EOS Is Even More Centralized Than You Think: Report

Wed, 10/17/2018 - 14:22
Alex Dovbnya
EOS centralization are not blown out of water - 100 addresses contain 69% of the network’s native tokens. Single EOS whale responsible for almost 10% of the supply
Cover image via U.Today

A new DataLight report vividly shows that EOS centralization accusations are not blown out of water — only 100 addresses contain 69 percent of the network’s native tokens. Moreover, a single EOS whale responsible for almost 10 percent of the supply.

EOS, the fifth biggest cryptocurrency by market capitalization, has long been criticized as one of the most centralized projects in the crypto space, giving Ripple a run for its money. Cryptocurrency exchange that allows trading EOS, including Bithumb and OKEx, are considered to be among its biggest holders.

Centralization is feared by the crypto crowd due to the fact that top holders have too much leverage over the voting process on the network. The immense power concentrated in the hands of crypto whales is disheartening for investors.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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