Media: EOS block producers collude to maintain their status
A leaked document, allegedly authored by Huobi exchange employee Shi Feifei, titled “Huobi 20180911 Node Pool Credentials” indicates that block producers on the EOS network can vote and redistribute income among themselves. Writes about it Trustnodes.
According to the document, Huobi votes for 20 block producers (note – they act as miners on the EOS network), and 16 of them vote for Huobi.
Analysis of the document also revealed that Huobi previously voted for seven pending block producers that do not have “public nodes, website, owner information, node interactions,” etc. In return, they agreed to share a portion of their revenues with Huobi..
So, the document says that Huobi votes for eosiosg11111 and receives 170 EOS, for cochainworld and receives 150 EOS and, finally, for eospaceioeos, which gives the exchange 50% of its proceeds from block issuance..
This activity can generate Huobi 1,116 EOS per day, or about $ 6,000 at current exchange rates, in addition to the amount the company receives as a block producer..
Huobi is likely using EOS tokens owned by its users to vote. Bitfinex, also an EOS block producer, introduced an official procedure back in June to allow it to use user assets to vote..
In other public blockchains, exchanges, which, as expected, hold large amounts of cryptocurrencies on their wallets, do not play such a significant role. However, on the EOS network, where 50% of funds are concentrated on only 10 wallets, and 21 block producers are responsible for the consensus, the situation looks somewhat different, and, according to new data, some of them have even more power than officially stated..
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