And Dan had the foresight to recognize that both qualities were important, and as long as we didn't overly sacrifice one for the others, then we could find a sweet spot that satisfies them both. And that sweet spot is EOS.

Full credit goes to Ivan for his Interview with Dan Larimer - EOS, Cardano, Ethereum, DPoS, Steemit, Crypto Bubble, Future of Crypto

Dan Explains Why there are 21 BPs.

Dan talks about Oligarchy and control: 38:47-40:43~

Dan tried 101 block producers at first, and why he went from 101 to 21 BPs

Dan Larimer highlights from the Panel Discussion with EOS, Ethereum and Ripple at Blockchain Live (Sept 2018).

Dan talks about the characteristic of meaningful decentralization.

Disclaimer: The views expressed in this video are strictly my own and are not to be construed as trading advice. Do not buy, sell or otherwise trade cryptocurrency based on the content of this video. I am merely sharing what I have done and what I would do in various situations as an educational tool only.

#cryptocurrency #tokens #coins #eos #eosio #block.one #bitcoin #btc #blockchain

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